10 things to check before buying property in Delhi
10 things to check before Buying property in Delhi
Buying property in Delhi is a one-time decision for many. This is a moment when you are excited, stressed, and at times in a hurry! You look at some properties and one of them gives you the feeling of “that’s my dream home”.
You become attached to something special about the property and every other aspect suits you. On top of this, you may find that you want to block the property as soon as possible and get into the process of booking money, arranging for down-payment, and finalizing the home loan.
But, this is not the time to be hasty, but to slow down. You should take some time to step back and calm yourself down as this is a decision that will affect your entire family, life, and finances. And you shouldn’t regret it later.
Just as a detective investigates a case and analyzes a situation in-depth and then comes to a conclusion, you should also do some important investigations before deciding to buy a property. That’s why we come up with 10 things you should look at and think about.
These 10 points can also become a comparison tool for you to compare two or more properties, which we will look at at the end, but before that let us see what are the 10 parameters you should check before buying a property
10 things to check before buying a home or Property in India
1. Goodwill of the builder and the overall brand
Before buying a property, it is important to take a look at the builder’s profile and its overall history. How many projects they have already given, how much delay is there, visit the builder company website and check old projects and ongoing projects.
Search the internet with the previous project name and you should be able to find some important information about it. See what people are talking about Builder & Property.
2. Connecting to your workplace
An important parameter to look for before buying a property is the distance between your workplace and the property. This is something you have to deal with every day. A property that is 3 km away from your workplace is very different from a property that is 12 km away from your workplace.
Long distances can mean increased fuel costs, longer travel time and frustration, and burns every day for many years to come.
3. Contact with schools, hospitals, transport, markets etc.
You should check how far are schools, colleges, hospitals, markets, shopping places, and bus/train stations from the property. It shouldn’t be that to save money on property, but then spend every day traveling to get your kids to school. Access to other important places is also very important.
4. Future Resale Potential
When we buy a property, we get attached to it thinking that we’re going to be there for the next few decades, but no one knows when you’ll pack your bags again to move to a different location for various reasons. At that point, if you find out that the property was suitable for you, but not for someone else, it would be a very bad situation. So you also need to think about the “resale” potential of the property you buy.
Will the property appeal to anyone else? Think about it again. For example, you may be looking at a property that has general parking, but what about in the future, at the time of sale, everyone you talk to wants dedicated covered parking?
Also, most of the people buying under-construction properties are far away from the core city. So it is an important point to check regarding future developments around the area.
Find out what is the future development plan for roads, flyovers, proposed malls, and other things that may come in the next 4-6 years. If the location is not yet properly connected to the main city, there may be future plans for it.
5. Rental Potential
Many times people give their property on rent and move to another place. At that point, if you come to know that the property is not that attractive from a rental point of view, you will regret your decision.
I am not saying that this is going to be a deciding factor in your decision, but still, keep it in mind and look at the property from that point of view.
If the property is located near or centrally to colleges, or close to commercial places, you will never have a problem with people renting out your property.
6. Air & Lighting
Air and light are something that will determine your experience of life on a daily basis. The flat you live in should have enough light (natural light) and proper air. You should also check how the wind blows from different angles.
The airflow in my current flat is amazing. So when you look at the property, check if there are some other buildings blocking the air and lighting. Which side are the terrace or balcony and the view outside.
7. Amenities Offered
You should also check what kind of facilities are offered along with the property. Things like clubhouse, parking, lift, power backup, swimming pool, gym are some of the facilities.
Now you may be a simple person who wants a minimal amount of things, but if you want to make sure that the property has great resale potential, you might want to look into these things.
After all, all of these things matter to you or the people associated with you, and if no one else, the next buyer from you, will see it all.
8. Construction Quality
When you visit properties, check the quality of the construction. By this we mean the look of the walls, their overall look, and feel, how the finishing is done, does it look premium or does the paint look like it will wear off very soon.
Check wiring, fittings, quality of tiles, etc. If it is an under-construction project, all you have to do is search the internet about the builder and his past project experiences and what past buyers are saying about it. Just enter the builder’s name or any previous project name on Google with the words “+ build quality” and you’ll be able to get some ideas – like this project in Chennai.
9. Road Conditions Around Property
I saw a property which was a little inside the main road. The road was not straight, but zigzags were in fashion and not as wide. It was not the main road but the inner road, so there was no chance of getting a better road in the future.
Traveling by the same road every day will frustrate you in the long run, but it may not happen on a daily basis. It is not safe even at night. So when you look at a property, check the condition of the roads at least 500 meters from the project.
10. Locality and Kind of people living around
You should also check the overall locality and all who are living around. Are you comfortable there, will your family be fine? Will it be safe at night? Would your wife/mother be able to go for a walk for an hour if she wanted? These are some of the questions that you need to answer before buying a property.