It is a dream for almost everyone in the modern world to own a home. Fast-paced lifestyles and the potential convenience offered by community living conditions have made buying apartments the hottest choice among today’s urban dwellers. With several facilities and amenities, apartments make the perfect residence as well as property investment in the contemporary world. Free from the hassles of personal involvement in the maintenance of separate homes, apartments offer the homebuyer a world of benefits.
But when it comes to buying your apartment, it is imperative that you consider certain crucial factors. It pays off to keep a checklist of such factors and check out every point before finalizing your deal.
10 factors that homebuyers need to consider before sealing the apartment deal
#1. Location is a top priority
The top-most priority while buying your home is undeniably its location. While you can possibly change anything and everything else, you will never be able to change the location of your home. Perhaps you can live with minor setbacks in a home if you are attracted to the neighbourhood and love your neighbours. But there’s no way of changing the location when it comes to your home.
It is imperative that at the time of choosing your apartment, you consider several aspects such as the charm of the neighbourhood, the proximity of the apartment to your workplace, ease of access, traffic conditions, and noise from the surroundings. New flats for sale in Chennai are usually centrally located when it comes to major amenities. Access to shopping, educational institutions, health care facilities, and public transportation needs to be carefully considered while house-hunting.
#2. The neighbourhood of your home is significant
Not just the house, the entire neighbourhood must meet your expectations and satisfy your individual and family requirements. After all, you and your family members are about to spend most of your lifetime in the neighbourhood, and it goes without saying that you have to select it keeping the collective well-being of your family.
Check for the views you can get, and if the area is generally kept clean and tidy. The safety of the neighbourhood, the possibility of children playing around in the yards – things like these are important in the long run.
#3. The site of your apartment complex
In addition to location, you need to observe the site of your potential home. Is your home in direct view from the neighbour’s window, or is the site on a hill? The availability of yards for gardening, pets, games, or other purposes, and the overall security of the property are of paramount importance. Other factors of equal importance are the driveway elevation and stairwell plans.
#4. Structure and layout of the apartment
The layout of the apartment and the structural integrity of the entire building play a critical role in the selection of a flat. If it is a ready-to-move-in flat, you need to conduct a personal inspection of the unit. Look for tell-tale signs of defect such as cracking, broken sealants or any other indicators. Check what the walls and floors of the building are made of and try to understand the capability of the condominium to insulate noise. Most people go for 2BHK flats for sale in Chennai, as per their convenience.
#5. Security is of paramount importance
Unlike an isolated house, apartment blocks will naturally have a lot of people moving about. Not just the residents, their relatives and visitors will keep coming in and going out of the apartment complex. In the modern world fraught with unexpected risks, it is obviously a primary requirement to have reliable security facilities.
In addition to patrolling guards, you must ensure that a fool-proof system of modern security facilities – such as security cameras, biometric access for entry, and electronic devices to monitor and allow people in. This is one of the features that you cannot compromise on while choosing your residence.
#6. Amenities and facilities in the apartment block
Whether budget type or luxury, modern apartments are almost always presented with specific amenities and features based on their pricing. Some of the commonly available amenities today are swimming pools, sports and games centres, community rooms, children’s areas, laundry rooms, fitness centre, business centre, and storage facilities. People of all ages in the modern generation wish to have such comforts and facilities, making it essential to have an amenities list while looking for a home. Nowadays even budget flats in Chennai come with a vast array of amenities.
#7. Social facilities in the vicinity
Every homebuyer will have their own unique preferences and expectations, but certain social amenities cannot be compromised on, wherever you establish your home. Social facilities such as hospitals, schools, markets, and parks are important factors that facilitate quality living. You must ensure that the apartment is located in an area where these are easily reachable.
#8. Administrative and social costs
As a homeowner, you will be liable to bear a part of the maintenance cost of your apartment complex or society. The security guards, cleaning staff, and repairs need to be paid for. Even during or before allotment of your flat, you are required to pay a security deposit amount for meeting such expenses. This roughly amounts to 10-15% over the basic price of the apartment at times. It is a crucial matter that needs to be considered while you are in the process of picking your apartment. Budget flats in Chennai are known to be hassle-free in terms of costs.
#9. Verification of legal documents
There is a long list of crucial legal paperwork that you need to check before making up your mind on the apartment purchase. In addition to thoroughly verifying the title and ownership of the seller, you must check the other important documents as well. These include the identity of the seller, construction approvals, land use permissions, tax payment status, encumbrance, and other relevant certificates and licenses. You must thoroughly ensure that there is no legal issue in connection with the property.
#10. Possibility of financial assistance from banks
It is necessary to check the possibility of getting financial assistance from banks. Banks blacklist certain builders because of malpractice and a bad reputation. It is important that you check with banks and ensure that they are indeed funding the project that you plan to invest in.
Buying an apartment is not only everyone’s dream but also an endeavour that demands utmost caution and diligence. By carefully considering the above-discussed points, you may close the best deal on your dream home and lead a peaceful life.