Wednesday 5 November 2014

Online tools can be very handy for a real estate investor or a home buyer.

Posted by Property Scam at 21:59 | 5 comments

In earlier times there was very scanty information available about any builder or locality if one wanted information before buying. Nowadays, this is an easy task. The websites of the particular builder may have all positive adjectives exaggerating their accomplishments, but there are a plethora of review sites where customers can post their comments, experiences and reviews which gives the world a fair idea about the builder. Not only that many sites give you the instant EMI calculator, some sites offer a privilege of comparing the rent with the EMI. With all these facilities and information freely available, one’s dilemma about whether to go for an apartment or stay on rent can easily be cleared. If the rent is same or more than the EMI, one can opt for an own apartment. Thus information has seemed to regulate the market as well. Some sites give you the rent comparison and the real estate price comparisons also. Let us examine the utility of these information and date freely available to the common man.

Builder’s reviews:

There are many sites and blogs where reviews can be posted and comments can be asked for and questions can also be asked awaiting for an answer. In due time, one can get an answer from an expert that can help one in avoiding to pay consulting fees of a professional. These sites and forums allows one to freely exchange ideas and opinions which gives oneself a fair idea of the builder like Sovereign builders, Mantri developers, Prestige group, Dreamz GK Builders, locality, customer’s experiences and the like.

The pros and the cons:

No doubt these sites helps one in getting lot of information and this has certainly made the industry transactions more transparent for the general public or the institutions and the local bodies. But there are certain disadvantages of the internet as well. One needs to understand that this kind of publicity can be done by the builder or the developer himself. Another malpractice noted is that there are many instances of defaming the good work done by many.

For instance, recently a niche market has emerged for the affordable housing where many developers are building low cost apartments for the middle and the lower middle class segment. The market watchers and experts have noted that these attempts have undoubtedly been a hindrance to the other developers who were selling flats at a higher cost. They also had to initially decrease their prices in order to compete with the builders providing low cost apartments in the same area. There had been numerous attempts to defame such builders on the web by their competitors, add experts. As the comments and reviews can be anonymous and the identities can’t be traced, it is easy to post such defaming reviews attempting to defame a particular developer or a company. There can be fake writings on the web as well. Thus it is always advisable to cross check with reality after one gets primary information from the internet reviews.

EMI Calculators and comparisons: Many sites offer EMI calculators to calculate EMI and also a comparison of the rent and the EMI, which can be handy in taking a decision. For the first time buyers of apartment, it is always a boon as he/she can compare the rent and the EMI payable if they choose to buy an apartment instead of renting. This facility and information available can then be cross checked with reality and the decision can be made. Thus the accuracy of such services can render as a market regulating tool.

Recent and latest Trends:

Today the public portals of the real estate sector are not limited to only enlisting of property in a particular city or locality. Some sites have “Know Your City” section which provides all kinds of information and insight about the highly preferred locations of a city, a home in one’s budget, etc. on a quarterly basis. This gives one the advantage of understanding a city before relocating.

Rates and Trends of the Real estate prices:

The websites today provide information about the prevailing rates and can provide one with a quick sneak peak in to the current rental and capital prices in a city or a locality. Some sites also give you a choice of brokers and rental houses with guides on taxation and legal issues.

So gone are the days when the portals used to just enlist properties on sale. Today, these online portals help a lot in one’s purchase or investment or even relocation to another city.