Have you evaluated your requirements? It is very important for a buyer to have a clear head in terms of his/her requirement. Ashwini Bhardwaj, a local real estate agent in Delhi says, “Many a times buyers look for king size apartment and in some cases the requirements are that of big garden, modular kitchen, calm locality, affordable budget and the list goes on. It is extremely significant to ascertain their needs and then start looking for home.” You must be clear about the size, type and the kind of apartment you are looking forward to before investing.
New or resale: Another significant factor is to decide and know whether investing in new or re-sale property will be beneficial for you. Take time to analyze the worth of both new and re-sale property based on your needs and lifestyle. Resale properties are priced less in comparison to new properties. Sometimes they are same priced until and unless it is a under construction property with upcoming social infrastructure.
Amenities: Buyers should consider the liveability factor of a particular locality prior to making investment. It’s not only the nearby schools, hospitals, malls and grocery stores that helps in making decision. Rather, the amenities and facilities available within the residential housing project matters a lot. For children and senior citizens amenities such as medical centre, children play area, swimming pool, club house, among others should be within the residential complex so that they don’t have to venture out to play and socialise respectively.
Location! Location! Location! = Right location: Selecting a right location is one of the most complicated aspects of property buying. Every buyer has their own set of preferences like distance to work space, school, malls, bus stops, metro station, etc. It is extremely essential that the area is well-connected to the other parts of city. As a buyer, you need to identify the right location that match well with your needs.
Infrastructure: The place where you are looking forward to invest should be equipped or must be in close proximity to established schools, health care facilities, parks, public transport, grocery stores and others. Whether, an end-user or investor, surrounding infrastructure matters a lot as it decides liveability factor of the locality.
Developer’s credentials: Prior to making investment, it is extremely important for you to do a proper check of the property market and the reputation of the developer. The check must include market presence of the developer, status on the past completed projects, credibility on project delivery and reviews of the past buyers. It will help you in getting an idea about the capability of the developer and also his construction capability/quality.
Explore options: Do not stick with one option rather go explore various types of housing options under different brand names. This will help you get a better understanding of the market to make the best property decision.
Check for project approvals: Before putting your hard earned money in a residential housing project, it is important that you check and enquire about the builder’s credibility. Also check for the project approvals. Being a buyer you have all the right to demand for documents associated with approvals procured from the local authorities.
Know the hidden costs: Hidden costs are one such expenditure that may take many home buyers by surprise. These hidden costs often escalate the total cost and make it very difficult for the person to handle the expenses. It may include interior cost, maintenance deposit, parking space cost, registration cost, among others. So, it is smarter to be aware of these costs and be ready for this additional expenditure.
Legal issues: Property transaction comes along with legalities which is sometimes very difficult to understand. Legal experts are the one that help you with the legal issue titles such as No-objection certificate, transferable title, record of right and title, stamp duty charges, tax and many more. You can check the legal advice section of Magicbricks.com to make right decision.
Source - TOI
No comments:
Post a Comment