Are you planning to buy an apartment in India? Congratulations on taking this significant step!
However, before making a decision, it's essential to ensure that you've covered all the necessary checks to avoid any surprises or regrets later on. In this post, we'll provide you with a detailed checklist of things to verify before buying an apartment in India.
Essential Items:
Interior:
1. Apartment cleanliness and safety
2. Ventilation and sunlight
3. Inspect walls of the unit closely for cracks and water leaks
4. Check plumbing
5. Number of elevators in the building
6. Check noise level (day and night)
7. Bug check (Bedbug, mosquitoes, lizards, Roaches, etc.)
8. Monthly maintenance fee (amount and what it covers)
9. Cellar/Ground Floor (presence and condition)
Exterior:
1. Decent road access
2. Car and Bike Parking (secure)
3. Electricity (stable)
4. Internet and cable access
5. Post office nearby
6. Banks nearby
7. Vegetable Market nearby
8. Clinic and Pharmacies nearby
9. Railway station, bus stand, and airport access
10. Online deliveries available
11. Borewell and metro water
12. Proximity to schools (if relevant)
13. Public transportation options
14. Nearby grocery stores or supermarkets
Nice to Have Items:
1. Trees and parks nearby
2. Lakes nearby
3. Temples nearby
4. Other amusement/entertainment options nearby
5. Recreational facilities (gym, pool, etc.)
6. Pet-friendliness (if applicable)
Here are some factors that affect the value of an apartment :
- Location: The neighborhood, proximity to amenities and local market conditions
- Age: The property's age compared to other properties in the area
- Size: The square footage and number of rooms
- Amenities: Features like a pool, garage or recent renovations
- Condition: The overall state of the property, including needed repairs
- Recent sales: The prices of comparable properties that have recently sold
- Current market trends: The balance between supply and demand in the local market
- Economy: The broader economy's impact on a person's ability to buy or sell a home.
- Interest rates: The impact of interest rates on affordability.
A house that has been on the market for a long time may not meet certain qualities that affect its value.
Remember, buying an apartment is a significant investment, and it's crucial to be thorough in your evaluation. By following this comprehensive checklist, you'll be well-prepared to make an informed decision and find your dream home in India!
