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When one talks about property, the first image that plops into your mind is of a luxurious looking home, having an unending luscious green lawn with sweet scented flowers of different colours blooming in the summer breeze. It may seem very dreamy, but there is more to real estate and property than you might think of. A person can buy property even for commercial purposes. He may want to start his own business or for any other commercial purpose. It may burst your bubble, but the truth of the matter remains. Just as you need to be careful and consider certain points before diving straight into buying your dream home, you need to take into consideration, certain points when you look at Mumbai real estate for commercial purposes as well. The first thing to keep in mind is to weigh in both your pros and cons. You may be delighted at the thought of buying your own commercial property, but while you look at the positive points, you need to give a serious thought to the disadvantages as well. While buying such real estate can be a great form of investment, you must also understand that giving it on lease may not always be a good thing. The tenants may not pay their rent regularly and if you are planning to depend on them for your income, you should think twice about it. The trickiest thing about buying Mumbai real estate for commercial reasons is the location. You may have bought a property in the trendiest of locations, but you cannot be completely sure that the location will be plentiful trendy even in the following year. There is every possibility that a new location may define what popular is, jeopardising your property and future prospects. You need a team of experts to guide you before you decide to take the plunge. This team should have at least one accountant, a lawyer, a commercial realtor, and a mortgage broker. They will take you through the process explaining the fine print and making sure you take the right step forward. When you buy a real estate property, always try to know what kind of a neighbourhood it is. The locality where the property exists should be easily accessible to both the staff and the clients. There should be a good network of public transport. This may not seem very important at the moment, but you need to make sure that there is ample parking space available. Mumbai real estate market should also be located in an area where you know development will take place. Before you go ahead with your decision, make sure that you have the expenses covered. Check with banks for loans and mortgages. The down payment should also not be a problem. You must be able to conveniently pay the amount for the property without any hassles before you get yourself a shiny new commercial property! Author Bio: Marcus is a real estate agent and he has helped several buyers when it comes to Mumbai real estate. He believes that the world needs extraordinary commercial complexes and he is striving hard to be successful in his endeavor.
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