Buyers generally look for houses or land in the greatest communities — or at least the nicest neighbourhoods they can afford — while looking for a new home. That's very understandable. However, by ignoring less prestigious or attractive communities, homeowners may be missing out on various benefits.

This article lists six reasons to construct or buy in up-and-coming communities. Read on!

Lower price points

It's reasonable to desire a location close to popular dining, shopping, and entertainment venues. Even if you're buying a house, you are looking for a good neighbourhood. When you plan to buy a property, you will search for land in the greatest communities or civilised societies that you can afford. But when you are trying to focus on affordability and feasibility, do not forget to keep your options open to not miss out on any benefits you may get in other places. 

Property prices in upmarket or more developed neighbourhoods will be more than those in developing areas. When you invest in a less well-known neighbourhood, your money can go a long way. Remember, with continuous infrastructure developments, areas with lower price points are appreciated in terms of price value and quality of living standards.

Personalisation

When you develop or buy a home in an up-and-coming neighbourhood, you get a better deal. As a result, you now have the cash necessary to design your ideal home. Instead of modifying your demands depending on existing space, you might consider retrofits and renovations that will help you design the home you want to be in. There's an additional perk of living in a developing neighbourhood. You have more freedom to make outside improvements without having to worry about zoning rules or other neighbourhood constraints.

Increased resale value

Because the area is still developing, you can get in before costs spike. You can also considerably boost the home's resale value as a result of your renovations. Just make sure you're aware of the neighbourhood's real estate trends. Understand and know what's going on in the market. Avoid depending only on word-of-mouth recommendations, which can be deceptive. It's critical to conduct research, examine the people and businesses relocating to different areas, and allow the data to guide you to the best community for you.

It can take five to ten years for a community to truly shift once it begins to transition. Early home buyers, on the other hand, can benefit greatly. In up-and-coming locations,  sweat equity homes provide a reduced entry point for buyers and the opportunity to be a part of the transformation if they remodel a property. You'll not only get a return on your investment, but you'll also benefit from the neighbourhood's appreciation. Less crowded and less polluted areas are also now in growing demand, with people becoming more aware of health hazards resulting from pollution and smog.

An existing sense of community

You might want to look for a neighbourhood with an established sense of community where you and your family could fit in and thrive while you hunt for the ideal location. Moving into a neighbourhood where you appreciate the mood of the neighbours, the possible career prospects based on the firms that are moving into the area, and the chance to genuinely make the house and community your home is a blessing. This is because it makes it easier for you and your family to adjust to changes in your living situation.

Appeal to a larger pool of tenants and buyers

If you're looking to buy a house to flip and subsequently rent or sell, there are several benefits to buying one that’s in an upcoming area. For starters, you'll save money up front, but you'll also increase your chances of finding decent tenants or selling quickly and profitably. As per housing.com, nearness to healthcare infrastructure and security will be the key to closing a home purchase in 2022. Potential homebuyers rank it as the highest desired amenity this year in their Consumer Sentiment Outlook for 2022.

Everyone wants to cut their living expenses, and many people are being priced out of the most desirable places in today's rental market. As a result, they're focusing on — you guessed it — up-and-coming areas. This implies you won't have any trouble keeping your rental home rented. As the neighbourhood becomes more desired, you'll be able to raise the rent. If you're wanting to sell, buyers may compete for a property that has already been improved.

Where to buy plots-

As per housing.com, the top five localities to lead the national residential demand in 2022 are Greater Noida West (Noida Extension) in Greater Noida, Mira Road East (Mumbai), Andheri West (Mumbai), Borivali West (Mumbai), and Whitefield (Bengaluru). Large-scale infrastructural improvements, low tax rates, current trends, and government policy pushes all contributed to the country's next wave of real estate expansion. The good feelings in these markets were harnessed by pandemic-infused tendencies along with low-interest rates, affordability, and other beneficial considerations.

However, when it comes to choosing a place for a real estate investment, there are a number of factors to consider. Factors such as the city's real estate market price patterns, planned projects, and connections, among others. So you'll get a two-sided examination of the city here: one that focuses on essential criteria like livability, ease of living, sustainability, and so on, and the other that looks at the city from a different perspective. Let’s take a look at the top upcoming cities where property value is appreciating gradually:

Bengaluru

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Bengaluru remains one of India's fastest-growing cities. The comfort of living, excellent quality of life, developing IT parks, and manufacturing centers are the primary reasons for investing in Bengaluru's real estate. The city's real estate market is teeming with investment options that promise huge profits and rapid appreciation.

While developers are constructing world-class properties such as lovely row houses and sophisticated apartments, the concept of plotted development is sweeping the Bengaluru real estate market. These ready-to-build plots strike the ideal combination between elegance and practicality for the discriminating buyer, having been designed with the environment and sustainability in mind. These plotted developments are a huge appeal because of the relatively low investment and guaranteed increased returns.

