Chennai is a place that many want to invest in. This metropolitan city is booming with real estate and now everyone wants a piece of land or a block of home for themselves in this city. Buying a house in Chennai is not an easy task. Yes, it might be easier if you find the right builder but buying it within a budget is no piece of cake. High real estate prices and new government rules on real estate are some of the reasons why it is a bit challenging to buy a new home in Chennai within a budget. While it is not all thorny bushes, there are certain things that you can keep in mind before buying a home in Chennai in the budget. There are many flats for sale in Chennai. These tips will make your buying experience better and easier.
A Complete Guide to Buying Flats in Chennai
- Set your budget – The primary step in buying a home on a budget is to set it. Yes. Though it sounds as simple and as silly it can be, many often deviate from addressing this point initially itself. A budget will help you narrow down on various aspects related to buying a home. List down your savings and see what is the best fit you can have.
- Affordable areas – The first and foremost thing to consider before buying a home is to know the kind of area you want to reside in. While it is fair to understand that you might want the house to be in a prime location having good proximity to schools, shops, and so on, it is also important to understand your budget. This is where the first step comes to the rescue. Setting the budget can help you deep-dive better. While there are many posh places in Chennai, there are also places where you can find extremely affordable homes in Chennai. These can be in the close outskirts or in places that are sparsely populated. Find areas that can help you find homes within your budget. For example, you can look for budget flats for sale in Porur, or some other place to be specific.
- Buying a new home vs buying a resale home – Next is to decide what do you want to buy. Do you really want to buy a brand new house or are you looking for a resale house? New homes cost way more than resale homes. However, if you are looking for a new house and it falls within your budget it is advisable to go for one. Otherwise, you can always buy a resale home and spend a little money on it to renovate the space as per your choice. Either way, you can always find a way to make it as per your taste in your budget. This is one of the pro tips to buy a flat within a budget in Chennai.
- Specs of a house – What do you want in your new house? Should it be 1 BHK, 2 BHK, 3BHK, or more? Are you looking for an independent house or an apartment? Do you want facilities like a play area, that comes in a township or a residential apartment? These are some of the very important questions you should be asking yourself before buying a new house. These will help you buy the right kind of house in Chennai within your budget. Many budget flats for sale in Chennai come with various amenities like these. Based on how much you have spent aside for buying a home, you can see what suits you the best.
- Miscellaneous Costs – One major thing to remember while searching for budget flats for sale in Chennai is that you should be considering other additional expenses like maintenance cost or broker cost. While these can be just simple things they add-up and matter a lot when it comes to deciding the final cost of buying a house.
What to look for in a home and the neighborhood?
While there are numerous flats for sale in Chennai, what matters the most while buying them is to understand where the house is located and the kind of neighborhood it has. What are some of the major things to look for in a home when you buy it? Well, firstly, it is important to see the space. Each square foot counts. So when you buy, check out the space that the house is constructed in.
Secondly, see if the house has good ventilation. This is something that many homes lack these days. Find a house that has enough ventilation and has provision for sunlight to get inside the house in the mornings and the evenings. This is also important to consider for a healthy lifestyle. Another major thing that you can look for in a house is to see if it is fully-furnished or semi-furnished.
Based on what your budget is, buy the one that fits your budget. When it comes to a neighborhood, there are many things to look into. Firstly, check for the proximity of the house to various places like a bus stop or a train station or some grocery store, etc. This is good to consider because not all the time will you be able to run behind such things in case of emergency.
Secondly, check the feel of the locality. While there are many places in Chennai that are congested and are always damp and cluttered, there are so many other places too that are wide and open and that give out some positive vibes.
The Builder And The Right Pricing
Buy only from a reputed and trusted builder. There are plenty of real estate agents in Chennai. But what has to be understood is that good thing come only from those at best in it. Enquire well about the builder you are planning to approach. Speak to their past customers if that may help. Also always be aware of the market trends and behavior on the pricing in the real estate market. Being wary of the current trends can help you find a good house at the right price.