Top things to consider before buying a property
Buying a home is one of the biggest decisions in every individual’s life. It is not only an emotional milestone for many but is also a huge financial step that demands a lot of planning and research. Whether you are a first time home buyer or a seasoned investor, listed below are the top things to consider before buying a property.
The three most important factors that either make or break a good deal in real estate are location, location and location! An ideal location provides the twin benefit of good social infrastructure and a high return on investment. Pick a location that has a good number of educational institutes, medical centres and entertainment zones to complement your fast-paced urban lifestyle. Additionally, look for areas that are closer to your workplace, or have a good variety of IT and industrial parks, offering a host of job opportunities. Apart from a thriving social environment, it is also important to make sure that the neighbourhood offers good connectivity to all parts of the city.
Amenities and facilities
A wide array of amenities and facilities enhances the value of a property and sets it apart from other developments in the market. Look for a home with a host of urban amenities like jogging tracks, gymnasium, gaming courts and a swimming pool. These basic lifestyle amenities eliminate the need to step out of the campus and provide you with a means of luxury and comfort right at your doorstep. Apart from world-class amenities, it is also important to look for top facilities like round-the-clock security, CCTV surveillance and pipe gas connections, to name a few.
Guaranteed return over a long period of time is one of the main reasons why real estate is the most preferred form of investment in India. The booming property market of Bangalore, backed by the flourishing IT sector of the city, has only added fuel to this fact. So strike the iron when it is hot by investing in a burgeoning locality that is fast-appreciating. This will offer guaranteed returns over time. Even if you are planning to rent the property out, you can generate a high rental income, which can help you pay off the monthly instalments against the home loan. Make sure the quality of construction is good, with world-class fittings, to make your property the complete package.
Having all the legal documents of the property in place is one of the most vital steps while investing in real estate. These documents will clearly indicate the transference of ownership from the developer or the seller to the buyer and verify the legalities of the construction. Make sure you receive the approved plan layouts of the building, the Building Completion Certificate (BCC) and the Occupancy Certificate (OC). Only once the licensing authority of the region certifies the project with these documents, basic amenities like electricity and water will be provided to the development. It is also important to receive the registration deed to ensure the property is registered under your name and to sell the property in an easy and hassle-free manner, in the future.
Type of property
Apart from top-notch location, unmatched infrastructure and a good host of amenities and facilities, it is also imperative to research on the type of property you want to invest in. Choose between different types of properties based on your preferences. You can opt for villas, apartments, row houses or penthouses. However, while narrowing down on a type of property, there is a list of factors to keep in mind like the cost involved, the freedom offered in design, security provided, the privacy of the building and much more. Furthermore, you can also choose between newly-launched developments to get the most out of your deal or opt for ready-to-occupy properties for immediate occupation.
The credibility of the builder
An easy way to guarantee all the above factors are taken into consideration is by opting for a reputed builder with decades of experience. A branded development will also have a good resale value and will generate high rental revenue due to the prestigious name behind it. Apart from credibility, well-established developers also ensure that their projects are RERA-compliant, providing buyers with a host of benefits like transparency in transactions and pricing based on the carpet area. This creates a win-win situation for buyers.
For instance, Brigade Group is a household name in the leading cities of the nation with a plethora of developments built in the top residential areas of Bangalore, Mysore, Hyderabad and Chennai. From gated communities to commercial buildings, you have a wide range of developments to choose from, that played a vital role in transforming the skyline of the city.