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7 points to remember when buying a house in India ?

Posted by admin on February 25, 2017
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Is this home right for me – House buying tips for young couples in Indian cities

Buying a house is one of the biggest financial decisions that one can take in one’s lifetime. All of us want this decision to be the right one since a house is also a home for our family – a source of joy, comfort, safety and well-being.

Once the decision of buying a house has been made, after taking into consideration the financial aspect – there are a number of points to be considered:

How long would you be staying in this house? – Though it is difficult to predict the future, if you see yourself staying in the new house for at least the next 10 years, then consider what the future could be like. Kids, owning pets, parents moving in with you – all these are probable future events and additional rooms or space would be required accordingly. While having the sufficient number of rooms and space is important, it is also vital that you do not buy a property that is too large for you, since maintaining a large house could prove to be a challenge.

Background of the builders of the property – Check if the builders of the property that you are considering buying are reputed ones. Visit past projects built by these builders and note the state of these properties. Do the projects look good even after several years of construction or do these projects have a run-down appearance? Speak to residents of these properties to understand if there are any issues that they have faced with the builders over time.

Locality of the property – Choice of location depends on individual preferences. Would you like to purchase an apartment within the city or stay in a villa away from the noise and chaos? If the choice is to stay in a villa in the outskirts of the city, does the locality have good connectivity with the city and good quality infrastructure?

Proximity to schools, hospitals and shops – Staying in a locality that is far away from shops, good schools and dependable hospitals might not work for all – since these are amenities that we need to access almost on a daily basis. Check if the property has water and electricity connection.

Maintenance amount to be paid – Consider the maintenance amount to be paid every month after moving into the property. Moving into an apartment that has a large number of amenities like swimming pool, gymnasium and clubhouse might seem like an attractive option – however it also means that these are amenities that need regular upkeep, for which you must be ready to pay the maintenance fees, whether you choose to use these amenities or not.

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Number of parking spaces – Most builders, by default, offer parking space for 1 car, at an extra cost. However, with most families now owning 2 or more cars, check if an additional parking space would be available in the future without any issues.

Issuance of all necessary certificates – For all new constructions, developers have to seek clearance from the local authorities. When the building is ready, the local authority awards a completion certificate stating that the approved plan has been followed. This is a must for getting basic amenities such as water and power. The home owners also need an occupancy certificate, which is awarded after authorities check that the rules for fire safety, elevators, electrical wiring and waste disposal have been followed.

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