Pune, in the recent times, has been attracting a number of homeowners from all over India. People often move to this little city to build a livelihood as the city of known to offer ample employment opportunities. Pune has numerous housing options, from 1 to 2BHK housing facilities to luxury apartments, and more. Moreover, despite the overall slowdown observed across other major cities, the real estate market in Pune has remained flexible due to high demand from the IT commercial sectors.
There are factors that need to be taken in account when purchasing residential properties in Pune. The type of property that one intends to buy will depend on the economic condition of the home buyer and the time he/she is planning to stay in the city. While this certainly does make for an essential aspect, there are multiple other factors that should be considered when buying flats in Pune.
Here are a few tips to keep in mind while buying a home in Pune:
Understand the purpose of buying the flat or apartment. Is it for self-use, renting out, resale or investment.
If you are planning on moving in, consider whether you will do so shortly or later in the future.
If you are planning to move out later, check the prevailing rental market to ascertain return on investment and not suffer a loss.
If you are buying a property for self-use, check if the social and physical infrastructure in the area meets your requirements.
Ensure structures like schools, colleges, transport facilities, and other daily essentials are placed within easy reach. Such property rates might be higher, but they offer convenience.
The location where the residential property is located in Pune is important. Pune’s areas such as Bavdhan and Mahalunge are prime spots and boast of many residential properties in Pune.
Before you make the down payment, check your home loan eligibility with banks.
Always consult with a property expert, to know more about the locality and for flexibility in buying and selling the property. Mostly, real estate developers do offer consulting facilities before you narrow down on the property.
Keep in mind the project completion status, whether it is in the initial or final construction stage.
Since you are investing a major part of their life’s savings into the home, as a home buyer you have every right to ask for detailed specifications including facilities, free modifications, any extra cost, and more. What is essential, however, is to document all of these discussions and insisting on the builder signing any exclusive deal.
A new home must be adequately furnished to make it comfortable for the occupants as well as the visitors. Some homeowners end up spending nearly the cost of the house itself in furnishing.
Buying a home is undoubtedly the most significant financial and lifestyle decision that you will make. A little research will help turn your dream into reality.