Things to consider besides Location and Amenities when Buying an Apartment
Post by : favouritehomes
The process of buying an apartment is exhilarating and full of surprises; you get to learn so much along the process of apartment-hunting, with some lessons letting you know that you really need to do some in-depth homework before putting down your hard-earned money.
Though you are told that location matters a lot and builders try to seduce you with a wide plethora of amenities, do understand that there are numerous other features that are equally important to check when home-buying. Here is a list of some of these factors:
When narrowing down on your apartment option, check that the master property plans are legally approved, with no deviations. Don’t stop there as you also need to see the NOC from neighboring properties and the municipal corporation; aside from this, scrutinize the environmental clearance certificate, the commencement certificate, and the completion certificate. You will need to see the title deed document which will let you know if there is any litigation on the said property and whether the builder actually owns the plot or just has building rights on it. Also, do ensure that the floor you are buying is part of the master plan otherwise, your home stands the risk of getting demolished.
Do a little research on the previous projects the builder has handled to get a better understanding on how your builder operates, as some are con masters! Talk to other home-owners in the building if some apartments are already occupied.
Ask for a breakdown of the super built-up area, built-up area and the carpet area of the apartment to know exactly how much space you are going to get at the end of the day. Usually, the rate per sq ft is based on the super built-up area.
Before going house-hunting, get an idea of how much you will be able to invest and this should be inclusive of the cost of the apartment as well as other add-on costs that go with it; they could be for registration, change of ownership, stamp duty, etc. Other charges could be for club membership, parking space, electrification, water supply, floor rise, etc.
Another factor to scrutinize is the security system in place; after all, you don’t want to spend sleepless nights worrying about your family’s well-being while you are away!
Once you have checked all these factors along with the apartment’s resale value, you are almost done!