5 Things To Keep In Mind When Buying A New Home Or Apartment

The days of considering home ownership when you were almost at retirement age are long gone. Today, the average age of a home buyer is in their 30s, particularly for those considering residences priced under Rs 1 crore. However, people in their mid-40s and beyond are progressively moving to high-end residences that cost Rs 1 crore and more.

For those looking to buy a home or flat for the first time, it can be a daunting task as there seem to be infinite things to keep in mind. But it is not as harrowing as it seems. We are here to tell you about a few criteria that you should keep in mind while investing in a new house. It goes without saying that your budget is the most important factor before buying a flat in any residential society. To ensure that you are getting your money’s worth, check for the following criteria.

Accessibility

It is important to see how accessible your new flat or apartment is from key areas in the neighbourhood. Are commuting facilities easily available? What is the distance from your workplace, school, hospital, local markets and all such things that need to be evaluated

Amenities

Many housing complexes provide amenities like a clubhouse, swimming pool, parking facilities, and garage among others. Choose your home according to your needs.

Safety

The safety of your family is one of the most important factors. You should ensure that the area where you are buying a house is safe to live in. Try buying homes in respectable and reputed localities where reports of miscreants are minimal. Also, enquire about whether the security system (patrolling guards) in the colony is efficient.

Future Growth

What will be the future of the area where you are going to buy a house\flat? Is there scope for further development in the future? This is also an important determinant when buying a home.

Resale Value

If sometime in the future, you want to sell off the flat, you should be sure that you get a good resale value. Real estate experts can help you calculate the market value of your flat a few years down the line.