Buying a dream home is on every person’s bucket list because of the long-term benefits you can reap out of the deal. However, most times people miss out on buying their dream homes due to an inability to meet up to certain criteria, a lack of proper documentation and a lack of proper knowledge about real estate and everything related to the subject.
There are a few important tips to keep in mind before buying your dream home. These pointers help in making the home buying process a lot easier and hassle-free. Let’s take a look at a few of them.
Do a Thorough Research on the Property
This criterion should be known to all home buyers, especially NRIs as this time is conducive for NRI investment in Indian Real Estate. Details of the property such as the dimensions, location, etc. are extremely important. It is also a good idea to check if the development is RERA compliant, has an OC certificate and is priced as per the newly-introduced GST guidelines. Additionally, make sure you check your eligibility for a home loan and plan your finances accordingly.
Scan the Resale and Rental Potential
The dynamic industry of real estate is known for the high returns it generates for the owner. Apart from checking if the property checks all boxes when it comes to changing your residence, it is also important for you to educate yourself on the resale and rental income you can make out of it. Opt for a locality which is fast-developing with unmatched social infrastructure. Make sure all basic facilities like reputed educational institutes, renowned hospitals, restaurants, malls, star hotels and banks are situated close enough to your property to complement your urban lifestyle. It is also a good option to check the rental rates in the neighbourhood to get a closer insight into the real estate market of the region.
Check the Connectivity to Other Parts of the City
Do not let hours of everyday commute make your dream home a living nightmare! While you are scanning your neighbourhood for rental and resale rates, make sure you tap on the connectivity aspect as well. Opt for a locality that connects you to all the major hubs of the city. From bus routes to Metro networks, opting for a property that is close to your work place or offers unmatched connectivity to your frequent destinations is your best bet.
Scrutinise the Quality of Construction and Amenities
The quality of construction plays a huge role in choosing the ideal property. Make sure the apartment has all the amenities and facilities as promised by the developer with no compromise on quality and finish. This checklist includes even basic resources like tiles, fittings, wiring, plumbing and painting. It is also vital to check if the property is free of leakage and infestation. If your property has any additional amenities provided by the builder like gymnasium, swimming pool, clubhouse, etc., be sure to check if they are kept in good condition as this could affect the resale value of your property.
Investigate on the Credibility of the Builder
There is a bigger chance of you getting your home loan approved by the bank if the property that you are buying has been built by a well-known builder. Aside from that, buying from a credible builder means that you will have no worries about the quality of the property offered. Additionally, properties built by reputed builders will all be RERA certified with a clear-cut tax structure and approved legal documentation.
These are some important points and parameters to keep in mind before buying your dream home. . If you are a home buyer in Bengaluru, be sure to check out the Bengaluru Home Buyer’s Checklist 101.
Head out to Legacy Builders today for the best properties in India and treat your loved ones to luxurious living.