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Important Things to Keep in Mind Before Purchasing an Apartment

Congratulations, your most prioritized wish of “owning an apartment” is going to surface soon. But wait, this wish of yours is not going to be a smooth process as it demands immense time and effort in verifying several things before you sign the agreement papers. Though you are investing a big chunk of your hard earned money in real estate, it is still rewarding when you remember to keep these things in mind before purchasing your cozy nest.

Decide first: Before even you start your hunting process, it is better to determine the very purpose of buying the apartment. Answer this question, “are you going to buy the apartment for investment purpose or for a living?”. Both have various factors to consider and never jump to a conclusion that your rental income will pay your EMI if you are buying for investment. There are possibilities that your apartment might remain vacant for months. If you are buying for a living, look at all the facilities and see whether they meet all your requirements such as nearness to the office, school, good infrastructure facilities, continuous water supply, etc.

Builder’s reputation: Verifying the reputation and credibility of the builder is the first step to take in your apartment buying journey. You need to verify the past and current projects of the builder and also verify whether the previous ones are completed and delivered on time to the owners. Ensure to check if there are any litigation issues going on. In fact, enrolling in online forums and groups that discuss on these topics would be beneficial to you.

Sai Kalyan Builders and developers” are having good reputation in North Bangalore.

Calculate the actual cost: When you talk about the cost to broker or the builder, they might quote you the basic cost which doesn’t include the other charges that come bundled with your home such as preferential location charges, car parking space charges, service tax, etc. Insist on getting the final price from the builder and be ready for some surprise costs that props up all of a sudden. Allocate some money for those extra costs that come in addition to the total actual costs.

Know the actual area: When it is mentioned as 1500 sq feet in the brochure then it is the total area including the common places such as the lobby, staircase, etc. Never jump to a conclusion that you would be enjoying all 1500 sq feet space inside your home. The carpet area is the area of the house and it is lesser than the actual area. Ask for the actual carpet area of the house and negotiate accordingly.

Home Loan: Home loan is indeed a crucial process in buying a home. First, check for the list of banks availing loan for that particular project and check for the interest rates that each of them offers. After finding this information, work out for the best home loan that suits you. Also proactively provision some funds for the times when your floating EMI fluctuates.

The other costs that get added are the cost of amenities, registration charges, insurance if you are opting for one, cost of woodwork and processing fee for home loans.

It is better to follow these things to enjoy a hassle-free buying of an apartment

1) Maintain a good credit score,
2) Using your own money and less of home loan,
3) Performing inspection and a good enquiry about the project,
4) Choosing a well-ventilated house
5) Talking to the builder about the penalty paid by him to the owner if in case of delay in project handling.

Since ever inception, We, “Sai Kalyan Builders and developers” have been rated as a quality builder offering high standard housing to our customers. Our latest project “Sai Kalyan ULTIMA” is built at a perfect location that completely satisfies all your urban life needs. Book a home now to enjoy your sleep on those comfortable linens.

If you are planning to buy flats around Manyata Tech Park, please contact Sai Kalyan Builders.

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