What should be considered while buying a residential property?
Everyone has a set of priorities and reasons for investing in residential projects. Buying a house is quite a complex procedure and takes a good amount of time. If you are one such potential buyer, you have to take judicious steps to ensure that you do not go off track. The features that you should consider in the residential properties should be beneficial to both you and your family members. While investing in commercial properties, has their own set of guidelines to be followed, you should keep in mind certain other things while going for residential investment.
Let us discuss a few important things when we want to invest in buying a house for ourselves:
• Location of the property – The location of the house is of utmost importance. The buyers are interested in finding a location that is at close proximity to the places they visit. Would not you be interested in buying a property, which is close to the schools, hospitals and prominent market places? In this way, you can save a good amount of time and money, involved in an unnecessarily long commute. Here also, there are preferences. Some people avoid the hustle and bustle of the city, while others love the buzz.
• The area covered – The area is often a personal preference. The size of the project depends on the number of family members and the capacity to invest, mainly. In this regard, there are some others who prefer a particular sized complex, like an L-shaped project or corner plot. There are others who allot a certain portion of their house, for generating revenue, like giving it out on rent.
• Kitchen layout and the number of bathrooms – Many of you might have a special liking for the way the bathroom looks or what is the layout of the kitchen. The number of bathrooms also matters a lot. A family which has more members will need more than one bathroom. A kitchen is a place where people form culinary stories. Guests often gather at this place and share good food and good thoughts. Thus, the layout of the kitchen also matters a lot.
• Age of the house – If you are looking out for newly constructed projects; this might not be your topic of interest. But, if you are also interested in homes with a vintage feel or pre-owned houses with more space, you can go through a collection of all sorts. Irrespective of the age of the residential building, you can look for a project suiting your requirement. Just make sure that you do not land up buying a beyond repair property.
• Purchase price – The most important criteria are the price at which the house becomes yours. If you are looking for a house loan, you should determine the price, beforehand. Whether at all, you will be able to meet the down payment need or the monthly instalments, goes a long way in the type of project you choose. There is always more than the purchase price, so determine all costs.
Commercial properties in Hyderabad, are also much in demand. If you are interested in investing in one of them, it is also a good decision to expand your portfolio.
