Indians are known to overlook aspects which
are considered important by people worldwide. For example, while buying a car
in India safety and quality takes the back seat while mileage and pricing takes
the front seat! We are indeed a practical group of people but some important
factors have to be considered while buying something that stays with us for a
long time. And when it comes to long term investments, buying a home is the
most important purchase of all.
In this article, we try to cover some of
the points which are generally overlooked by us but should actually be
considered as important as the price and location of the house we buy.
Better
safe than sorry – Home Protection
Be it a rural area, town or a metropolitan
like Chennai or Mumbai, buying property should always consider the safety
aspect of the home. If you are purchasing a plot make sure that the locality
has a police station, fire service center and also opt for a gated community
for added security.
If it is an apartment make sure that the doors
and windows and the locks provided by the builder have grilled reinforcements and
upgrade them to better quality gear if needed. If your purchase is a retirement
solution, make sure that there is help readily available in the form of an
association that is helpful.
Legal
opinions and second opinions!
Never jump in blindly going by the tags
‘Clear Title’, ‘100% Documents’ and such. Those are commonly used marketing
jargons that are in no way validated by anyone. Get the copy of the documents from
the builder / developer / promoter and get a legal opinion of it.
Don’t shy away from getting a second
opinion if not confident enough. Also, if the property ownership is going to be
joint ownership, get the legalities out of the way first up without rushing into
it at the last moment.
Surroundings
matter
It not just how the house is on the inside,
but the approach and surroundings also matter. Often builders lay out a lawn, a
pool surrounded by a jogging track and greenery to attract buyers. But if the
project is nearby to a waste land or a swamp it is going to be a tricky place
to live in!
In the same way, if the approach roads are
not well laid or if there are slums nearby, if will be a problem in the longer
run. Residential apartments near to industries that pollute are highly not
recommended. Research around and see and ask opinions about the locality.
Builder
History
There is nothing wrong in trusting a new
builder but it is always a safe bet to invest your hard earnt money with a
property developer who is well established in the real estate market. With
experience comes better quality. Also, visit old projects to see how the
construction holds up. Do check on how long the builder supports maintenance
for the building after handing over for occupation. The longer the warranty,
the more confidence the builder has on his own project!
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