7 Things To Keep in Mind Before Buying Apartment in Bangalore

Buying an apartment requires meticulous thinking. A new apartment is a big investment which usually takes up most of your life savings. In a city like Bangalore, finding the perfect apartment is not very easy and you need to prepare yourself thoroughly to take up the challenge. Here are 7 things you need to consider before signing the sales deal for your new apartment:

Legality

Before narrowing down your apartment options, make sure that the property plans are approved by the government of Karnataka. Make sure that the plans follow the laws set by the government and have no deviation from the original plan. When you see ads for apartments for sale in Bangalore, be sure to read the fine print. Talk to the developer and make sure that they provide the government approved documents to you, including the clearance certificate and the occupancy If you’re a first time home buyer, consult a legal advisor to clear all your confusion

Builder Reputation

Before finalizing the purchase, do a bit of homework on the builder’s reputation. Check out their previous projects and go through the customer reviews to get a better understanding of the people you’re dealing with. In a huge city like Bangalore, there are some people who try to con innocent homebuyers and make waver from their promises. If you’re planning to buy an apartment of under-construction project, be sure that they provide the apartment at the promised possession date, along with the required documents

Project Location

Your new home is going to be a place where you’ll be staying for years and so, thinking about the future of the location is important. Bangalore is an IT hub and the growing workforce has led to the development in almost every nook and corner around the city. Consider the future development in the area you’re purchasing the property in. It’s not necessary to buy an apartment in a complex located right on the main road but make sure that it’s well-connected to the city. [bctt tweet=”While choosing a location, check the proximity for basic prerequisites like hospitals, grocery stores, schools, public transport, banks etc.” username=”RoofnFloor”]

Amenities 

What are the facilities and specifications provided by the builder? Some developers may list an array of amenities to lure in potential buyers but it’s your duty to look at the bigger picture. What are the basic amenities required while staying at an apartment? What is the luxury features the builder is providing? Everything needs to be kept in mind while zeroing in on the right apartment for you

Apartment Area

When the area of an apartment is mentioned, you might be eager to know that you’re getting a spacious apartment at a great price. Well, there are three different area terms you need to understand before going ahead with the property purchase:

• Carpet Area: This is the actual area of your apartment
• Built-up Area: This is the total area occupied by your carpet area (the area confined by the four walls) and the area occupied by the apartment walls
• Super Built-up Area: This is the sum of the carpet area, built-up area and the proportionate of the common areas of the residential complex

Usually, the price of the land per square feet is on the basis of the super built-up area.  Be well aware of the calculation before purchasing the apartment

Budget

Calculate your budget before house-hunting! If you’ve decided on a location you would like to purchase the flat in, Be well-versed with the current market prices before investing. Before finalizing the property, make sure that you consider all the add-on prices. Other than the price paid to the builder for the apartment the add-on costs include:

• Club membership charges
• Parking space charges
• Service tax
• Stamp duty
• Registration charges
• Home loan processing fees
• Electrification charges
• Transformer charges
• Floor rise charge
• Water supply charge
• Preferred location charges (PLC), etc.

Your actual property cost will be the sum of all these expenses. Find out what the add-on expenses are for the apartment before finalizing the deal.

Competitor’s Work

[bctt tweet=”Don’t be too quick to judge in real estate matters. Do a bit of research on the projects done by the competitors in the location you choose. ” username=”RoofnFloor”]When you compare different projects, you will be able to make a better choice about the quality, facilities and the price of the apartment you wish to buy

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