Think before you deal

Looking for a home? Here are some steps to aid you clinch a deal. Sudha Kulkarni Sinha reports.

For most, owning a home is a fulfillment of a lifetime dream. Finding a home that suits your needs is a very personal experience because everyone has different tastes and needs. Here are a few guidelines you should adhere to before finalising a deal:

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Price, lifestyle, location and documents are a few important factors that are to be considered before deciding on the dream home.

To buy or build a new home is directly related to one's lifestyle. Narrow down your choice by deciding on the budget first.

Don't let your eyes get bigger than your wallet. Look for homes designed to suit your requirements.

Security, neighbourhood and open space are important yardsticks in deciding/ selecting a home.

Select the area where people of the same income group live.

Avoid heavy traffic areas and also check out the schools and other infrastructure in the surroundings.

Calculate the construction cost in case you want to renovate your home sometime later.

Check whether the financial institutions and the competent authorities have approved the project.

Look for a real estate consultant who enjoys a good reputation in the area.

Choose a consultant/ builder who has a dedicated housing loan cell and ensures that the loans are sanctioned and disbursed on time with minimum hassle.

Look out for the consultant/builder who has departments that look into matters like stamp duty and registration so that you don't have to run around to get these tasks done.

The consultant/ builders should be able to provide assistance in pre- and post-establishment activities like verification of documents, processing and registration of documents etc.

While negotiating take care of house tax, ground rent, water and electricity charges, security and maintenance charges etc.

The author is Director, Real Estate Manager Pvt. Ltd. and can be contacted at realestatemanager@hotmail.com