End Users:
Check out MagicBricks Neighbourhoods.
time, whether the past users are happy with the quality of construction and services, who will manage the property in the long term and whether the developer is part of a network such as CREDAI which brings in a little more accountability to his profile.
it difficult to meet the EMIs. (Check out our chapter on Managing Finance).
Locality profile:
If you are buying for self use, it has to be where you would like to stay in the long term. The profile of other buyers and the neighbourhood, facilities and amenities that come with it, future infrastructure projects in the area, transport connectivity and state of roads are all issues you would want to find out before you buy. Each of these affect the quality of your stay and also determines the price that you have to pay. If you are buying for future use, you will be able to compute the profile of the neighbourhood into the future.Check out MagicBricks Neighbourhoods.
Stage of construction:
A new property can be purchased at three stages – At launch, mid-way through construction and at the possession stage. Old properties can be purchased either in as-is condition, requiring maintenance and repair before use or renovated or redeveloped and ready-to-use. If you are currently staying in a rented accommodation, you may want to invest in a property that is ready for possession soon or you will have the burden of the rental outflow as well as the EMI on your housing loan.Buying closer to possession entails a higher value than at launch but being an end user balance the pros and cons.
Developer:
You need to check out the past track record of the developer. If he has been giving possession ontime, whether the past users are happy with the quality of construction and services, who will manage the property in the long term and whether the developer is part of a network such as CREDAI which brings in a little more accountability to his profile.
Price Bracket:
Your monthly EMI should not exceed 40 per cent of your monthly pay packet or you will findit difficult to meet the EMIs. (Check out our chapter on Managing Finance).
