Home Buying Tips
A recent survey has
revealed that about 67% of home seekers end up buying a
home that doesn’t accommodate their needs and aspirations.
It’s like a bad marriage where the couple is forced to
adjust to the circumstances. You have to be extremely
discerning when you search for your dream home. A few
handy tips are given here to help you zero in on your
dream home. Happy home hunting.
Location is everything
for a home.
The paramount concern when
you relocate to a new home should be convenience. The
location of the home should place you near to your work
place with urban conveniences like shopping and public
utilities within walking distance. Your kids must be able
to catch the school bus at your gate. If the access road
to your home doesn’t have at least 5meters width, it would
be difficult for two vehicles to pass comfortably. Please
also check out that the area has adequate power and water
supply. Check out these factors before buying a new home.
Home delayed is home
denied.
If you opt for a group
housing project like a villa or a highrise apartment it
will normally take 18 to 30 months (depending on the size
of the project) for the project to be handed over. Since
the completion of the project is dependent on factors like
timely payment of other buyers and the resourcefulness of
the builder, you should always go for a builder who has a
track record of timely delivery. More over, any delay in
delivery will accrue pre – EMI interest on your housing
loan,. Not to say of the agony of your dream eluding you
indefinitely.
You can't choose your
relatives.But the neighbours you can.
Where you are born is not
decided by you. But where you live is at your sole
discretion. When you relocate to a new home, make sure the
neighbourhood is your own social status and liking. When
you opt for an apartment or villa from a reliable builder,
worries about good neighbourhood are pre-empted. The
community you live among will be of your own liking. Your
family members will have an enjoyable social life. Your
children will have good company to play with.
You can't have more kids,
just for the sake of giving your child company.
The concern for your
children’s future is understandable. When you decide to
relocate to a new home, make sure that the home
environment is conducive for your children’s growth. A
little greenery and recreation facilities to play around,
and a few friends to share some meaningful time together
make a lot of difference. Opt for a home from a reliable
builder who provides amenities like children’s play area,
landscaped surroundings and round-the-clock security to
the community. Your children will have friends of their
own age group to interact with. Even if both of you are
working parents they will be safe at home.
Sense of security in a
community housing is amazing.
Most households today are
nuclear families. If both parents are working and the kids
are school going, nowhere else will you find security
available with a group housing. The security arrangement
in an apartment complex will ward off all unwanted
salesmen, beggars and suspicious strangers. Even if the
family goes out of town for a few days your home will be
safe and secure.
The next thing people ask
after your name is the address
When you meet a new
acquaintance, after the niceties the inevitable question
arises. “Where is your home?” Your address silently says
volumes about your background, your achievements and the
personality you are. If you are an owner of a prestigious
home address your prestige naturally rises. When you own a
new home, be careful about choosing the right address
which will grow in value and stature over time.
Will you feel like a fish
out of water in your new home?
Your home is your chosen
habitat. It is much more than four walls and a decent
roof. If your windows open to intrude a neighbour’s
privacy or vice versa, where is the peace of mind? If the
layout of your apartment obstructs free flow of natural
light and air, where is the cosy comfort you’ve craved
for? Only a builder specialized in community housing can
design and deliver spaces to ensure privacy, creature
comfort and an airy feel. Before deciding on your home,
check out design and layout and carefully go through the
specifications and dimensions of each space.
Don’t end up being a mere
tenant at your own home.
There’re some unscrupulous
operators in the real estate industry, who either mortgage
the land or sell apartments at a plot which doesn’t have a
clear and unencumbered title deed. Once the construction
is over, you might get the possession of the apartment
unit, but your ownership papers may have to wait till the
builder clears off all liabilities. Even the repossession
of the property by a financing institution and eviction of
the tenants are a distant possibility. Before purchasing
an apartment, demand for a copy of the title deed, and
once you make the necessary payments get your rightful
undivided share in the land registered in your name.
Your home is only as good
as the materials and skills going into it.
Constructing bridges and
buildings is one thing and creating a home is another.
Only a builder who has the experience in housing projects
and maintains consistent quality standards can deliver you
a home which you can live peacefully with. Check out
whether the builder has quality accreditation like ISO
9001. A good builder will have a better seasoned engineers
to oversee every aspect of construction in compliance with
the stipulated norms. Apart from the structure finishes
and fittings shall be of higher standards, installed by
skilled workforce.
Will your home remain a
proud possession even after several years?
Every apartment complex
looks good and inviting when it is new. As the years pass
by the vagaries of nature will take their toll on the
building. It all depends on the construction quality and
periodic maintenance of the structure and premises to keep
it as good as new for many years to come. Only a
professional builder adheres to quality standards in the
materials and skills used in creating a project. A
reliable builder also ensures the formation of a proper
Residents’ Association with adequate resources and
planning to take care of the future maintenance and upkeep
of the community facilities.
Even if you don't feel
the urge to own a home now, think of the returns it holds.
If you already have a nice
home, most likely you will be averse to the idea of owning
a second home. If you consider the returns on a home
investment, it is definitely food for thought. If you
deposit your savings in a bank. Your investment will yield
only margin returns. The unpredictable fluctuations of the
stock market and risks involved make it an unattractive
option. When you invest your money for a new home , you
can definitely earn around 7% through rentals. The value
appreciation of the property will add another 8% to your
investment every year. Even if you avail home finance,
part of the mortgage repayment will be taken care of by
rental earnings. Down a few years you will have a
substantial wealth to bequeath to your children.
You don't necessarily
have to save a fortune to own a home.
Money is not a stumbling
block any more to realize your dream home. Now easy home
finance is available from banks and housing finance
organizations. Interest rates are as low as 7% for a
tenure of 20 years with Equated Monthly Installments just
RS. 976* onwards. When you buy your home from professional
builders, most likely all their projects will have the
approval of leading financing institutions.
Independent house or
community home, you be the judge.
Some people have a notion
flat independent house is superior to community housing.
When you dwell deep into the pros and cons of both, you’ll
naturally opt for an apartment or community villa. Owning
an independent house in a good urban residential area will
cost you the skies. When you opt for an apartment from a
professional builder, you will get a home in a peaceful
residential area for a fair price. Besides there will be
common facilities like round-the-clock security, generator
back up, landscaping etc shared among the community. You
can really enjoy a comfortable urban lifestyle for a
nominal price.
Inspect a few projects of
the builder from whom you intend to buy your home.
