Owning a property is still a dream for many people. They invest their hard-earned money into this brick-and-mortar structure, called the house. They fill it with their dreams, articles that reflect their choice and make it a home of their dreams. However, there are several aspects that one must consider before buying your dream home. Here are 10 factors to consider before making your purchase decision.
Purchase a property that you can afford, do not overshoot. In case of flats or apartments, be aware of the hidden or additional charges.
While considering localities, check if it suits your lifestyle. Are you a person who prefers to stay close to work? If you are a sports enthusiast, are there any sports clubs nearby?
See if the location is convenient to all the family members. Explore the drawbacks and positives of staying in the shortlisted locality.
- Connectivity & transport
How well is the locality connected to other important city areas? Is there a good public transport facility?
- Basic infrastructure
How good is the availability of water? Is there Cauvery water connection? If yes, what is the frequency of the water supply? Are there frequent power cuts in the locality? What about the air quality?
- Clear title deed
Always do a legal due diligence before purchasing a property. Ensure the property titles are free of any hassles and that there will be no complications going forward. Go through the builder-buyer agreement very carefully.
- Social infrastructure
Before buying a property, check the nearby educational institutions, hospitals and shopping centres. Pay attention to details like how far are the nearest police station, fire station, parks and playgrounds.
- Resale value
Buy sizes that are always in demand. Also consider the brand you are selecting. This will help you get a good resale value later.
- Construction quality
Don’t go just by the look of the structure. Get its quality analysed by a structural engineer.
- RERA registered
If you are buying a new flat, apartment or a villa, ensure it is a RERA registered project. This protects you against structural defects for the next 5 years.
While buying a house, one must think of several aspects. Locality, basic and social infrastructure, quality of construction, title deed, and resale value, everything matters. One must take enough time to verify all these aspects in detail, before making your purchase decision.