Important aspects to know while buying a flat in India
Buying a flat is a dream come true and at the same time a very big decision. This is because it is probably the major investment that you make in your life. While there are many flats for sale in India, buying the best is a decision that you have to make very carefully. The factors that make a flat best would differ from person to person. Still, there are some important aspects that you ought to know before you invest in a flat in India.
Things to know before buying a flat in India
Here is a list of things that you should know about before you make a decision of buying flats for sale in India.
Budget: Your budget is perhaps the most important factor that will determine the type of flat you need to buy. Things like the locality, number of bedrooms, etc. would depend on your budget. Moreover, knowing your budget would make your search easier. To decide your budget, you have to first calculate your salary, the ongoing debts and the loan amount you are likely to receive. Set your budget after checking out your priorities.
Location: Location is another factor that you have to determine while buying a house. Select a few areas that would match your budget and which promises to provide value for your money. Start by researching about the areas you have selected. Check the sales that occurred recently in that area. Also, invest time in looking at flats in this area. This would give you an idea about your options. Do not make a decision just by looking at one or two flats.
Facilities: It is best to buy a flat in a society that possesses various facilities. These facilities can be anything from basic to luxury. Basic facilities that you ought to have are continuous water supply, security, power supply, etc. If you have a car, you need to check whether you get a parking area along with the flat or whether you have to pay extra for it. Check whether hospitals, schools, colleges, grocery stores, etc. are close by. Having these facilities would ensure that you get good resale value in the future.
Builder’s reputation: There are many flats for sale in India but not all are worth investing. If you want to receive value for your money, you have to invest in a flat by a good builder. Hence, you have to do a thorough research and background check about the builder. Take a look at the flats that they have constructed earlier and whether they have completed these projects on time. A good builder would be willing to share all the details about their previous projects.
Legal documents: It is extremely crucial that the owner of the flat you want to buy possesses all the legal documents. Check whether he/she has ownership documents, approved layout plan, etc. You should also check whether the person has taken any loan against the flat and also about the repayment plans. You should get these documents checked by the lawyer to know about its authenticity.
These are the things that you ought to know before buying a flat in India. As this is a major investment, it is important to check all these aspects carefully before taking the decision.