Finding an apartment is always a tough and exhausting process. There exist many things which must be ensured before investing your savings in your dream property.
The whole process begins with searching for an apartment, then inspecting everything, and finally moving in. This is always a confusing process for all the new homebuyers out there. It is very much essential to know everything from the beginning.
Ultimately, you must be well aware of your finances. With thousands of options available in the market, it becomes the sole responsibility of the buyer to check every factor concerning a flat, so as to ensure the safety and everything that come along with that.
In order to make this whole process uncomplicated we have put together the major things to be kept in mind before buying a flat. They are as follows:
Fix a Budget
If one has a proper idea of how much they are going to spend for an apartment it makes it easier for them to shortlist a house.
Hence fixing a budget before looking for a house is the first step in buying a house. Find multiple properties and compare the prices according to your will based on the other details which are given below.
Choosing the Right Builder
With thousands of builders available in the market, it becomes very essential for a homebuyer to choose the right builder.
There exists a number of benefits when a property is selected by a reputed real estate developer. A reputed builder must be RERA registered (Real Estate Regulatory Authority). The credibility of the builder in the market must be good.
It ensures the quality of the construction and timely delivery of the home. A reputed builder must have a good track record of experience with a consistent success rate, their past performances must be checked.
Location
Select a property close to social and civic amenities. A property with easy access to schools, hospitals, IT parks, entertainment hubs, parks, commercial hubs, etc. will be of great use as this will help in many ways including effective time management.
A proper locality will also improve your quality and standard of living. Apart from these the property must have good connectivity to all the major parts of the city and there must be easy access to the public as well as a private transportation facility.
All the future proposed projects in the area must be considered while choosing the locality.
Chain of Document
Before buying a property at any place, it is essential to ensure that all the documents are in order. The paperwork must be accurate and honest or else there is no point in buying the property as it can lead to many issues which can even end up in losing it or spending years in court to prove the ownership.
The major documents which must be checked are primary title documents which show the history of the property being sold and the owner of the document.
Then there are secondary documents that provide other information, it includes the sale deed, allotment letter, gift deed, partition deed, the building plan sanction issued, Encumbrance Certificate, tax paid receipts, etc.
Construction Approval
The construction must be approved by the Government of India. Any building done without government approval may be reclaimed by the government or condemned to demolition.
Hence it must be verified that the builder has obtained the necessary approval documents.
Occupancy Certificate
The occupancy Certificate is an important document, just like the construction approval document.
The local governing body issues the certificate of occupancy, which certifies that the specific building complies with the regulations and is fit for occupancy. The local municipal government gives it.
Fire Department Approval
A flat must be approved by the fire department. If the property has 25-plus floors it needs many approvals and requirements from the same department.
Financing Banks
Banks must be willing or not willing to finance certain builders and properties due to many reasons which include bad reputation also.
So, it is very important that you check with the banks that are willing to fund the project you are planning to invest in. Prestige Park Grove is the best investment you can make in the real estate business in the Whitefield area.
Apart from all these above-mentioned factors there exists many other things including privacy and security concerns, Parking check double parking and guest parking facility, Electricity, Power backup and solar electricity, Proper water treatment, Rental returns, Number of lifts and staircases, etc.
