The paradox that new homebuyers are in is very understandable. Having to pick from millions of homes is not an easy task. Each developer calls themself the best in class, and it is impossible to make your home search a fast process.
However, if you are looking to invest a home today, there are only a handful of guidelines that can help you make a better decision. Here are the top five ways to narrow-down the home of your dreams.
Does the Area Add Value to Your Home?
When you invest in a home, you don’t just buy a piece of land; you place yourself in the ecosystem that surrounds it. This change is the reason why you should research the area around your home before making any commitments.
If you are a parent, ensure there are schools and recreation hubs nearby. If you are someone who likes being outside, check the places for eateries, pubs, and shopping destinations. The location should also have a scope of improvement. If the area has no promise of growth, you will notice very little appreciation for your investment.
A good example of a flourishing area is Kondapur, which is close to the IT and financial hubs of Hyderabad. Aparna Luxor Park, a gated community with 3 and 4 BHK luxury flats, is a project worth checking out in this area.
What Is the Local Opinion?
The opinions of the people who live in the area are the ideal first-hand information you can use to make a better decision. This information can be based on the online reviews of the apartment, review of nearby attractions, and the local news from the area.
This step helps determine the minor details of the area that affect living conditions, like reliable internet connection, water supply, uninterrupted electricity, domestic help availability, etc.
What Is the Purpose of the Home?
Before you invest in a home, ask yourself why you are making this investment. If you’re living there yourself, all the above-discussed parameters are crucial. You will also have to consider your commute to work and the availability of extracurricular activities.
If you’re looking at the home as an investment, you might want to either hold the property for a few years or rent it out. If you plan to keep the property, ensure you invest in a developing and demand-worthy neighborhood. Aparna One in Shaikpet is a great project for real estate investors in Hyderabad.
If you depend on the rent from the home to repay the loan amount, check the availability before buying. The developers would usually assist homeowners in seeking tenants for the home.
Is Development Reliable?
Once you have narrowed down the area, it’s time to study the builder. The real estate market has many players, and not all of them are reliable. Do your research and invest in a home that is backed by trust and experience.
This will ensure that your investment is safe and meets the completion deadlines. A quality developer will also fulfill many other requirements like amenities, in-home maintains, security, parking, and much more.
How Will You Pay for It?
Lastly, you must keep a tab on affordability when thinking of a home search. Most homes come in collaboration with an affiliate bank. These banks study the property, both physically and legally, and then sanction loans to buyers. Affiliate banks give you better interest rates and lower the hassle of paperwork.
Ask your developers about their banking partner right at the start. Analyze your expenses and income, and seek advice from financial experts before you make any drastic decisions.
A good rule of thumb is to shortlist the area and the developer first, and then find the property that interests you. This will ease the home buying process and make decision making much more straightforward.
The leading developer in Hyderabad, Aparna Constructions, has created top-of-the-line luxury homes that cater to all the needs of the present-day homebuyer.