Working out a home buying plan
For all of us buying a home is the most challenging task, however, if everything worked the way it should then it gives a sense of accomplishment and joy as well. The decision of buying a home mainly depends on the needs of the individual and the price of the property, although there are many other factors in play. Finance, however, is the major aspect of home buying and one of the deciding factors of achieving your dream home.
There is already a lot of supply in the residential market and a lot of them are ready for possession. This is the reason why the developers are not very certain about starting up with new projects not before the existing projects are sold out. The same is the reason why the developers are trying to attract buyers with exciting deals and offers. Buyers should be well aware of the value of the property they are looking to buy. The decision should rely on the real price of the home. The offers and deals are just plain attractions and don’t add up to the real value of the home. Later on start filtering your choices based on your needs, builder reputation, choosing between ready to move or under construction properties, and other factors.
The price of the home is the major deciding factor for working-class home buyers. However, looking for cheap options is just delusional as the quality of the property determines its value. The important factors that define the quality of a property are:
Location
Brand value of the builder
Facilities and amenities
Location determines the value of the property. It means that homes at central locations are more costly as they offer great access to other prime locations in the city. Being close to your workspace is essential as it will save a lot of commuting time allowing a well balanced professional and personal life. These centralized locations offer vast options for jobs with better growth aspects. Thus living in these locations makes them very appealing from the buyer’s point of view and expensive from a real estate pricing standpoint.
The brand value of the developer plays a very important role. Centralized locations attract all kinds of developers - from developers who specialize in providing a luxury living to those who specialize in constricted cubicle sized homes. For Indians, buying a house is not just an expense for an asset but an entity that performs critical functions of offering comfort and security. Branded developers make these functions as a part of their standard value offering.
The stress of urban life on us demands more comfort and easy living. So looking for a property with enough amenities like a clubhouse, swimming pool, and children’s play area is what a buyer would expect. However, properties, even without such luxuries can attract buyers due to the low prices thus narrowing down the options to a more affordable level. One thing to notice is that more affordable properties are located on the outskirts of the city where the buyer has to compromise on less commuting.
