You are buying a new property. Great! You get are excited that finally you have the purchasing power. All your good friends and advisors tell you about the ‘Best Projects in Town”. And every viewpoint looks fine to you. On top of it, you feel the need to square the property and get into the procedure of orchestrating booking cash, initial installment and settling home credit.
When you purchase a Property, it is important to examine the property developer profile and his history. What number of ventures the builder has recently delivered. Visit the developer’s office and do the enquiry.
Before finalizing on the project, take some more time. This is a decision which will affect your family, life and funds. Also of course you do not want a stressed life in the coming years.
What to check when buying a property
Connectivity to your Workplace
An essential parameter to take a look at before purchasing a property is the distance between your workplace and the property location. It's something you need to decide as traveling to workplace for longer hours may not be your idea.
A property which is just 5 km far from your office is always preferred from the property which is 32 km from job location. Long Distance means rise in fuel expenses, time lost in voyaging and getting disillusioned, and wearing out every day for a long time to come.
Connectivity to Schools, Hospitals, Transport, Markets and so on
You may as well check how far schools, universities, doctor’s facilities; shopping centers and bus/train stations from the property. Easy and quick connectivity to these places are very important.
Resale Potential in Future
When we purchase a property, we should always consider the resale potential. You may always want to move to a bigger and better location. Or your job may take you to different cities and you want to get your property sold off. You do not want to sell your property less than what you paid for.
Many buyers go for properties in upcoming locations and expect prices to rise. So it's a vital focus to check about what's the improvement expected in the location selected. Check for infrastructure plans such as proposed shopping centers, flyovers, roads and different things which may come up in next 5-8 years.
A ton of times, individuals buy their property and the give it on rent. Reasons may be different for different buyers. Before deciding to buy property, think about the rental prospects. If you buy a new home which is close to schools or near business districts, you will get families or singles interested in taking your property on lease.
Amenities offered in Housing project
Things like club house, shopping centers, swimming pools, play areas, gymnasium etc. are nowadays preferred by modern buyers. These are not luxuries anymore but necessities. If you have decided to buy a property, check for these amenities. you or your family members would require these amenities.
Plan of you Property
Air and Lighting is something which is essential for healthy living. The apartment you select in any housing project should have adequate lighting (natural light) and cross ventilation for air flow. Additionally you might check how the wind streams from different plots. So when you take a look at property, check if different edifices are obstructing the air and lighting or not.
Security and safety
These two are very essential before selecting a property. So when you take a look at any property, always ask details about these two important points. Ask developers about the steps taken to provide the buyers with safety features.
In conclusion, when you are buying a property, make a checklist of the above mentioned factors. These small details can save you from big problems in the future.
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