Explore a Luxurious Lifestyle With Flats in North Kolkata

North Kolkata and luxurious lifestyle? They are not quite synonymous to each other, right? Are you sure about this outlook? Well, the reality is based on a different story altogether.

North Kolkata essentially represents the vintage charm of the city. There something unique about the region. While walking down the lanes of this region, you’ll come across homes which were built during the British era or even before. The lanes are narrow where you’ll find children indulging in playing ‘gully cricket’. You’ll come across the traditional shops selling fried eatables or as the Bengalis call it ‘Tele Bhaja’ along with some iconic sweet shops. However, luxurious lifestyle calls much more than such features. It calls for modern features that will upgrade your living standards and simplify it as well.

Hence, things are changing for North Kolkata. The small shops, old vintage houses and narrow lanes are getting replaced by contemporary facilities and modern living spaces. However, does that mean this place will provide you with a luxurious lifestyle? Let’s delve into the blog to familiarise with the truth.

Luxury Living & North Kolkata- Do they Go Hand-in-Hand?

Modern Residential Projects: Luxury starts with residential complexes defined by opulence and style. The housing complexes in North Kolkata will provide you the same. Most of the projects in this region are stunning defined by comfort, luxury and modern-day conveniences under one roof. The residential complexes are wrapped in the pure essence of nature backed by modern features, thereby bringing you the best of both worlds.

Most of the projects are spread across a huge acre of land with 60-70% open spaces defined by lush green foliage. Such projects also consist of landscaped gardens, ponds, pocket gardens, children’s park and the likes to provide one with well-rounded lifestyle amidst a stunning milieu.

Upgraded Living Spaces: With modern housing complexes, you’ll also get the advantage to live in fine living spaces which will essentially improve your living standards. Constructed using cutting edge technology, the projects consists of comfort packed rooms, quality apartment specifications (like bathroom & kitchen fixtures) and an amazing city view. What’s more? The modern luxury apartments in North Kolkata are open on 3-4 sides and are Vaastu compliant, thereby bringing comfort and good vibes in your new home. Some projects will also provide you with duplex living spaces within a price range of 30 lakhs to 40 lakhs. Isn’t that incredible?

Excellent Amenities & Facilities: In today’s world, it is mandatory for a residential complex to provide the residents with a remarkable set of amenities and facilities. Understanding the significance of the same, the developers are making sure to provide the residential complexes with clubhouse amenities and residential project facilities that will enhance the living standards a step further. Luxuriate with residential complexes in North Kolkata consisting of features like:

Rooftop swimming pool.

Adda Room

Pool Table

Modern Gymnasium

A Multi-Purpose Grass Court.

Landscaped Green Areas

Reflexology Park, etc.

Apart from these three primary features, connectivity quotient in North Kolkata has improved as well. The region has seen an increase in local train routes, buses, auto-rickshaws, call cabs and even metro links, thereby simplifying the daily task of travelling to various parts of the city. For example, if you buy flats in Barasat, you’ll stay considerably close to the airport, local railway stations and upcoming metro link for an easy travelling affair.

With connectivity, the region has also seen an improvement in commercial facilities. The region now consists of popular schools, health care centres, malls, departmental stores, entertainment zones, etc., thereby meeting your requirement for a well-rounded lifestyle.

Hence, does luxurious lifestyle and North Kolkata goes hand in hand? We can say without any second thought they do go hand in hand. Hence, North Kolkata is becoming a hub of high end residential projects to provide you with a posh living standard. Are you planning to buy a new home? Why don’t you check out the residential complexes in this region? Your dream home is probably hidden here.

Beating The Instant Buyer

Being so close to Halloween, I thought I would write the scariest article to real estate investors and Realtors that I could think of. iBuyers are the zombies eating away at your opportunities. They are murdering growth and killing dreams!!

Let’s start with what an iBuyer is and what they do, and what we as agents and investors should do to adjust to this new norm. The iBuyer is an instant buyer. They use technology to value property and determine an offer price instantly. The property owner would call up the company and will have a cash offer on their house the same day. This sounds great for the seller, and terrifying for agents and investors, but let’s dig in a little. Of the large iBuying companies, they all will require an inspection after they contract on a home to determine what repairs are needed. From there, they either require repairs to be made or they change their offer price. The offer always comes in below market value and there are typically fees involved with going through the process. The fees vary from iBuyer to iBuyer and market to market, but tend to be between 6% and 10%. The three largest iBuyers are Opendoor, Offerpad, and Zillow. Redfin has also hit the market.

So, what do real estate agents do?

It seems like iBuyers and agents can work closely together, and the increase in this trend will actually help the agents that adapt and take advantage. Here are two ways:

Referral Fees: Most iBuyers will pay a referral fee. According to the Opendoor website, they want to pay agents a 1% fee if they bring in a client. They also state that once the house sells, the agent will get the buyer. According to the website, 87% of buyers prefer to use an agent when they buy so they won’t actually buy a house from an iBuyer. There are several agents that will work with buyers and get three or even four offers from iBuyers. They will work with the buyer through the inspections and present all the offers to the seller. The seller can then decide to work with an iBuyer or not. If they do, the agent will get their referral fee without much of the work that goes with a typical listing. This is one-way agents advertise, “guaranteed offers” in their marketing.

