The search of dream house starts from searching for the right one. However, with an information overload all across, it is often a confusing & challenging work. There are certain points if carefully adhered to can simplify the overall process and make your overall property search an interesting exercise, leading you to your dream home.
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 at disposal, but it also aids 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 does not fall within threshold of affordability will result into unwanted search & waste of time. It will also set the initial expectations very high, which would be very difficult to pull down afterwards.
The next crucial point in an effective home search exercise to search the right location. A location that is conveniently placed with office & school and saves time in commuting. Likewise, it is essential that location should have ample social amenities, good schools, colleges, malls & hospitals that can ensure a better quality of life.
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 point to be noted 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.
Image Source: Sobha
