Ready to buy a home? Here are 5 factors to consider before buying a flat in Pune.
Investing in a new apartment is one of the most important decisions you’ll ever make. Before buying a property, it is important to analyze it from different points of view. After all, no one invests in real estate every other day. Some of the most important factors to consider when buying a new apartment or house are location, price, and ownership.
A wise and thoughtful decision will make your life easier, calmer and happier. This post is applicable to any metropolitan cities in India, such as Hyderabad, Chennai, Mumbai, Bangalore or Kochi. Here is a comprehensive checklist that you can go through before investing your hard earned money in an apartment, store or office.
Factors to consider before buying a flat in Pune
The location of the house is of great importance. To find a good location, it is best to assess your family’s needs for at least the next 20 years. Check out for good schools and colleges and hospitals in the area and connectivity to them. Also, do not neglect the need for a shopping mall or supermarket. One does not always want shopping trips to feel like long journeys. In addition, the presence of excellent medical facilities and public services such as parks, metro stations, etc. increases the value of the property. Pune has several areas with excellent transport links where you can find everything you need.
Also read:- Best area to live in Pune
The first step in selecting an apartment is to finalize the budget. It is easier to choose an apartment if you know how much you are willing to spend on it. Compare the price of the property in question with prices from different developers to make sure that the developer actually offered you the best price. There are many ways to compare properties in your area of interest. Such sources are lists of portals, local brokers or lists of newspapers.
Access and connectivity:-
Take a test drive from the project to your office or workplace and measure the time required. If by train, check how long it takes to get to the station and whether there is transport to and from the station. Before buying a flat in Pune check for upcoming infrastructure projects will improve the connectivity to the project.
Think about when you would like to take possession of an apartment. An under construction property can be cheaper than a property that is ready to move in. It also allow you to pay only a temporary EMI while the project is under construction instead of a full EMI.
The safety of neighbors and relatives is an aspect that should not be overlooked when planning a move. If you are planning to buy a home in a metropolitan area, simply check the security systems such as the number of security guards on duty, the presence of an intercom, registration of visitors and their vehicles, etc. Consider these points carefully before investing in real estate.
Legal Check of Property:-
Make sure the property is approved for construction where it is located. The client must have approvals and NOCs from the district development authorities, the water and sewer department, the electricity supply department and the Municipal Corporation. However, if you are taking out a mortgage loan, the relevant bank will check your property documents before approving the loan.
Hidden and Additional Charges:-
Be sure to read carefully all the points in the documents and understand the provisions of the sanctions. The developer is obliged to pay you a monthly fine if you do not take over the apartment within the deferral period. Additional costs such as stamp duty, GST, mortgage processing fees, registration fees and all other fees must also be taken into account.
When you feel you are ready to become a homeowner, it is important to point out the most important things to consider when buying a flat in Pune. There are several factors to consider, such as your preparation, local market conditions and making sure you know these factors before buying an apartment.