Purchasing a home is arguably one of the biggest decisions a person will ever make. People invest their hard-earned money and life savings into purchasing real estate, so they want to take every care to ensure they won't come to regret their choice.
To make an informed choice, one needs to have a list of items to think about before buying a house in India. To keep things simple, this article has taken into account the situation where buyers are looking to purchase a home (apartment or flat) in a residential project that is currently being constructed by a developer.
Things to consider before buying a house in India
- RERA Registration
Each state has a body in place to control real estate projects called the Real Estate Regulatory Authority. One must confirm whether the project in question is RERA-registered. Additionally, just because a project is RERA registered doesn't mean there aren't any problems with it. The project's registration with the authorities is simply evidence that the developer has done so, and buyers should contact RERA if they have any problems.
- Reputation of the Developer
The reputation of the builder or developer who will be responsible for creating this property is one of the most important factors to take into account when purchasing a home in India. This is particularly crucial if you are purchasing a house that is still being built, as you need to be certain that the developer will provide you with a high-quality product within the allotted period. To determine whether the builder has completed previous projects on schedule, you must look into his historical performance.
- Customer Service Quality
A house purchase is not a transaction that is finished in a few days. When you reserve a property with a developer, you are committed to working with him until the project is completed and even after the handover. As a result, you must consider the level of customer service the developer offers both during the sale and after the handover.
- Ratio of Constructed Space v/s Open Space
You should assess how many available spots the project has before committing to it. Issues like overcrowding in the amenities or parking and traffic problems result from too many buildings or too tall buildings and not enough open space. Therefore, it is crucial to determine whether the project's open spaces are adequate to support the number of residents who will eventually use the property.
- Number Of Units Per Floor
Have you thought about how many apartments or units there are on each floor? How important is it to you? It is important because having too many apartments on one floor raises issues with privacy, use of the elevators, etc. These days, you can find developments with as many as 16 apartments per level. You won't have to give up your privacy if there are no shared walls or the flats are not too near to one another.
- Number Of Units In The Project
You should also think about how many units will be in the total project after it is finished before purchasing a home or apartment. Others choose to live in vast townships where they may be a part of a large community, while some individuals prefer to live in small societies with few apartments that give them a sense of seclusion.
- Efficiency Of The Layout
Have you examined the flat layout's effectiveness? When a layout is efficient, you get the most usable space for the money you spend on a particular piece of property. Consider "A & B," two apartments. Despite having a smaller area (700 sq ft), flat A has larger rooms than flat B, which has a smaller area (850 sq ft). This occurs because the terraces and interior passages of the apartment waste a lot of space. In the end, you pay more for an apartment with fewer amenities. This brings us to the end of our list of "Factors to think about Before Buying a Flat in India." This list will help readers understand the house purchase process a little better and aid in their decision-making.