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Buying a ‘Dream Home’ is one of those achievements that is marked important in nearly everyone’s bucket list. Of all the big investments you are likely to make, none is as uncertain as that of buying a house. This is where a lot of research needs to be put in place to ensure you don’t take a wrong decision. We think twice before buying a smartphone, we look out for what is best in our budget, its features, specifications and a lot of things, then why not become picky while making our life’s big time investment?
Generally, we search for houses that are reasonably priced and do not consider other important factors. Therefore, to avoid getting into trouble ignore the hype and the haste and stick to complete research on the parameters that are listed down below:
Buying a property for the first time is exciting and in the flow, you may get a little carried away with regards to your budget, it might happen that your bank account may restrict spending beyond a certain amount. Before buying any property know how much of your savings can help you out. It is advisable to hire a financial advisor or take expert advice as they not only help you with homes available in your price range and other needs, but they can also help you with the agreements and authenticities.
Mainly one needs to find out what suits their budget and meet all their needs as property vary depending upon various factors, for eg: property which is well connected in terms of infrastructure such as public transportation, shops, schools and hospitals, will eventually cost more than a property which could be a little secluded. The location of your home determines many things that will influence your property value. Thus, all the pros and cons of a location should be explored by the buyer while making a final decision.
Apart from certain basic facilities such as electricity, water and security, there are a lot of modern apartments amenities that could be provided in the project you are planning to invest in. These amenities could be swimming pools, clubhouses, party halls, gym and more. Comparing property amenities is always a better option, as it will give a clear idea about what other facilities are provided by the builder other than the property. These extra facilities provide convenience and are charged extra. Preferences for amenities vary depending upon various factors, and it is well worth researching on the same before making a purchase. If possible, you should also research on the tentative maintenance charges which could help you know your fixed monthly outflow.
4. Verify the builder and do thorough research:
One should evaluate Genuity of the builder on the basis of project delivery and amount of commitments he makes. Always compare a developer’s past record with their commitments.
5. Check the site and also construction quality:
At times the layout, as well as the floor plan in the brochure, could be different from reality, so do a thorough site visit before buying a property. Also when you go for a site visit check the construction quality of the project, by construction quality we mean that check the walls, their overall look, how the finishing is done. Check the wiring, fitting, tile quality etc. If the property is under construction then the only option you have is to search on the internet about the builder and past experiences of buyers.
6. Size of the apartment:
As we all are aware of the basic ways of measuring the house area - super area, built-up area and carpet area. The super area includes the proportionate share of common facilities, such as the lobby, corridors and staircases. The built-up area is the size of the apartment, including the walls. The carpet area is the actual size of the apartment.
A home buyer must pay attention to the carpet area that the builder specifies in the agreement, they always state the super built-up area that is 20-30 per cent more than the carpet area, so one must insist on finding the promised carpet area. Take a look at the building plans, so that you know the real size of the living space that you will get in the apartment.
Developers may verbally commit a certain delivery date when you go for site visit but it is extremely important to check the project completion date on the RERA website and also the date mentioned on the agreement. It is advisable to not be carried away by the verbal commitments by the developer's team.
8. Property price:
Property value depends upon the location, real estate market, property condition, neighbourhood and age of construction. In order to narrow down on your dream home, one must consider all the parameters that affect property price Prices of two projects extremely close to projects in the same vicinity may be different due to the parameters mentioned. Do not go by the price that broker tells you because there are chances that they only mention the basic price and do not include factors such as internal/external development fees, preferential location charges, parking charges, and GST, which increases the total cost.
Consider these parameters when you begin your house hunting process. They’ll help you focus on the core requirements & assist you to get a home that matches your desired criteria. Everyone deserves to get their dream home and we thepropertist.com can help you narrow down your search.