A recent survey has revealed that about 67% of home seekers end up buying a home that doesn't accommodate their needs and aspirations. It's like a bad marriage where the couple is forced to adjust to the circumstances. You have to be extremely discerning when you search for your dream home. A few handy tips are given here to help you zero in on your dream home. Happy home hunting.
LOCATION - IS EVERYTHING FOR HOME
The paramount concern when you relocate to a new home should be convenience. The location of the home should place you near to your work place with urban conveniences like shopping and public utilities within walking distance. Your kids must be able to catch the school bus and dropped back preferably at your gate. If the access road to your home doesn't have at least 6 meters width, it would be difficult for two vehicles to pass comfortably. Please also check out that the area has adequate power and water supply. Check out these factors before buying a new home.
TIMELY DELIVERY - HOME DELAYED IS HOME DENIED.
If you opt for a group housing project like a villa or a high-rise apartment it will normally take 18 to 36 months (depending on the size of the project) for the project to be handed over. Since the completion of the project is dependent on factors like timely payment of all buyers and the resourcefulness of the builder, you should always go for a builder who has a track record of timely delivery. More over, any delay in delivery will accrue pre - EMI interest on your housing loan, not to say of the agony of your dream eluding you indefinitely.
NEIGHBORS - YOU CAN'T CHOOSE YOUR RELATIVES. BUT THE NEIGHBORS YOU CAN.
Where you are born is your destiny. But where you live is at your sole discretion. When you buy or relocate to a new home, make sure the neighbourhood is your own social status and liking. When you opt for an apartment or villa from a reliable builder, worries about good neighbourhood are pre-empted. The community you live among will be of your own liking. Your family members will have an enjoyable social life. Your children will have good company to play with.
CHILD COMPANY - YOU CAN'T HAVE MORE KIDS, JUST FOR THE SAKE OF GIVING YOUR CHILD COMPANY
The concern for your children's future is understandable. When you decide to relocate to a new home, make sure that the home environment is conducive for your children's growth. A little greenery and recreation facilities to play around, and a few friends to share some meaningful time together make a lot of difference to your children. Opt for a home from a reliable builder who provides amenities like children's play area, landscaped surroundings and round-the-clock security to the community. Your children will have friends of their own age group to interact with. Even if both of you are working parents, they will be safe at home.
SECURITY - SENSE OF SECURITY IN A COMMUNITY HOUSING IS AMAZING.
Most households today are nuclear families. If both parents are working and the kids are school going, nowhere else will you find security available with a group housing. The security arrangement in an apartment complex will ward off all unwanted salesmen, beggars and suspicious strangers. Even if the family goes out of town for a few days your home will be safe and secure.
ADDRESS - THE NEXT THING PEOPLE ASK AFTER YOUR NAME IS THE ADDRESS
When you meet a new acquaintance, after the niceties the inevitable question arises. "Where is your home?" Your address silently says volumes about your background, your achievements and the personality you are. If you are an owner of a prestigious home address your prestige naturally rises. When you own a new home, be careful about choosing the right address, which will grow in value and stature over time.
COMFORT - WILL YOU FEEL LIKE A FISH OUT OF WATER IN YOUR NEW HOME?
Your home is your chosen habitat. It is much more than four walls and a decent roof. If your windows open to intrude a neighbor's privacy or vice versa, where is the peace of mind? If the layout of your apartment obstructs free flow of natural light and air, where is the cozy comfort you've craved for? Only a builder specialized in community housing can design and deliver spaces to ensure privacy, creature comfort and an airy feel. Before deciding on your home, check out design and layout and carefully go through the specifications and dimensions of each space. Ensure that every centimeter of space you paid for is usable area.
TENANT - DON'T END UP BEING A MERE TENANT AT YOUR OWN HOME.
There're some unscrupulous operators in the real estate industry, who either mortgage the land or sell apartments at a plot, which doesn't have a clear and unencumbered title deed. Once the construction is over, you might get the possession of the apartment unit, but your ownership papers may have to wait till the builder clears off all liabilities. Even the repossession of the property by a financing institution and eviction of the tenants are a distant possibility. Before purchasing an apartment, demand for a copy of the title deed, and once you make the necessary payments get your rightful undivided share in the land registered in your name.
MATERIAL & SKILL - YOUR HOME IS ONLY AS GOOD AS THE MATERIALS AND SKILLS GOING INTO IT.
Constructing a bridge or a building is one thing but creating a home is another. Only a builder who has the experience in housing projects and maintains consistent quality standards can deliver you a home, where you can live peacefully. Check out whether the builder has quality accreditation like ISO certification. A good builder will have experienced engineers to oversee every aspect of construction in compliance with the stipulated norms. Apart from the structure finishes and fittings shall be of higher standards, installed by skilled workforce.
POSSESSION - WILL YOUR HOME REMAIN A PROUD POSSESSION EVEN AFTER SEVERAL YEARS?
Every apartment complex looks good and inviting when it is new. As the years pass by the vagaries of nature will take their toll on the building. It all depends on the construction quality and regular maintenance of the structure and premises to keep it as good as new for many years to come. Only a professional builder adheres to quality standards in the materials and skills used in creating a project. A reliable builder also ensures the formation of a proper Residents' Association with adequate resources and planning to take care of the future maintenance and upkeep of the community facilities.
RETURNS - EVEN IF YOU DON'T FEEL THE URGE TO OWN A HOME NOW, THINK OF THE RETURNS IT HOLDS.
If you already own a nice home, it is most likely you will be averse to the idea of owning a second home. If you consider the returns on a home investment, it is definitely food for thought. Depositing money in your savings in a bank account or Fixed Deposits will yield only marginal returns. Which may not overcome inflation. The unpredictable fluctuations of the stock market and risks involved make it an unattractive option. When you invest your money for a new home, you can definitely earn around 5% to 7% through rentals. The capital gain appreciation of the property will add another 7% to 10% to your investment every year. Even if you avail home finance, part of the mortgage repayment will be taken care of by rental earnings. Down a few years you will have a substantial wealth for family.
HOME FINANCE - YOU DON'T NECESSARILY HAVE TO SAVE A FORTUNE TO OWN A HOME.
Money is not a stumbling block any more to realize your dream home. Now easy home finance is available from banks and housing finance organizations. Interest rates are as low as 10% for a tenure of 20 years with Equated Monthly Installments (EMI per lakh per month) just Rs.950 onwards. When you buy your home from professional builders, most likely all their projects will have the pre-approval of leading financing institutions.
INDEPENDENT HOUSE - INDEPENDENT HOUSE OR COMMUNITY HOME, YOU BE THE JUDGE.
Some people have a notion flat independent house is superior to community housing. When you dwell deep into the pros and cons of both, you'll naturally opt for an apartment or community villa. Owning an independent house in a good urban residential area will cost you the skies. When you opt for an apartment from a professional builder, you will get a home in a peaceful residential area for a fair price. Besides there will be common facilities like round-the-clock security, generator back up, fitness center, landscaped leisure areas, swimming pool etc. shared among the community. You can really enjoy a comfortable urban lifestyle for a nominal price.
INSPECT PROJECTS - INSPECT A FEW PROJECTS OF THE BUILDER FROM WHOM YOU INTEND TO BUY YOUR HOME.
Every housing project looks beautiful on paper. Those who have undergone the travails of building a room would understand the task of building a high-rise apartment or community villa. Before you buy a home from a builder, inspect a few projects of the same builder to understand the quality and standards he offers. Better still, ask some residents, about the quality of the projects and the living standards. Better to be prudent and do your homework before buying a home, because you don't buy a home every other day.