“Money is not everything but it’s always better to cry in a Mercedes”
My friends Aki & Nikki are a staunch follower of the phrase. Aki is not gifting a Mercedes to Nikki this Valentine’s Day but he plans to buy something better that may secure their future. Let’s hear them out.
Aki: Hey Nikki! Guess what? I have finally found an office space which fits in our pocket. It is a super perfect property which actually “Moved Me”.
Nikki: Oh my Gosh! Aki Stop! Stop! I don’t think so you have ever even praised me that much.
Aki: Dear, I feel it is as perfect as you.
Nikki: Oh really! Now I am more inquisitive to hear about it.
Aki: Ok! So after doing rigorous hard work & study, I have shortlisted two properties- one in Chinchwad & other in Moshi.
Nikki: Moshi…..Ummm! Can’t you have deeper pockets to afford something beyond Moshi? Chinchwad sounds interesting!
Aki: Well! I knew that’s how you would react. That’s why I chose an option from Chinchwad.
Nikki: Why didn’t you find an office on the western side of Pune like Hinjewadi, Wakad, Ravet, Baner etc?
Aki: Slow down dear. I did study all these areas. Let me explain what I had in mind while choosing these properties. Hopefully that shall answer all the questions that have cropped up in your mind.
Aki: Most importantly, I did not want any nuisance value nearby the property & last but not the least, the project should be RERA registered.
Nikki: Did you have so many parameters while selecting me too?
Aki: Of course not sweetheart!
Nikki: Just kidding dear. I am now convinced why you chose Chinchwad & Moshi. So, tell me more how do you intend to go about this?
Aki: Hmmm…So both the properties are great & match our requirements. The Chinchwad one is Rs. 10 lakhs more expensive & smaller in size as compared to the Moshi one but shall generate more revenue. Moshi shall obviously generate more appreciation in the long run.
Nikki: I would prefer the Chinchwad one. It shall be easy to find good tenants. It’s also a good place to have your office in case you plan to start your own business in future.
Aki: “All devils think alike”. Yup! You are right. That’s what even I was thinking.
Nikki: Don’t forget Aki that we are financing our properties. We don’t have spare money. So we can’t risk it on a location foreseeing that it shall give better returns in future.
Aki: You nailed it babes! Your one line answered everything. Yes I intend to buy this asset with a top up loan so I cannot wait for rentals to come & bear the burden of EMI till then.
Nikki: I have googled that there are very good residential societies matching to my requirements near Chinchwad where we can move in future.
Aki: Oh no…..This lady is back to her posh locality conversation. Yes of course dear. We can surely plan that as our next buy.
Nikki: Ok so let’s not waste time on discussing about it further. Time go & meet your new love now.
Aki: Now?
Nikki: Remember you always say:
“Don’t wait to buy real estate. Instead buy real estate & wait”.
Aki: True dear. Let’s go. Let’s also discuss with the bankers to understand the financials.
#Note:
- Commercial real estate investment is subject to market risk. Please consult a professional before investing.
- You may read my next blog for further understanding the process.
- In case you are still eager to invest, just remember to check the RERA registration of the project before investing.
