REALTY : Checklist before buying a home

Making home is what we all aspire once in our lifetime. But, “A home is not made of bricks and walls, it is made of dreams and affections”. Buying property is a one-time investment, thus, being careful and organized saves the drag.

Unfolding ‘A Must-To-See Checklist’ before making investment:-

1) Locality:

A good location while buying a property is of most importance. But what defines a good location? Well, there is no certain definition of a good location. It is totally person specific and based on the comforts, investment, connectivity, resale value and primarily the expectations of the buyer. And again, one needs to break the taboo of restricting the location criteria to the city premises or along the main road, since they can bring along several other issues like pollution, traffic, complexities and lack of amenities. The location should be best suited for one, in respect of connectivity to the nearby school, hospital, grocery store, shopping complexes, easy transportation and rendering comfortable living away from the hustles.

2) Personal requirement:

Moving ahead you should have a clear check of your needs and requirements based on the stability. That is, whether you need to buy a flat, apartment or a villa. The further specification of the space requirement and the number of bedrooms required should also be well thought of. A long term thinking and evaluation is expected here.

3) Amenities:

At first, you might not credit amenities as that important, but they are! . They form a recreational zone of your house and enhance the essence of your living while keeping pace with the modern living. Therefore, a focused priority check has to be made, keeping a futuristic approach to decide which amenities stand must and which one’s have room for compromise. The projects generally lure with the amenities, therefore you have to carefully differentiate between the real ones and the cosmetic ones.

4) Security:

Yes, obviously there is nothing more than a secure and safe home. How to know if your house is well versed with security? Well, the appointed security and a gated township of several dwellers create a zonal security. Therefore you must check if the builder is providing gated security and 24*7 power backup for the common areas. And, as I mentioned before, the security and comforts are not wholly dependent on the main-road side living or city dwelling as it bounces back with other issues.

5) Budget:

Then comes the real task. Here, you are expected to do a complete survey of the houses fulfilling your needs and compare their price. It is always advisable to compare price per square feet to know which project is cheaper. But don’t jump up to the conclusions based on the price, be careful, as there can be additional costs like registration charges , home loan processing fees, club membership charges, parking space charges, stamp duty, service tax, home loan processing fees, preferred location charges (PLC), etc. Then, the sum of all these expenses would account to the actual property cost. Though some builders only charge BSP(Basic Sale price) for the property that is inclusive of all.

6) Area Calculations:

Before registering or entering into the agreement, you should properly understand the area calculations. There are 3 terms, generally specified for the area calculation of residential flat/apartment. They are: Carpet Area: The area within four walls of the flat. Built Up Area: The sum of carpet area and the area occupied by walls of the flat. Super Built Up Area: The sum of carpet area, built up area and proportionate of common areas. The builders generally charge on the basis of Super Built Up Area.

And now, you are boastfully ready to decide what is best for you. The perfect execution of your dream house comes with the confidence in settling down the needs and aspirations with the eyes open to the forth coming challenges. And the above checklist ensures a swift passby through them. So, breathe in fresh, hold ur instincts, make intellectual moves and the best is just one step ahead of you!

Cheena Goyal