North and South Bangalore have been highlighted as some hot areas with real estate investment potential. The city's appeal is enhanced by its pleasant temperature, excellent connectivity, and cosmopolitan atmosphere. Here's why now is the ideal time to claim a piece of Bengaluru for yourself!

Mysuru

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Mysore is being promoted as a desirable destination to invest in real estate. This city is not just known for its royalty but also for its cleanliness and citizens' kind demeanour.  In recent times, the city's infrastructure development and economic status have received a boost. Mysore's economy grew as a result of its openness to individuals from diverse regions, religions, and cultures. Its real estate is expected to surge post-COVID-19.

The 10-lane freeway is currently the most prominent project, overshadowing other ongoing projects. This highway is hailed as the long-awaited economic corridor between Mysore and the state capital. Even among NRIs who wish to return to India, the real estate market in India is gaining prominence. The Mysore – Chennai High-Speed Train Corridor is another aspect worth mentioning.

Hyderabad

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Hyderabad is one of the most cost-effective places in which to invest. The two most essential factors for real estate investment in Hyderabad are the low cost of living and the excellent infrastructure. Furthermore, the city is well connected by highways such as the NH-163, NH-765, NH-44, and NH-65. The South and Central Railway Zones, as well as the Rajiv Gandhi International Airport, provide excellent transportation options.

Hyderabad is a sprawling metropolis with a diversified population. Residents of Hyderabad have gradually become a cosmopolitan community who have relocated here from various locations throughout India as work prospects have risen in recent years. Due to the increasing rate of infrastructural growth and price appreciation, a majority of them are eager to invest in a home in the city.

Mumbai

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Buying a property in Mumbai - the city of dreams is on everyone's bucket list. The comfortable sea view properties in Mumbai are a great investment portfolio for any buyer. This is due to the must-have weekend getaways like Marine drive, the Worli-sea Face, etc. The soothing sea breeze and bustling youthful crowds make it one of the most desired cities to live in, making it a fine real estate investment choice. 

Andheri (East), Kandivali (East), Goregaon  (East), and Malad (West) are some up-and-coming ideal locations where you can invest in pocket-friendly properties.  Many properties are under construction, waiting for the completion of Metro Line 2A in Mumbai, eventually connecting the Dahisar West, Andheri West, and  Goregaon West. Mumbai is a gateway of opportunities for anyone who wants to make it big in their life whether an individual or a family. 

Chennai 

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Chennai is a perfect amalgamation of rich cultural heritage and technological evolution. Offering its residents a wide range of residential options, the city also caters to the need of the IT population for high-end and mid-end homes. Chennai continued to observe growth even during the pandemic where most cities and states found their economies slowing down. The stable sales numbers during the three-quarters of a pandemic are the most significant reason to stay optimistic about investing in Chennai.

For example, Mount Poonamallee High Road, Pallavaram -Thoraipakkam Road, etc., have emerged as hotspots for residential locations. The hike in demand for residential and commercial options supported by the supply will, however, increase the price of investment in the coming years. The industrial hubs Avadi and Ambattur look promising in terms of potential destinations that will be in demand by end-users, investors, and many others. 

Some other areas like Pallavaram are experiencing demand for homes, offices, etc. The strong IT growth and connectivity are expected to boost demand even higher in the coming years. Therefore, these reasons are enough for you to consider Chennai as your ideal investment place. 

Noida 

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Noida has been providing top-notch amenities, modern infrastructure, and facilities in recent times. It has emerged as a city where people dream to live in the future. The city provides everyone with many options to choose from while investing in real estate. 

• Sector 150 

Sector 150 features residential and commercial projects like Tata Value Homes Eureka, ATS Le Grandiose, Godrej Palm Retreat, and many more. Sector 150 offers top-notch facilities with high living standards. People can get many affordable or feasible options to invest their money in. 

• Sector 50 

Sector 50 brings a majestic look to Noida. If you are someone who has always dreamed of having a property including a skyscraper, Sector 50 has more than 15 in its area. You can also get easy access to bus and metro facilities. 

Apart from these two locations, you can choose from Sector 137, Sector 71-76, etc. Noida has the best healthcare facilities like Felix Hospital, Neo Hospital, education facilities like Birla Institute of Management Technology, Noida International University, and much more. 

Conclusion

This could be a great moment to buy a home if you're a first-time buyer or looking to upgrade your lifestyle. Currently, there are two key factors in favour of home buyers: lower housing prices and lower costs of financing to purchase a home. Because residential purchases have increased and affordability has been matched by low house loan interest rates, Bengaluru, Mysuru, and Hyderabad are expected to dominate India's residential real estate rebound in the near future.

Given the tremendous growth and expansion of these aforementioned cities in all aspects, including infrastructure, it is vital that real estate values continue to rise at a faster rate than before. If you ask us, now is the finest moment to invest in Bengaluru, Mysuru, and Hyderabad real estate. If you want to invest in a brighter future, these are the greatest cities to choose from, and now is the best time to do it! At Brick & Bolt, we have the best construction solutions to make your dream home a reality. Connect with us to know more.