Tips Before You Buy a Residential Apartment

Before visiting a property dealer, if the customer has done suitable research, it helps him to take informed choices on buying the apartment. For research, you can do some brainstorming with acquaintances with regard to the following key points:

1. Basic Amenities:
This really is priority number one, since it involves all critical requirements such as water supply, power back up, elevator, parking space, lift back up, hospitals, grocery shops, departmental stores and transport facility.

2. Dimension of the house:
On the basis of one’s funds, one could decide to go for LIG, MIG, HIG or builder floor etc. There are certain societies where there is a major difference in size of the flats in spite of belonging to the same class say HIG. Hence, one should ensure the size of the apartment before making any purchases.

3. Location of the Floor:
With a lot of the societies operating without any elevators, the floor location of the society flat becomes critical. As a result, a ground floor flat is invariably offered at a premium as compared to a top floor flat in the same building.

4. Location of the Society:
Your preferred location could be close to a market or a bus stand, if you are habitual of residing in an extremely developed location you can select posh societies. Otherwise you possibly can pick a location that would be relatively more serene and less chaotic, in order to get away from the hustle and bustle of city life. You can also opt for locations maintained by above average standards or can go for a cosmopolitan environment.

5. Budget:
It is advisable to discuss the funds with your banker, if you wish to buy the flat on loan. You should also discuss with your real estate agents about the EMI facility if that is available.

6. Family and Children:
In case you are married with children, you might want to think about as to where the place of work of your spouse and schools of kids are located? Answer to this issue may need you to broaden your search to get a better location.

7. Appreciation: It is worth noticing a simple point that the value of an apartment appreciates when significant progress happens in and around the chunk of property where it is located. This is often quite obvious when you start considering why certain locations are too expensive and why particular locations are generally underpriced? Choose the areas which in recent times have witnessed substantial appreciation in prices. That area can be an excellent choice for investment.