The need to acquire a living space has inadvertently been a factor that constantly drove the human race right from the times of the king’s rule and even before that. Somewhere along the line, acquiring a living space has been coupled with a sense of secureness for all of us. It is only normal that so many are willing to spend their hard-earned money on buying a residential place.
Nowadays buying a flat is more preferred than building an independent house because of the monetary benefits, saved time and energy, safety and facilities of living in a flat. It is much easier to purchase a flat than to build a new residential place from scratch.
More often than not, the main factor to be considered while buying a new flat is obviously the price involved. But, the smartest way out is to get the best value out of your new residential purchase. So, how do you get the best value out of the new flat you intend to purchase?
Do market research
Get to know the choices you have in the market. There are many builders and housing firms selling apartments and flats in Chennai, analyse the market and competition that is prevalent in the market.
The factors that you need to keep in mind while doing market research would be amenities and essential features that the builders offer along with the flat, the customer reviews involved in the previous sellings, the authenticity of the building firm, and obviously the cost involved.
This will give you an idea of the options that are available in the market for you and will help you get clarity on what exactly you would want out of buying an apartment.
Make a list of things that you are looking for in the flat that you are willing to buy and decide on the building firm that is willing to satiate your needs.
Analyse the value of the location
The location of the place you reside determines a lot so be mindful in choosing the location while buying a new apartment. Gone are the days when areas like Annanagar, Nungambakkam were the most sought after while buying a residential place. Although the places still hold great value, many other places are widely expanding with a wide array of facilities and opportunities.
Residential apartment in Porur, Tambaram, Sholinganallur, and many other places are doing well nowadays and are reasonably priced. With the development of many outskirts areas, the comfort in living and facilities are good as well. Analyse the location, and also calculate the value it would have in the future.
Check for resources in and around the flat.
The main thing you need to check for is the availability of the resources at the place you are planning to move into. Water scarcity is something that we are toiling with since quite some time and look for a place where you would ensure that there is at least a minimal access to water where the water scarcity season barges in.
Look for adequate lighting, exposure to sunlight and air circulation in the flat. These are primary and fundamental entities to ensure. Also, see if the apartment has attached facilities centres and access to parks, gyms, grocery shops and other wellness centres inside the apartment. Nowadays, most of the apartments are being built with amenities like this and look for a place with resources that would suit your needs.
Concentrate on the intricate details of the flat
While buying a flat, you need to ensure that you are getting all the features that the building firm advertised about. Check for the interiors in the flat like the shelf makeup, doors, and door handles, windows, sink set up, faucet and many more.
Check on which floor of the building you are buying the flat, given the need that you have elders and children at home.
Also, look out for the availability of the proper drainage connection, places to dispose of the garbage, access to laundry facilities and much more.
Look out for all the details and request for updating if need be.
Getting counselling from the resourceful people
Before deciding on moving ahead with purchasing the flat, get an unbiased opinion from resource person like the realtors, developers, landlord, civil lawyers, or friends who own a good deal of properties. Consider their opinions on the property you’re willing to buy.
Many times, you get valuable insights from the unexpected source, so be willing and open to taking opinions and insights about the property you are looking forward to buying.
Consider the facts and opinions and then analyse them as per your knowledge.
Check for authentication
While moving forward with the buying process, be very careful and eyes wide open.
Check for authentication in the paperwork. It is better to hire a resourceful person to check for the legitness of the paperwork before moving forward in buying the property.
You are also supposed to check for certificates of authenticity like the occupancy certificate, building infrastructure plan, encumbrance certificate, mutation certificate, contract of completion certificate as well.
Monetary plan
If all the above-mentioned factors are met along with the factors that you would have for the kind of flat that you are willing to buy, then the next obvious thing to be mindful of is to how do you plan on buying the property.
Whether it is a one-time payment, an equated monthly payment or you’re availing a loan at the bank, have a proper monetary idea on how you are planning to move about buying the property.
Buying the flat shouldn’t leave you broke for many years, so plan your payment and finances accordingly.
Go with your gut
With all that being said, it all boils down to one obvious question of whether you like the flat that you are buying. Although, it is important to consider many factors like the above, go with your gut instinct in purchasing the property, see if it satiates all the aspects of your dream home. That could help in itself to get the best value out of your new flat.
House is a place where you are going to spend a majority of the time, and most of the decisions you make are in some way going to be influenced by the place you reside so make sure you be mindful in buying a new flat and try your utmost to get the best value out of it.