If you are looking to invest in a property, the majority of the buyers think of putting their cash in an apartment. It is important to make sure whether it is right to invest in a plot or an apartment.
Q. How do you select the appropriate kind of property?
According to the selected budget, one can plan the sort of property. If you are working as an end-user, the family’s size with the right budget with budget can be a formative factor while selecting the sort of house you require. There is a special choice available now in the market in different housing designs from 1, 2, 3 and 4BHK apartments, builder floors, studios, villas, and row houses, and sovereign houses. The project of the multi-story and township with all services in single project clubhouse, meditation center, swimming pool, health clubs, schools, cinemas, departmental stores, sports services, and banquet/party halls are what most end-users are searching at now.
Q. What do you mean by the property valuation?
Property valuation just implies means arriving at the real existing cost of the possessions. It could vary upon different parameters, property location being the significant one. One requires considering other parameters which include property age, projects offered services available, and the sizes offered in the project. The advanced transaction cost of a parallel property is required to be known as arrive at the closest value of the given possessions.
Q. Is Customization is possible with the property?
Buying a plot of land provides one the liberty of the shape, mold, and construction of a structure as per the personal preference and special needs. On the other hand, an apartment is a predesigned construction, to match a specific set of needs of the people. However, there is restricted scope for personalization according to the needs of the buyers.
Q. How much loan for a house is possible to get?
The housing loan will be approved according to the ability of the repayment as per the salary. The income of the spouses can be added if you wish to add the loan amount. The outmost loan that can be approved differs with the housing finance companies and starts from Rs.10 lakh to Rs. 50 Lakhs.
Q. Is it better to rent a home or should I purchase it?
There is no spoil in renting possessions till you are prepared with sufficient finances to purchase. If you discover a place where you wish to continue and can handle to get sufficient recognized finance, searching at buying as the monthly loss will guide you to creating an asset. However, you should make sure the EMI is not more than 35-40% of the monthly salary.
Q. What is the main difference between the middle of the multi-story apartment and builder floor apartment?
A single floor apartment is referred to as a piece of land, which are sometimes old plots that are available for the redevelopment construct flats on every floor as per the permissible Floor Area Ratio (FAR) and building bye-laws. They sell them as single units within the same structure. The land belongs equally to the purchase of single floors. As there are small units available than in a multi-story apartment, these require economies of scale and so have some common services which include back maintenance and back-ups compared to better multi-story apartments. However, these are newer apartment units available in the downtown or selected areas and available at a low cost as compared to the multi-story units.