Many of us have grown up with the dream of building or buying our very own dream home. However, as it is one of the largest investments one can make, it is imperative for home buyers to carefully evaluate every single detail, from costs, government policies, taxes to the loan plans.
Therefore, to make the entire process less stressful, we are putting together a checklist for you:
Good research gets one closer to one’s dream home, effectively and quickly. Days are gone when the home buying decision was largely influenced by real estate agents. But today is the age of developers, giving their potential investors a virtual walkthrough while social media platforms define their buying decisions, giving them a unique buying experience. Now one can evaluate and compare properties basis each individual criteria and requirement. In present times, the investing decision of the buyers is majorly driven by the latest amenities which the projects offer. Also online, one can easily gather information about property prices, processes of acquiring a property, documents required during the transactions.
It is advisable to check the basic amenities, like the plumbing, construction, and safe electrical connections. It always makes more sense to weigh the pros and cons before acquiring the property than realising it post occupation.
The concept of luxury living is witnessing a paradigm shift. In present times, as the real estate industry goes through a strong resurgence, the one thing that has remained constant is the importance of project locations. A prime location, closer to economic parks, recreational centres, educational institutes and hospitals, should always be favoured and be an instrumental factor during decision-making.
3. Evaluate lifestyle needs
Today, the decision to invest in a home is mostly governed by lifestyle needs. Hence, before making a final investment, we need to consider several factors such as the residential location, amenities, views, infrastructure status, surroundings, proximity to commercial and recreational centres, transportation facilities, potential capital appreciation, developer, and most importantly, the budget.
4. Financial assessment and availability of capital
After taking into consideration the above-mentioned key factors, one should carefully analyse one’s budget, value for money and address the financial commitment during purchase,…