Listings: Zillow has been in the lead generation business for years. They produce thousands of buyers leads that they refer out to agents for fees. This is their primary revenue generator. Now entering the iBuying space, they are generating sellers leads as well. From what I have read, Zillow only buys about 2% of the offers it makes. With each offer made, they collect a significant amount of data from the seller. Because they collect so much data, the barrier to work with Zillow is set pretty high, meaning these are higher quality leads that they can now sell to agents or refer out for a fee. I know many agents that would be happy to pay big for leads like these.

iBuyers are not yet a real threat to agents. In Phoenix, which is the most established market for iBuying, less than 6% of homes are sold with this strategy. That number is closer to 0.4% nationally.

What about Investors?

I believe iBuying is a bigger threat to investors than it is to agents. One of the biggest advantages investors have, or had, was their ability to make quick decisions and close on houses fast. iBuyers are cutting into this competitive advantage in a big way. There are, however, two advantages that investors have.

Higher Price: Creative investors can pay a much higher price. Now if you look at a strictly cash offer, investors may have a hard time competing, but what if the investor plans to hold the property for a longer term? They can typically finance those properties with favorable financing, which allows them to pay more than the iBuyer will with their fees. But it goes beyond that. Investors can also be creative and make offers to owners that involves payments over time, which increases what they can pay for the home, and can have huge benefits to the seller. What if the seller does not need or want all of the cash out of the home, and would prefer a monthly income or a higher return than they would get in the bank?

True Fix and Flips: There was a time investors could easily find fix and flip opportunities where the houses did not need much work. They could fix the house within a month for less than $20K and sell for big profits. The market has already made these transactions harder, but iBuyers will further cut into these opportunities. The opportunities the iBuyers won’t cut into are the major rehabs. All of the big iBuyers want homes in good condition. In fact, their business model is to require repairs, or lower their price based on repairs. And, they won’t touch homes that need too much work. Those are the homes the fix and flippers should go after. If the house needs a lot of work, one strategy may be to encourage the seller to get an offer from an iBuyer so they can reinforce that they are going to need to work with someone willing to take on the job. According to the Opendoor website, they do not compete with flippers. They have a fee-based model and do not want homes that need major repairs. It says it right on their website!

Also, as a flipper, if you can find a way to add additional value, you can increase your offer, giving you the ability to pay more than an iBuyer. An example of this is if you can add square footage, a garage, or an accessory dwelling unit. These are things an iBuyer would never consider in their evaluation.

A SMART Approach To Real Estate

There are so many aspects, contingencies, scenarios, and differences, in real estate, it serves little sense, to seek, some, overly simplistic approach, but, rather, it makes more sense, to look at the bigger – picture, and proceed, with a SMART way/ method! Some of the considerations, should include: current economic state, as well as foreseeable future; consumer confidence; specific, personal needs; present finances; personal comfort zone; future financial possibilities; region/ area/ neighborhood, etc. With that in mind, this article will attempt to, briefly, consider, review, examine, and discuss, using the mnemonic approach, why this matters, and why, it is the wisest, possible approach.

1. Systems; sustainable; strengths; solutions; sense: When considering houses. it is wise, to avoid, simply, following, any emotional first – look, but, taking the time, and making the effort, to consider, all the specific house’s systems, and see, which might best serve your needs, etc! Consider, what you believe, the foreseeable future, may, offer, and select a sustainable place! Know, identify, and consider, every property’s strengths, as well as weaknesses, and determine, which one, makes the most sense, in the longer – run, and has the finest solutions, for your personal needs, etc.

2. Money; motivating; meaningful: Begin, by giving yourself, a check – up. from the neck – up, and in an introspective, objective manner, and knowing, if you can afford the up – front money, as well as the future financial responsibilities of home ownership! Your home must be personally, motivating, because, for most of us, the financial value of a house, represents our single – biggest, financial asset. Make the finest, most meaningful, personal, well – considered, decision!

3. Attitude; attention; aptitude; actions: Focus on why, and how, you can, instead of cannot! Proceed with a true, positive, can – do, attitude, and pay keen attention, the your options, etc. Learn as much, as possible, so you are prepared, and develop, the most relevant, skill – set, and aptitude. Proceed with taking personal charge of your life, and take the actions, needed and necessary!

4. Relevant; responsibility/ responsible/ responsive; realistic: Know your individual needs, and requires, and consider, your quest, in relevant terms! Take the personal responsibility, to take responsible measures, which are responsive to your present and future needs, in a realistic manner!

5. Trends; time – tested; timely; trust: Trust your little – voice, and know, which trends, are best fitted, to you! Learn the time – tested, industry – related, information, and avoid procrastinating, proceeding in a timely manner!