Here are a few guidelines that any prospective buyer needs to keep in mind while pursuing their dream home:
Tip no 1: Budget – Budget is not just the cost of the property – it includes numerous non-obvious costs such as lawyer’s fees, stamp duty, registration fees, home insurance premium, and property taxes. Figuring out the monthly expenses like insurance, EMIs, expenses on utilities, maintenance and property taxes is also extremely important. Basic home prices and charges like External Development Charges (EDC), Preferential Location Charges (PLC) should be carefully looked into before getting into any kind of transaction. If you are buying a new home, you will also need furniture, fittings and gadgets for the home. This cost too should be considered in advance. Alternatively, if you are getting an old home, there might be renovation or redecoration costs involved. One must understand what one’s budget is, so that you can narrow your search into a manageable process.
Getting your financing in place before going forward with the transaction, keeping in mind the fine print that includes the terms and conditions, and not forgetting to read them properly with regard to the conditions apply when you think of going in for a loan is what eventually determines what you pay.
Tip no 2: Area Analysis – The area or location, in which the property is situated, is usually what determines which school your children will go to, which club you choose membership to, etc. Keeping in mind these factors, it is advisable to look carefully at the area around the property too. The commute time and public transportation options available to one’s work place also should be a considered a deciding factor.
Tip no 3: Detailed Research and analysis – The first and most important tip before starting the buying process is to do an in-depth research or study on each of the developers and projects, financing options, the preference in amenities etc. Doing a background check on the past properties as delivered by the developer and whether they were delivered on time also helps. Real estate agents along with websites and blog sites, now make it possible to obtain the correct information about a project and its developer.
Tip no 4: Clarity on Carpet / Built-up area of the apartment – It is important to seek clarity from the developer with regards to carpet area, built up and super built up area before investing in the property. This will help in determining – how spacious or crunched your apartment is. The more the carpet area offered, the more spacious the apartment is.
Tip no 5: Assured amenities and facilities – A list of amenities and facilities that are assured by developers, are announced to the prospective buyer through the sales agreements and brochures at the time of purchase. These are part of the total price component. Inquiring on a regular basis about the status of what is assured, and what is delivered eventually by the developer, will help one to be rest assured of the final outcome.
Tip no 6: Land titles and Documentation check – It is of utmost importance that home buyers ensure that clear land titles and occupancy certificates have been given by government and other concerned authorities, to the property they are investing in to avoid any delay in the possession.
Under Construction – For an under construction project, you should ask for the allotment letter and development agreement. The allotment letter contains details regarding the agreed price, payment and construction schedule, house plans, delivery date and builder’s liability in case of late completion or problems after possession.
Constructed Property – In the case of a constructed property, you should ensure that the seller has the title and possession of the property as well as the right to transfer the property. Check whether dues such as property tax, society, water and electricity bills, etc. have been paid in full. Make sure to take possession of all relevant documents and the original allotment letter, completion certificate, occupation certificate and all other documents, given by the original builder.
It is essential that all documents are in place before proceeding for purchase. This includes documents like the Agreement of Sale, which includes all the terms and conditions of the transaction and all critical information concerned, the Sales Deed, to check if the pricing is right, and to see if it suits your budget. It is critical that all the relevant documents are in place so that your interest is safeguarded in the long run.
Tip no 7: Haste makes waste- Another must, is to view the property multiple times. Since you are going to be spending the next few years of your life here, visit the property 2-3 times, at different times of day. Note how you instinctively feel about the property. Can you really call this place home? Maintain a viewing checklist on which you can rank the different properties you are visiting on the criteria that you have prioritized. Do not make the mistake of being forced into a decision to buy a property under pressure from anyone or because you had very little time to view the property.
These guidelines can help you chose the home of your choice, minus the inconveniences. Real Estate in India has been evolving over the years in terms of competition, with real estate developers aligning their focus on quality and transparency in projects. It is vital, however, that home-seekers have a strong groundwork before purchasing an apartment on all the above factors as well as choosing the right and reputed brand as a reputed developer will have a consistent track record of delivering on promises and has a lot at stake if it doesn’t meet its promises.Since the Property of bhiwadi growing better than Delhi-Gurgaon-Noida, one of reputed developer of bhiwadi Krish Group Who developing 10 residential project and 2 commercial and any other project of farm land , villas . But Required of 1 bhk apartment in bhiwadi ,2bhk apartment in bhiwadi and 3 bhk apartment in bhiwadi are most demanding because of timely delivering the project to Customer .