Home Buying Guide – Part 08: Finding the Right Home
You should start the process of finding the right home thoroughly once you have zeroed in on the area you want to live. Before you start the process of finalising the right home, you need to zero in on potential homes you are interested in.
Decide On A Type Of Home
The type of home that a person prefers should be based on his clearly defined priorities. You should have a clear understanding of your wish list before making the final buying decisions. When determining about the type of home, a person should consider the lifestyle that he or she lives, and future needs of the family. Home types include Apartments, Bungalows, Mansions, Skyscrapers, Single-family homes, Semi-detached homes, Duplex homes, or even Condominiums/condos.
You should also decide between buying a new home or an old home. With a new home, you can decorate it the way you want and can alter the colour scheme and styles easily. You can choose the flooring, wall paint colours, kitchen and bathroom cupboards, counter-tops and a variety of other options. A new home offers you the ability to define the atmosphere of your home.
Amenities, Features & Specifications
Generally, most of the builders provide a host of features and specifications to allure potential buyers. In fact, features are the building facilities whereas specifications are related to facilities and amenities provided in the flat.
Be absolutely clear about the space you desire in your abode, size of the kitchen, number of closets and cabinet space in your home. Some buyers might think to put up in a house with appealing interiors and the classiest showers in a huge and lavish bathroom while for some a modular kitchen will be pacifying. Make a list of your expectations that you’ll need from your home such as the layout, livable space, flooring, number of bedrooms and bathrooms, kitchen amenities, storage etc.
You should check what kind of amenities are being offered by the developers along with the flat. Things like clubhouse, parking, lift, power backup, swimming pool, gym are some of the amenities that you certainly do not want to miss in your life. In modern day apartments, you can have an ample parking space for your vehicle and big parks for your children. You can have these facilities in your home depending on the price you can afford to pay.
Fixtures are attached permanently to the property including lights, faucets, and other built-in apparatuses.
Design And Layout
Buyer should get to know about contractor and architect of the building in order to assess the quality of work. Air and sunlight are essential for your life. These factors will determine your living experience on daily basis. So, ensure that your flat has ample natural light and proper air. You should also look at the side of the terrace or faces of the balcony and the view outside.
Construction Quality
Check the construction quality of the home when you go to look at it. You should check the walls, their overall look and the finishing done. Ensure that the premium quality of the paints has been used which will not come out from the wall very soon. Also, check the wiring, fitting, tiles quality etc. However, in an under-construction project, you can search on internet about the builder and its past project experiences.
Check The Credibility Of The Builder
Before purchasing a property you should look into the credibility of the builder as the reliability of him is paramount. The buyer should inquire about the reputation and record of the builder and the quality factor associated with his past projects before committing to buy the property.
This essentially means checking on the developer’s past works, their compliance with the buyer’s agreement, providing the amenities mentioned, quality of construction, etc. The number of projects delivered by the builder and the time taken for delivery should be considered. Besides, you should check project’s legality, land title, the status of layout plan and other NOCs.
Learn About The Property
Ask the neighbours and tell them that you are thinking of buying the house next to them. You need to visit as many properties as possible and make sure you check out all the necessary things. You should ensure the specifications which are spelled out when the project is launched and marketed, are adhered to. One should supervise the progress through frequent visits to the site if it is an under-construction project.
Area Calculations
There are three types of areas which are used to measure the space of any residential apartment. These are Carpet area, Built-up area, and the Super built-up area. Carpet area includes the area within four walls of the flat. Built-up area includes carpet area and the area occupied by walls of flat. Lastly, the super built-up area which includes carpet area, built-up area and proportionate of common areas of the building complex. Earlier, builders used to charge on the basis of super built-up or built-up area but after the implementation of RERA, a builder can charge only on the basis of carpet area. So, a consumer must understand the calculation before entering into the sale agreement or contract with the seller.
Resale Potential
No one knows when you would be packing your bags again to move to some different location because of various reasons. So, you should think about the resale potential of property you buy. For example, you should avoid buying a property which has a common parking, because you may have problems in future at the time of selling, as the next buyers might want a dedicated covered parking from you.
Plan For The Long Term
Most people want to live in their homes for many years. If you don’t buy a home that is future-proofed, you can end up having to move more frequently, which can be very expensive. So, make sure to buy a home you will like to grow into.
You may need more space in future if your family is expected to grow in number. Maybe you’re just a couple right now, but if you are planning for kids in the future then you would need more space such as more bedrooms, and a bigger playing space. Moreover, if a home that does not accommodate two people properly at present could be torturous for three or four persons in the future.
As a consumer, it is necessary for you to look for all the amenities, features and specifications in your home that you crave for all in your life. Learn as much as you can about the property, and become better informed. This will increase the chance of finding a perfect house for you.
Also read: Home Buying Guide – Part 07: Choosing The Right Home Location
Home Buying Guide – Part 08: Finding the Right Home
Ajay Verma is a founder and writer of The Housing World, a real estate and mortgage news website. He brings with him 20+ years of rich experience in the real estate and mortgage industries. He has worked in senior roles in Delhi and NCR in the above-mentioned sectors.
