Property is often a one-time investment for many. Therefore, it should be an ideal space that is best suited for your requirements. For example, the home should have a great resale value, street appeal, enough improvement and personalization potential, and a stellar location.
You might also consider features like balconies, garages, front lawn, and patio to improve the aesthetics and living conditions. Further, it’s a good idea to keep your current and future financial condition in mind. This will help you plan your purchase accordingly, without having to alter your lifestyle.
Your home is much more than just an ‘investment’ or a real estate purchase. It should be able to keep you and your loved ones happy as long as you reside. To ensure the same, have a look at a few important factors to tick off before buying a home in India.
1. Working with Home Search Sites
Be it flats in Bangalore or any other metropolitan city; consult a reputed property search website. The best one is equipped with local experts who can share unique insights about various localities. Many websites can offer you a list of over 300+ houses under construction, ready to move, and pre-launch properties. Make an in-depth comparison based on preferred location, EMI, and features. Property search sites can also provide professionals who will offer end-to-end support at every step of the home buying journey like site visits and negotiations.
2. Knowing Government Regulations
If you are planning to build or purchase apartments in Pune or other top cities, consider checking the government building codes. These could be anything from the paints you can use to the materials allowed. It also influences the design, maintenance, and alterations of houses in a specific area. Read the terms and conditions thoroughly before starting the project.
3. Understanding your Needs
Indian joint families structurally consist of 2-3 generations living under the same roof. If you too have many family members, consider the size of the flats in cities like Mumbai first. Get in touch with the architect to communicate your plan. Monitor the construction or renovation regularly to avoid costly mistakes. Further, you can check for sustainable additions like LED lights, backyards, and front lawns, guest rooms, or a terrace garden according to your requirements.
4. Checking the Rental Potential
You might put your property on rent and move to another locality. Therefore, check whether it is appealing from a tenant’s point of view. It should be well-connected to major office areas, commercial hubs, schools, and hospitals. Further, the neighbourhood must be safe and secure with low crime rates. These factors make the properties desirable to tenants.
5. Home Loans
Getting the right amount of loan amount can ensure adequate financial backup for purchasing flats in Bangalore or other metropolitan cities. Pick a bank that offers easy eligibility and basic documentation. Home loans today can be disbursed within 72 hours after reviewing the application on spot. Further, check for subsidy benefits of up to ₹2.67 lakhs under the PMAY Scheme. Home loans are ideal financial instruments to ensure your dream home in the country.
Keeping these tips in mind can improve the chances of getting a good property in India. Do check for the hidden prices and read the contract thoroughly for the best results.