After years spent being a renter, there comes a point when you decide to stop throwing money away on rent and buy an apartment of your own instead. However, before stepping into the shoes of a homeowner, you will need to do a bit of important homework first. Here’s a look at some areas to consider before making a commitment towards your dream home.
As anyone will tell you, the locality is one of the most important things to consider when buying a home. Aside from providing a good resale value, your home’s location should be in an area where there are adequate infrastructure, safe neighborhoods and easy accessibility of facilities like hospitals, shops, and public transport.
Before going home-shopping, you need to get your math right and decide on how much you can spend on buying a home – and then stick to that decision.
Ensure that are no sources of air or noise pollutions close to your intended home. Drive around the neighborhood at different times and ensure that the area isn’t prone to traffic snarls and there are no bars close by. A secure neighborhood will also ensure peace of mind as your kids walk home unattended.
Going with a branded builder ensures that all transactions will be transparent and above-board. You will also be getting what you paid for, as big brands can’t afford to get their reputation sullied.
You will need to clarify what the carpet area is (the actual area of your apartment). It is different from the super built-up area which also includes shared areas with other apartment owners.
Prior to finalizing the deal, you will need to find out the monthly charges for the shared facilities and amenities. To confirm whether it also includes car parking.
Play safe and ask for copies of all building permits and certificates as well as land records of the plot on which your apartment stands. Ensure there are no encumbrances involved and the building is legally clear of any entanglements.
If the apartment is ready-to-move-in, then check that all the amenities and facilities mentioned in the brochure are actually available on the ground too.
It is the general practice to pay 20% upfront and to take a bank loan to pay the remaining amount. Shop around till you get a bank offering package deals that suit your pocket, without impinging on your lifestyle.
If you are home-shopping in Trivandrum, then check out the beautiful Muthoot Homez projects available in prime locations.