Buying an apartment is a very crucial decision for any individual. It not only involves someone’s hard-earned savings but is also prone to market and other risks. There are countless options for homebuyers that come with their unique features however there are a few notable points that homebuyers should consider before making a purchase:
1. Location- The location of the house is the most crucial aspect. A complete inspection of the area by keeping factors like connectivity, sustainability, social infrastructures, the scope of future development, and appreciation in mind before going ahead.
2. Value for money- It is very important to make sure that the decision adds value to the investment. Homebuyers can check the market appreciation potential of the region by evaluating various factors and speaking to market analysts.
3. The hidden charges- The homebuyers should strictly check for any hidden or additional charges before purchasing a property. Maintenance charges, local taxes, water and electricity bills, security, parking, and other charges should be clearly discussed.
4. Fix the budget: Fixing a budget makes the task easier. It helps homebuyers to shortlist their property easily and compare rates with other properties to find the best match, especially in a competitive market.
5. Record of land: The land on which the building is built is extremely crucial. Little research on the topography of the land, soil quality, and checking of title deeds, unpaid dues, and registrations are highly recommended.
6. Legal aspects: It is important to make sure to find out whether the property is legally authorized. All approvals and NOCs from authorities are a must.
7. Apartment Possession: To avoid the hassle of delayed possessions, the buyer should have a clear understanding of the timeline of the property’s possession. By clearing all doubts and mentioning possession dates, the homebuyers can avoid any problems in the future.