- 18 June 2018
The decision to buy or own a property or home is possibly one of the most important ones we make in our lives. And there is much planning that goes into the home-buying process. Professional requirements, connectivity options and neighbourhood specifics play a vital role in narrowing down one’s place of residence.
It makes sense to verify market trends that a city has seen over the years, together with property options, before deciding on a project.
So if Bangalore is a potential choice, one should ascertain:
- What are the different types of residential properties in Bangalore that are currently up for sale?
- Are there enough job opportunities in and around the vicinity?
- What is the infrastructural growth of the area?
- Is one looking for flats in Bangalore or is there a preference for duplex homes or villas?
- Is the neighbourhood family-friendly?
- What are rental rates like?
These are some basic due-diligence aspects. Let’s explore a few more.
A thorough, unhurried market study is critical to evaluate projects and growth potential. Also, what are the current inventory levels in that area?
It is also important to evaluate mid-recent property price appreciation trends of any given locality. Other factors include social infrastructure such as educational institutions and healthcare and retail outlets; transport facilities; and future growth prospects of the area.
The early bird gets the worm!
This saying holds true when it comes to property buying. Optimal timing is a must to strike it right! Simple things such as getting a pre-approval on a bank loan can speed up the home buying process considerably. One can also look at properties that have been on the market for some time – the likelihood of offers or deals is higher on these.
One way to find great deals on a home, especially in metro cities such as Bangalore or Mumbai, is to keep looking out for what’s new in the market. Take into consideration a project’s offerings, etc. It is advisable to consider trustworthy real estate developers with a proven track record such as Mahindra Lifespaces, to ensure RERA compliances and all statutory approvals. Clear land titles, all paperwork in place and a robust mechanism to address any customer queries are positive signs.
Follow the above-mentioned things and let your home-buying process be a smooth and joyful one!