Buying your first home!

Buying your own house is one of the landmark decisions you’ll take in your life. With rising property prices, shrinking carpet areas and increasing costs of living, it is a diligent choice that should be made keeping a lot of things in mind.

Price: Location v/s Area

As much as having your own house is important, having it at a location that is viable is an important consideration. Real Estate prices are heavily driven by the prominence of the location of the property. A good location doesn’t just guarantee convenience, but also a good return on your investment.

However, simply choosing a house based on its location may not be a good idea.  The cost of a property is also variable on the size or area of the house. Thus, if someone tells you that ‘you’ll not find a property at a better price in this location’, cross check all facts. He may be offering you a cubical for a house.

Never buy a property based on less than three factors: Primarily, Price, Location & Area.

Also, keep in mind that the Carpet Area is different than and less than the Built Up and Super Built up area. Ask for complete plan specs of the property you want to purchase, be it an Apartment, Row House or a Villa and make sure you understand them (You can seek advice from someone who has already bought property recently.

There may be other factors as well, that you can consider such as which floor is the house on? Which side do the balconies / windows face? What amenities can be availed within the society, what is the distance from the airport / railway station, as per your requirements.