The festive season is here and the housing industry is answering the demand of the people, have a look at the important checklist that can assist in following the right decision.
Interested investor buyers sometimes look for expert views. Using a personal perspective is important as every buyer has a special factor that helps guide the decision. However, many things are recommended to the buyer to consider before making the decision. Well, the season of the festivals is here and the housing industry is here to call upon the demands, it is a good time to understand the key points.
Have a look at three important points that can help you in making the right decision:
- Despite what advisors, builders, and brokers may constantly claim, it is not an easy task to buy a home. Just the salesperson can do it easily.
- Don’t invest in real estate just considering it as a big investment. For some people, it can be a big disaster by and will in all surely stay the same in the forthcoming period.
- If you have a good financial stand, you can buy a ready-to-move apartment.
On the other hand, the home aspirants who don’t have sufficient resources to make the right shopping and instead choose a staggered payment plan—always the alternative selected by the majority of the under-construction plans— here is where the due industry turns quite essential.
Have a look at important parameters that should be considered while checking out a project. It is not perfect but may assist homebuyers to appreciate where they are spending their hard-earned money.
1) Developer
When you look into an under-construction project there is nothing physical that can be observed physically. It is essential to check the track record of the developer. Therefore, it is compulsory to visit many other projects that were previously completed by the developer. Under the perfect condition, the consciousness of the financial situation might be quite helpful in interpreting the developer’s ability to complete a project. Unluckily, the majority of the developers are unlisted. And surely, there is some reason behind it.
2) Size of the Carpet
The carpet area is one and most important point of discussion with the developer. Many of them still have their chat with terms such as residential and easy built-up. Never entertain it. It is essential to consider that the “carpet area” showed by RERA which includes things like the space engaged by internal walls. Therefore, the usable carpet area for a customer sometimes less than 3-6 percent lowers as compared to the RERA carpet space.
3) Date of Possession
Every developer gives a completion date of the products to their clients. In different cases, the date of possession shared with the customer is about two or three years earlier than shared with Real Estate Regulatory Authority, Eg. The expected delivery date for a customer is December 2021 which varies from RERA which is December 2023. The prime reason is to keep things positive for you. It is a good deal used by the developers but customers in their mind must work just with the possess date shared with RERA. The date should be considered a bonus.
4) Stage
It is important to understand which stage the project is going through. A buyer should avoid buying at an early stage of the project. Possibly, you find it lucrative as developers try to scrape in as much capital from customer bookings and advances but the real estate history across India is refused with things of bumper introduces that afterward go nowhere.
5) Maintenance bill
The project gives lots of services sometimes asks for high maintenance amount. Therefore, you should consider the maintenance bill required to pay on a monthly or yearly basis. This cost differs according to the location and services offered.
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