Things to Look for When Buying a House | Buying Property in Pune
Buying a new home is an important milestone in our lives. Pune will spoil you for choice if you’re looking for an abode. From affordable homes to premium and ultra-luxury homes, Pune offers them all. Involving a huge financial sum, deciding on one is quite daunting. You don’t buy property every day, do you? So what are those things to look for when buying a house?
Checklist When Buying a New Home
Location
The location of your abode must be carefully chosen. Here, you not only have to look at the current status but also be futuristic. Assess your family’s requirements for at least the next 10-15 years, and look for good schools and colleges, hospitals, markets, etc. The presence of excellent healthcare facilities, public places such as parks, prominent bus stops, metro stations, etc. increase the value of the property.
Apart from the infrastructure, the availability of public transport enhances the livability quotient. You must also check the connectivity of the location with other areas of the city. Check the proximity to major roads, highways, railway stations, and airports. When the connectivity is good, workplaces, educational institutes, etc. are easily approachable.
Budget
Amongst other things to look for when buying a house, budget is of primary importance. The first step in selecting a house is to finalize the budget. Once that is done, you may easily pick an apartment. You can make comparisons of location, developer, size of the house, etc. Set a realistic budget based on your current financial situation and how much are you willing to pay as EMIs. Don’t go overboard, strike a balance between affordability and your desired amenities.
Possession date
Consider the possession date given by the developer, as one of the important things to look for when buying a house. You might end up paying the EMIs of your new home as well as the rent of your current home.
Legal Documentation
Ensure that all legal documents are in place; the property’s ownership, title deeds, approvals, and encumbrance certificates, etc. The property must be approved for construction where it is located. The developer must have approvals and NOCs from the district development authorities, the water and sewer department, the electricity supply department, and the Municipal Corporation. In case, it seems difficult for you, seek professional help.
Hidden and Additional Charges
Check for any additional costs that you might have to incur when buying a home. Keep in mind additional costs such as stamp duty, GST, registration fees, etc. must also be taken into account when considering the things to look for when buying a house.
Developer’s Reputation
The developer’s reputation is one of the primary things to consider when buying a house. In a city like Pune where there is no dearth of developers to choose from, pick someone with a good brand value and reputation. Research their track record, review their previous projects, quality of construction, timely delivery, and customer feedback. Nirman Developers is a trusted name in Pune real estate circles offering some of the best property in Pune. With a trusted name behind a project, such as theirs’, you can surely invest your money.
Development Plans of the locality
Research about the upcoming Govt. infrastructure projects, any commercial developments, and planning initiatives in the locality. These factors positively affect the property’s value in the long term and must be one of the things to look for when buying a house.
Basic Amenities
You must assess the amenities and facilities offered by the project you have chosen. You may be seeking good fitness and sports facilities provided by the housing society or project like a gymnasium, a swimming pool, or a kids’ play area. Check for the proximity of your daily requirements like markets, grocery shops, schools, banks, etc. Also, check for proper water supply in the area and the status of power-cuts.
ROI
Evaluate the growth in property prices of the locality and its neighborhood, and figure out the rental income obtained for your home. Any property with good investment potential ensures long-term value and excellent return on your investment.
That was a handy list of things to look for when buying a house. Check out ongoing projects by Nirman Developers; these will perfectly fit all your requirements of a dream abode.
