Things to Remember While Buying Your Second Apartment.docx

1. Things to Remember While Buying Your Second Apartment By Viva Housing © 2020-2021 All Rights Reserved, No part of this document should be modified / used without prior consent. Viva Housing - 14/21, 4th Street, Krishna Nagar, Pammal, Chennai – 600075 Contact Number: +91 9962611122 | Email: sales@vivahousing.in

2. Buying a second home is nothing but a sort of victory. Investing in a property is one of the best decisions since it is an income-generating asset. Owning a second home in Chennai adds to your responsibility hence it is essential to stick with the rules to make a smart decision while buying. Here are the important things to remember before buying your second 2 & 3 bhk apartment in Chennai. ● Budget Property values in and around Chennai fluctuate as per the market condition. While you could have bought your first home at a good deal, the same cannot always be applied. Today on average, 3 BHK flats in Chennai come around 50 to 70 lakhs. The cost tends to rise higher with the location and the market condition. Hence it is essential to fix your budget and look for a home that fits your specifications as well as your budget. ● Location Sometimes it is better to invest in property nearby, therefore, making it easier for you to manage and monitor the property. On the other hand, buying a home in a different location gives you the advantage of spreading your investment across. Analyze the pros and cons of every location before taking the next step. It is advisable to get a professional consultation when it comes to buying a property in Chennai. © 2020-2021 All Rights Reserved, No part of this document should be modified / used without prior consent. Viva Housing - 14/21, 4th Street, Krishna Nagar, Pammal, Chennai – 600075 Contact Number: +91 9962611122 | Email: sales@vivahousing.in

3. ● ROI While the first home tends to be the primary residence, the second home is seen more as an investment that generates income for the owner. Ensure that your second property has all the elements that make it desirable for tenants. From connectivity to apartment facilities, it is essential to make sure that your second home is well-equipped to generate the expected level of income. ● Funding Buying your second property is an expensive affair. It is imperative to analyze your current financial stability before investing in a second property. Ensure that you don't have a huge financial commitment to avoid instability. From verifying the loan source to arranging the best ways to fund your second apartment, it is crucial to figure the funding details before you further your agenda. Although buying a second apartment in Chennai is easy, the home buyer must take the necessary caution to avoid falling prey to fraud. Viva Housing is one of the leading realtors that sell 2 & 3 bhk flats in Chennai under 40 lakhs. Click here to learn more. © 2020-2021 All Rights Reserved, No part of this document should be modified / used without prior consent. Viva Housing - 14/21, 4th Street, Krishna Nagar, Pammal, Chennai – 600075 Contact Number: +91 9962611122 | Email: sales@vivahousing.in