Investing in a real estate property is high in trend and seems to get least old-fashioned. You may have an agent or broker to guide you but you need to investigate a few things on your own. This is done for safety and assurance that your investment is not in vain.
Investing in a real Investing in a real estate property is high in trend and seems to get least old-fashioned. You may have an agent or broker to guide you but you need to investigate a few things on your own. This is done for safety and assurance that your investment is not in vain.
Let us help you with a beginner’s guide on buying any real estate property, be it an affordable 3 BHK Apartments, 4 BHK or 5 BHK Luxury Flats.
3 Things to Check for the Real Estate Develope
1. Past Projects History
It is quite fancy to buy a property being constructed by a popular Real Estate Developer. But, it is you who will utilize that particular property purchased. Hence, you need to research on the projects developed by the builder group in the past, the amenities they provide and if the residents face any problems with it.
Establishing a trust factor should be your first step before you buy any real estate property and past projects history will assist you.
2. RERA Registration
Real Estate is one of the common interests of most investors and hence RERA is an initiative by the Government of Gujarat. It provides a secure platform for transparency between customers and developers to encourage investment whilst consumer rights protected.
So, you need to check & verify if the property is registered on RERA. All the information related to the project will be available there.
3. Recognition & Rewards
Rewards speak louder than words. You should check if the developers have received any awards or have been recognized for any of their projects. Like Shreepad Group is recognized by IGBC for “Green Building” & rewarded with the Highest Pre-certified Platinum Certification in 2019 for our project – Shreepad Park Arena.
Furthermore, you need to have a check on the following things once the information on the developers is accumulated.
5 THINGS TO CHECK WHILE BUYING LUXURY RESIDENCES
1. Get back to the basics
What is the first thing you do when you find a luxurious flat you want to buy? Well, safety and security come into the basics. Your luxury residence should be studded with protective features like CCTV camera, fire exits, clear evacuation plans and more necessities required to make the residents feel safe and protected. It should be nearer to the vegetable market, hospital & transport facilities should be available at the walking distance so that you can access your basic needs easily.
2. High-end Amenities
Have verbal discussion sessions with the real estate developers about the high-end amenities they will offer with the project. Discuss the maintenance period for the facilities like swimming pool, elevators, lift, fire safety services and so on.
3. Green Space & Eco-friendly Surroundings
Sufficient parking space, spacious lawns, jogging track, walking area, kids play area and the well-being of the surroundings impact a lot. Check out for the healthy surroundings by making yourself familiar with the property you want to buy.
4. Consider your Future Need
You may shift to a 5 BHK Luxury Apartment from your Premium 3 BHK Flat. What would be the resale value of this flat then? So, you need to make a rough calculation of the approximate value you can get back in the future.
Thinking of the future is what you should plan now while buying a real estate property to make the most out of your investment. Also, you should plan ahead of the steps that you should take if the project crosses the timeline but is not completed yet.
5. Go on a Self-Expedition
Don’t rely on the photos and attractive brochures. Pay a site visit, check the sample flat and visit the property while it is under construction to see if things are going as expected. This will help you in taking the necessary steps if something goes wrong.