The very first step in finding out a dream home begins with searching out the right alternatives. Once the right options are searched, probably then only the property that best suits ones requirement could be eventually figured out.
However, it is not a very easy job. Buyers tend to have limited information about properties. Moreover, with an information overload all across ranging from the internet to newspaper & outdoor advertisements, it becomes further confusing.
Understanding the challenges & difficulties which buyers often faces, Square Yards presents certain guidelines, that could be of immense help in guiding buyers through their property search exercise. These points if carefully adhered to can simplify the overall process and make property search an interesting exercise, leading to dream home.
Optimize on Budget Limits
Deciding on a budget is the fundamental step in a meaningful property search. One must decide a budget, which is in sync with their social & economic identity.
Deciding on a right budget not only helps in effectively managing the financial resources available, but it also helps in filtering out the right set of properties from a vast available list.
Also one must be careful in defining the budget size- it should be neither very low, nor too high. A low budget would result into low quality home leading to inconvenience & dissatisfaction (Unfortunately since home purchase is a high involvement decision, once taken it cannot be rolled back)
On the other hand deciding on a higher side that could not be afforded will result into unwanted search & waste of time. It will also set the initial expectations very high, which would be difficult to reduce afterwards.
The Right Location
The next crucial point in an effective home search exercise is to search the right location. A suitable location that is conveniently placed with office, school & other essential entities and saves time in commuting. Likewise, it is advisable that location should have ample social amenities, good schools, colleges, malls & hospitals that can ensure a better quality of life. A vibrant location can also ensure higher price appreciation in the coming time.
Stage of Development
Once budget and location has been finalized, the next step involves estimating the desirable time to move in & accordingly look into properties. Different properties are at various levels of completion- pre launch, under construction and ready to move in.
Hence before finalizing the project, it is advisable to understand the exact status of the project and whether it will be completed before the buyers desirable time to move in.
It should be noted that purchasing a property closer to final completion of construction will involve a higher cost. However, this should also be kept in mind that if someone is using a rented house, it will surely save from the hefty monthly rentals, which is increasingly becoming the norm in Indian cities.
Configuration & Amenities
The crucial step in successful property search includes looking out for homes that suits the requirement of the individual & the family in terms of size, bedrooms & other essential configuration.
Likewise individuals need to understand the significance of the available range of amenities. Increasingly apartments are coming up with a wide range of modern amenities such as swimming pools, gymnasium, Yoga center and food joint etc. The presence of a good range of amenities can fulfill the fitness and entertainment quotient of the family. Similarly an illustrative list of amenities will also save from joining clubs, which has become very expensive in the recent past.
Builders Credibility
Increasingly the credibility of the builder is becoming an important parameter that needs to look into. It is important to verify the credibility of the builders in the form their past track record, financial strength and the ability to manage multiple projects and finish them within the stipulated time frame. More on this will be covered in subsequent chapter.
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