Buying an apartment is considered to be a safe and rewarding investment nowadays. Most people prefer to buy apartments considering various factors like safety, ease of maintenance, low investment cost, etc.
Even though buying a new home can be an exciting phase in life, the process of finding the perfect property that suits your preferences and budget can be quite challenging. With so many real-estate companies offering apartments in every part of the city, chances are that you will be spoilt for choice.
So to zero in on a good property, you need to consider a few important aspects of home buying. Here are a few tips to help you buy a new apartment in 2020.
Decide your budget
Money is the first and foremost factor you must consider once you have decided to buy a property. Without good financial planning your property investment is likely to get you into trouble.
Perform a thorough analysis of your current financial status to determine the budget you can afford for a new apartment. If you are planning to take a home loan, then consult your bank to check your eligibility for getting a loan approved.
Thankfully, now there are plenty of options for you to choose from as you can find both low-budget apartments and high-end luxury apartments for sale in Kerala.
Choose a location
Location is another crucial factor that determines the worth of a property. Apartments which are located near shopping centers, highways, schools, hospitals, and IT parks will have high demand and good appreciation value. For instance, if you are looking for flats in Trivandrum, Akkulam, Kumarapuram, etc are amazing locations.
Whether you are buying the apartment for staying in it or for renting it out, you must check for good connectivity. If you are buying an apartment which is on the outskirts with poor transport facilities, you may end up paying more cost for taxi and fuel.
Also, ensure that the flat that you are choosing is located in a safe residential locality. Choosing a healthy and unpolluted living environment for your family is of utmost importance. Many of the apartment projects are now coming up with eco-friendly designs providing ample open spaces and greenery.
Analyse the market
While you are searching for a new apartment in Kerala, you need to have a clear understanding of the real estate market in the state. With the introduction of the RERA Act and other revisions in the building norms, both builders and buyers must have good knowledge about the prevailing market trends.
This year we can expect to see better growth in the real estate sector owing to the rapid economic and infrastructural developments in the state.
Technology has advanced and now the process of purchasing a home is no tough ordeal. Most of the information regarding new apartments is now available online for your reference. You can even do a price comparison of various apartment projects in your preferred locality.
The reputation of the builder
While searching for a new apartment or a flat, make a list of properties that caught your attention. Then conduct a complete background study about the concerned builders to find more about their track record and reliability.
You can analyse the builder’s history by referring to their websites, social media pages or by listening to customer testimonials. A reputed builder will always maintain transparency in all the transactions and will be ready to produce all legal documents for your review.
Choosing an experienced builder who has proven expertise and knowledge in the field of real estate will promise you a seamless home buying experience without any legal hassles.
Status of the project
Once you have identified a good builder you may think about whether you should invest in ongoing projects or ready-to-move-in apartments. It depends on your purpose of buying the property and the budget of the flat.
Ongoing apartment projects will be priced lower when compared to ready-to-occupy apartments. If you are ready to wait for a few months for the apartment hand-over, you can always choose an under-construction apartment home. This way you can even book a spacious apartment for a much affordable price.
But if you want to move-in to the new home immediately you can buy a ready-to-occupy flat in your preferred city. Another advantage of a ready-to-move-in property is that you can directly visit the project site and examine the property that you are going to invest in.
Necessary amenities
Most of the modern apartments offer several in-house amenities like a swimming pool, gymnasium, children’s park, party hall, games room, etc. These gated communities also provide a much higher level of security as compared to individual houses.
The apartments will be under CCTV surveillance and security guards will be available round-the-clock. So while inspecting a new apartment home, check for the desired range of amenities offered by the project. Some builders also provide on-call maintenance and house-keeping service to the residents.
These are some of the benefits that you can enjoy if you are buying an apartment home. By keeping these tips handy, you can make an informed decision while buying a new apartment in 2020. We wish you all success in finding your dream home.
Author Bio
Sreekanth Unnithan is a digital marketing expert at Webdura Technology. He enjoys experimenting with new techniques in both print and the web. He also loves to explore roads less traveled. Reach him at his email. He also helps people who are looking for flats in Trivandrum and other parts of the country.
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