Buying a property is a one-time decision and of course it is a moment of excitement but at the same time it makes us to feel stressed out and even sometimes makes us to take a decision in hurry. This is why because when you look at some property, it makes you to feel that it’s our dream home. You get attached to something special about the property and every other aspect looks fine to us. On top of it, it will literally thrive you to block the property as soon as possible and jump into the process of arranging money for booking in advance, initiate with down payment and finalizing home loan.
But the decision should be taken based on overall family, life and financial concern so that later you don’t regret. Also just like a detective investigates a case and goes deeper down for analyzing a situation and then comes up with a conclusion, you should also do such investigations before you arrive to a final decision of buying a residential property in India.
So through this blog here I have come up with Top 10 deciding factors to check before buying any type of residential Property in India. The purpose of this blog is to help you to compare two or more properties but before that let’s see what are those 10 parameters that you should investigate before buying a property.
1. Builder’s Goodwill and overall Brand Quality :
Before you buy a property, it’s important to research about builder’s profile that how many projects had been already delivered and how much delay or gap in between was there. Go to builder’s company website and check about previous and ongoing projects. Search on internet with the previous project name where you can find some important information about it and you can also check few online reviews provided by clients.
2. Workplace Connectivity :
An important aspect to look before buying a property is the distance between your workplace and the property which you are looking for. This is why because a property which is 3 km away from your workplace is very different from the property which is 15 km from your workplace. Long Distance travel might incur fuel cost, time consumption in travelling and make you to feel frustrate each and every day.
3. Nearby Facilities :
You should check how far are Schools, Colleges, Hospitals, Markets, Shopping places and Buses/Train stations and other transportation services from the property since the access to other travel places is also very important.
4. Resale Potential in Future :
When we buy a property, we often tend to get attached to it by thinking that we are going to live there for next few decades but no one knows when things would change and situation might come to shift to some different location. It is always to think about the resale potential of the property you are going to buy. For example, you might be looking at the property which has common parking areas but what about future at the time of selling? While most of the people who are buying under-construction properties are very far from core city. So it’s very important to check about the future real estate development around the area. You can also find out the future development plan of Road construction, Flyover, proposed malls and other important aspects which might come up in the next 4-6 yrs.
5. Rental Potential :
Most of the people lend their property for rent and move to some other location. At certain times, when we realise that the property is not that attractive from rental point of view and make us to regret for the decision we have taken. If the property is centrally located or close to commercial places, you will never find any such issues to find the right tenant.
6. Air & Lighting :
Air and Lighting is something that will determine your daily living experience. The flat you live in should have good enough lighting (natural light) and also proper air flow from various angles. So when you look at some property, check if whether some other buildings are blocking the air and lighting. Also you need to check which side of the terrace or balcony faces the outside view.
7. Amenities Offered :
You should also check what kind of amenities are offered along with the property. Things like club house, parking, lift, gym, power backup, swimming pool are some of the amenities. Now you might be a simple person who want to have minimal things but at the same time if you want to make sure the property should have good resale potential then you should consider these things. After all, all these things will matter to you or for the people who is connected to you and for the one to whom you will be selling your property in future.
8. Construction Quality :
Before buying a property you should check with the construction quality such as checking the walls, overall look and feel, how is the finishing done and also whether does it look premium or the paints look like it will not stay longer. You can also check the wiring, fitting, tiles quality, etc. If it’s a under-construction project, the only option you have is to search on internet about the builder and their past project experiences and previous buyer’s feedback. Just search online with builder name or any previous construction project name along with “+ construction quality” words on Google and you will be able to find some deciding making factors.
9. Road Conditions around the Property :
A property inside the main road with zigzag streets not that wide and comfortable to drive even a vehicle doesn’t have much future potential value of getting better road for few more years. Travelling each day on same road will frustrate you in long run and also it’s not that safe in night. So when you look at any property, check the overall road conditions atleast upto 500 meters from the project.
10. Locality and people living around you :
You should research about the locality and the people living around your property. Whether you will be comfortable there along with your family? Will it be safe to step out in the night? Also will a member of your family will be safe to go on a walk for an hour in-case if they wish to? These are some of the things you need to look before buying the property.
So, these are some of the top 10 amazing tips that you should follow while buying any type of residential property in India.
Also, if you are looking for best residential properties in India then I highly recommend - Cadson Realty, a real estate company functioning in Chennai since 2013. The company deals with exclusive collection of residential and commercial property with detailed specifications.
I hope this blog was helpful in understanding that on what basis the deciding factor should be especially before buying any type of residential property in India.