Any investment, big or small warrants assessment. And the purchase of a new apartment is a huge investment which involves meticulous evaluation, as you are spending a sizable amount of your savings, plus more. While it can be daunting and tiring to find the right place, you must take solace in the fact that house-hunting with a tested checklist will take some of the heat off.
What is your budget?
Do a bit of research on current market prices and get a fair idea of how much an apartment costs in the locality you are keen on and see if you can afford the same. Talk to your loan agent (you can find verified agents through getspini.com) and understand the amount you are eligible for. Be sure to bear in mind extra costs like taxes, stamp duty, registration etc. which aren’t mentioned in the brochures.
Who are the builders?
Whether its an established builder or a new one that you like; visit their site/previous
projects, read consumer reviews about the company, their services, adherence to delivery dates and the like. Meet with their representatives and ask as many questions – it is your money being invested after all.
What is the law?
All property plans have to be approved by the Government of the state. Always read the
fine print and ensure that the plans follow the laws set by the government, with no
deviations from the original. Get the government approved documents, including clearance certificate and consult a legal professional to rest all your concerns.
Is this the right place for me?
As you get future ready, your new home should too! It is important for you to understand
how the apartment and the area around will grow. The location should offer scope for
development in the coming years if not immediately. Factors like proximity to the city, good schools, hospitals, airports, train/bus stations, banks, easy connectivity to neighbouring areas etc. will determine the return on your investment as well.
What do the amenities include?
The building developers will list several amenities in their advertisements but the buyer
must not be swayed with the frills and should look at the deal in entirety. Ensure that all the basic facilities are provided and only then assess the luxury features the builder is offering – this will help you evaluate between competitors too.