The number of residential apartments and flats are growing up day by day along with its usage. Most of the apartments are situated in and around cities. Now people are moving towards urban areas where they can access everything quickly. More and more people are opting to live in apartments for several factors such as increased security, more amenities and less maintenance responsibility. If you are planning to buy an apartment or flat then before that you should consider the following things:
Builder’s Reputation
This is the most important thing you should consider before buying an apartment. Check whether the reputation of the builder is good or not. Not all builders have a good reputation. If you are not moving with a reputed builder then you will face some risks in investment in future. So check the past history of the builder about the completed projects and whether they have been delivered on time. Also check the general feedback, building specification and building quality of the builder.
Title of the Building
Check if the builder holds the rights to sell the apartment to you. The original land might belong to a different landowner, so the agreement between the owner and the builder has to be valid.
Legal Status of the Project
Check whether the legal status of the project in terms of the approvals received. Ensure that the project is approved by the local officials and major amenities such as water and electricity are available.
Price Negotiation
You need to have someone experienced negotiating the price for you. This is beneficial because professional know more about the market rates and the current real estate trends. A good negotiator will be able to stand in the gap between you and the builder and get you the best possible mutually acceptable deal.
Projects Considered
You should consider almost 100 properties and place an offer for 10. Out of those 10, only 3 might get accepted, from which you can choose one. Do not choose an apartment in a hurry. Research deeply about the apartment projects you see before taking a final decision.
Floor Plan
Study the floor plan of the apartment you’ve chosen. The actual carpet area will be much lesser than what has been quoted. Check that each room’s dimensions are what you are looking for. Verify the location of balconies, bathrooms, utility areas, and all the doors and windows.
Location and Direction
Take some time to consider where your chosen apartment is located in the overall project layout. You should also visit the site to check that your selected apartment is facing the direction you prefer.
Project Phase
There are 4 different stages of entry for your apartment project. Pre-launch, launch, completed projects and community are the four phases. Each phase has its own advantages and disadvantages. Assure that the price you’re paying for the apartment is based on the current stage of the project.
Apartment Community
You will have to check what are the chances that an active community will be formed in the apartment complex. There are several factors that influence an apartment’s community. If the apartment is located in proximity to main roads, schools and shops, more people will want to stay there.
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