FAQ’s – First Time Residential Property Buyers
- November 23, 2020
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Looking for the perfect property is no big deal in today’s world, but the questions which haunt us while buying a residential property, mostly have innumerous answers to them. And hence, we here at Aurobindo Realty are giving you some of the frequently asked questions, which a first-time residential property buyer can think of!
Is it just a fantasy?
Owning a house, sounds just as fun as living in it, but are you really looking forward to it? You might hear a lot from your colleagues, family about property ownership and might also feel that you should own one too, but is property a thing you actually want now? Remains the most important question.
How would I know the differences?
Technicalities are something you should always look up to in the property. If one doesn’t know how and what about the property, then it’s useless to even think of buying it. Get the basic knowledge about properties like Carpet Area, Built-up Area & Super- Built-Up Area. The carpet area of the apartment does not include the area covered by the external walls, balcony, or terrace. The built-up area is the area which is the sum of the carpet area and the thickness of walls of the housing unit. The super built-up area is the total sum of the built-up area and the area occupied by common areas like the lobby, lifts, staircase, garden, shafts, clubhouse, generator rooms, swimming pool, etc.
Should I buy or rent?
Buying a home can be a very solid investment. This being said, renting can also be a better option for some, depending on the circumstances. One of the most important questions you should ask to answer this question is the length of your stay? If you don’t have a longer length, then renting would be a nice option for you.
When & Where?
Location & Time are really important when it comes to buying a property. If you know where in the world, the nice properties are and when they are available, you can be somewhat sure about buying one. For eg: Kohinoor Projects are bringing one of their new properties in Hyderabad – Kohinoor Apartment Hitech City. It is one of the finest upcoming developments in Hyderabad. Just like this, if you know the new upcoming projects in Hyderabad one will plan their buy accordingly.
Is it affordable?
As a first-time homebuyer, the most important thing to bear in mind is whether you can really afford to take this step. Put together a budget before you start looking for a property. This will help you to work out your monthly affordability. Consider all outgoings and overheads, as well as those pesky additional fees we mentioned earlier.
While buying a home, being fully educated is one of the best things you can do. These questions might occur to you before even looking for properties, but it shouldn’t stop you from buying one. Because at the end of the day, Owning a residential property is an investment for a lifetime.