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16

Oct 2018

Things to look out for when buying a house

1 vignesh
| Blog
| 0

These days, one is bombarded with plenty of information regarding costs, amenities and benefits, even before one decides to buy a home. It’s no wonder that the decision to invest in a new home is so difficult and complex to make. That is why we, at Appaswamy, have rounded up the most important aspects you need to consider before purchasing your dream home.

Builder Reliability

The importance of finding the right builder cannot be stressed enough, as it reduces your hassle infinitely. It is good to start with primary research about the developer, in terms of prior projects, timely completion, legal issues with respect to titles, etc. Crucial aspects of construction quality, such as approvals and licenses, have to be checked, as well.

Location

In addition to being close to work, proximity to well established schools, hospitals and shopping areas will help you narrow down on a locality for your dream property.

Ensuring easy access to public transportation is prudent. This would especially be essential if the property is on the outskirts of the city. Within the city, weigh in location preferences of your family members. It’s a good place to start looking around areas where your close friends and family reside.

If you plan on selling or renting out your property in the following years, statistics on location-based appreciation would be the most important factor to consider. It is wise to assess intentions before buying property.

Amenities

Identifying the requirements of your family will help you use the amenities available wisely, and plan expected monthly expenditures, as well. A house with elders will require a garden, yoga center and relaxing public spaces; whereas a house with children would rather having a swimming pool, playground, and other sports facilities.

Swimming pool at Appaswamy’s Capella on Arcot Road 

 

Terrace garden at Appaswamy’s Capella on Arcot Road

Another key consideration is the allocated parking space for each apartment, and the cost of ownership, if you require additional parking spots.

Financing

Banks play a major role in any home-buying project. Make sure to go through all the loan document and understand clearly aspects such as pre-closure charges and interest components, among others. Plan your finances by budgeting your expenses for the tenure of repayment. An understanding of the actual costs involved, factoring in anticipated and unanticipated expenses in the future and an increase in the cost of living, will help you assess if you will be able to comfortably manage the EMI payment every month.

Finally, it is also indispensable to employ a lawyer to go through all the bank and property documentation before making any commitments or transactions.

Appaswamy’s Capella, located at the heart of the city on Arcot Road, Vadapalani, is a property that will definitely check all your boxes. Call now to visit the model apartment.

RERA No: TN/29/Building/0198/2018 dt. 14.06.2018

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