People buy property for a variety of reasons, including the emotional satisfaction of owning a home as well as an investment for appreciation.
Another reason is to generate consistent rental income. Whatever the reason for purchase, buying a home is a complicated process fraught with uncertainty along with being time-consuming and expensive. Given all this, it is surprising that people purchase homes even in metro cities without compiling information and considering certain factors.
Starting with Pune, which launched its metro services this year, we present a complete list of factors to help you understand what needs to be considered before purchasing a property. If these parameters are considered for suitable homes and their property prices in pune, your home and its location is bound to become the takers’ first natural choice.
Property Location
Undoubtedly, it is the most crucial aspect of purchasing a home and should be at the top of your priority list. Your location should allow easy access to workplaces, educational institutions, healthcare facilities, and other social and entertainment options.
Pune has seen tremendous migration over the years, contributing to an increase in demand for residential properties and promising fruitful returns to buyers.
Go for Top-Quality Builders
In Pune, there is no shortage of options for builders. The city has numerous commercial areas, including IT parks and malls, built by some of the biggest names in the Indian real estate market. The foundation of your home-buying should be laid by thoroughly researching the builder’s reputation and track record, as well as the excellence in work.
There is also another way to assess the reliability of the chosen builder.
Check to see if the builder has received any financial assistance from banks. They are trustworthy if the builder has passed a bank’s stringent inspection. It is because banks usually conduct extensive background checks before lending money, making your job easier.
Area Size
Sometimes it might happen that the builder may fail to deliver on the promises made. Furthermore, the carpet area’s shortcomings may occur compared to the buildup area before the project begins. The better option is to always go with the carpet area. Understand and communicate your requirements clearly so the actual structure can be extended.
Focus on Documentation
Maintaining the title deeds of your property before purchasing it is necessary. The property must adhere to the Maharashtra Government’s due diligence policies.
Here is a list of some of them:
- Examine the property card as well as the city survey card.
- Examine the documents. Also registered at the sub-registrar office are the document indexes of the property.
- If the property is owned by a cooperative housing society, communicate with the society and clarify the terms.
- Check all court-related records to see if any disputes prevail.
In general, documentation is a time-consuming and intense process, so hiring an experienced lawyer is recommended. Also, beware of the hidden costs!
Resale Value
You don’t buy a house to resell it, do you? However, things can change unexpectedly. And it all comes down to the decision you made prior to purchasing the property.
You must first consider the location. The more developed the neighborhood, the better the chances of selling. Second, the property should be amenable to remodeling. Remodeling is required to resell. To remodel, the property should be located in a large area.
Acquiring a house in Pune with appealing amenities also plays a role later on by increasing the resale value. A swimming pool, modern lifts, gym, yoga hub, play area, spa, and other amenities should be available in society.
Safety Matters
If you reside in a flat or apartment, it can pose security challenges. With an increase in burglaries and asset thefts, it is paramount to implement fail-safe safety measures. Sophisticated smoke detectors, alarm systems, motion sensors, and surveillance cameras may be beneficial. Also, prefer grille-based windows over completely hidden ones.
Summing it Up!
Purchasing a home is no easy task; it is a lifelong ambition for many. People are willing to go the extra mile to acquire a profitable home because they understand its significance. Consider these factors mentioned above to have fulfilling property ownership in Pune.