Things to Consider Before Buying a Flat

Before-Buying-flat

With the rise in population, there is a rise in the prices of property. This has led to exorbitant prices of properties lately. With high prices of lands, there is a shift of interest towards flats that are easily available on home loans. With that being the case, most sought after destinations belong to the National Capital Region given to the connectivity and urbanization of these areas. Noida, in the past few years has been transformed to a great extent and this organized city attracts many potential buyers. Noida has seen a lot of housing projects at affordable rates. An average middle class looks for a decent abode in a good enough location at affordable prices and that’s exactly what flats in Noida from reputed builders like Unitech have to offer.
 
Let us skim through a checklist of things you must keep in mind before investing.
 
1.    Know the Builder:
With the rise of apartment culture, there are a lot of builders who have emerged. So many being in the market, it’s no surprise that scams are prevalent in the real estate industry. So many people invest and end up getting nothing or just delayed dates. It is important to do a little research on the reputation of the builder. Opting for premium brands ensure that you will get your apartment at any situation. The prices may differ but assurance is worth the price.
 
2.    Be picky:
Settling for whatever you get in the lowest possible price is not how your flat buying plan should look like. Your prime focus should be the location. Better location means more return on investment. Be it for investment purposes or for living, a better location will result in far more satisfaction than an average one. Living needs an inhabitable location and investment needs to be highly worthy of increase in value. Connectivity is a major factor while evaluating the worth of a location. Also, keep in consideration future projects (like metro or bus stands) that are approved near the location you are eyeing on. Such projects tend to elevate the value of the land and apartments in high proportions. Not just location, your flat must be equipped with better amenities because more the facilities, more the value and better it is for inhabitation. Apart from that, another factor you should look for is the size of your apartment. Research well about the units of measurement and know the difference between carpet area and total size of your apartment.
 
3.    Check loan options:
Ideally this should be your first step. If you are looking to buy flats in Noida, or anywhere for that matter, it is mandatory to check the available loan options and interest rates. If you are going with reputed builders, chances are that you will get loans from any of the reputed banks. Before jumping on the decision, research well about the EMI options and see how much you would be able to afford every month as EMI.
 
4.    Know what you need:
Every project lures you into a lot of added amenities. The parking space is something you would always need. However paying extra for a park facing apartment is something you might choose to skip if it exceeds your budget. Enquire about the things you will have to pay an extra amount for and choose what you need and what you do not.

Before investing your money, you must know everything about the flat you are buying. The kind of tiles to be used, the flooring, the ceiling and every aspect of construction can be enquired about. To buy a property, you must be an informed buyer who knows all his/her rights.
 
The views presented in this article belong to the author, and do not necessarily reflect the opinions of You & I.