Making an investment in top residential flats is a decision that holds immense significance in one’s life. It is an idea that you may have nurtured since a very young age and it involves years of saving and planning. Therefore, when it finally comes down to exploring best flats for sale, it is crucial to keep all possible points in mind before you pursue best flats for sale
1. Set a budget for the property price
It is important to have a fixed budget before looking for top residential flats. Compare the price of best flats for sale from various builders to get an idea if the builder has offered a genuine quotation. Additionally, check the price trends in the locality and do market research to get a fair idea about best flats for sale and the property’s value.
2. Check the flat’s carpet area
Carpet area is the actual area within the walls of the flat, which can be 30% lesser than the built-up area or the area used to calculate the price of the property. It is important to ask the builder for the carpet area and check the discrepancy between the carpet area and the built-up area. Also, check the common areas shared between the owners and their pricing.
3. Find EMI Using Home Loan Calculator
It is important to know the EMI (Equated Monthly Installments) before applying for a home loan to buy 2bhk 3bhk flats. The EMI can be calculated using various online home loan calculators, which help in understanding the loan amount, interest rates, and repayment schedule.
4. Verify the land record and title deed
The land on which the flat is built is crucial. Check the soil quality and topography of the land on which the house is constructed. Ensure that the plot is clear of all dues and is registered. Before buying the house, verify the title deed and check it in detail for all the details regarding ownership, rights, and obligations towards the property.
5. Ensure the property is legally authorised
Ensure that the property is legally authorised to be constructed on the plot it stands on. A developer should have approvals and NOCs from area development authorities, water and sewage boards, electricity boards, and the Municipal Corporation.Check if the property has any legal disputes or pending cases.
6.Estimate the timeline for possession
Possession of flats is often delayed owing to delay in commercial and residential plans. Before you make the decision to buy 2bhk 3bhk flats, have a clear estimate of the timeline for possession. Check the grace period provided by the developer and the reasons for the same.
7. Know the banks willing to finance the project
Check the banks that are willing or not willing to finance certain builders. Some banks refuse to lend to builders because of their bad reputations. So, it is important to check with the banks that are willing to fund the project you are planning to invest in.
8. Understand the builder-buyer agreement
Read the builder-buyer agreement in detail before signing it. Ensure that all the clauses are clearly understood, and any doubts should be raised at this point itself. Verify that all the promised amenities and features are mentioned in the agreement, and there are no hidden costs.
9. Analyse the location and amenities of the flat
Check the amenities, physical infrastructure, and reach to all the basic places like schools, hospitals, and markets around the area where you are planning to reside. Analyse the area’s safety and security to ensure a peaceful living before finalising any of the top luxury flats that you like.
10. Negotiate the price
Don’t be afraid to negotiate the price of top luxury flats. Research the market rates and try to negotiate a fair deal with the seller. It’s important to keep in mind that while you want to get the best price possible, you also want to make sure that the property is worth the amount you’re paying for it.
Explore a wide range of top residential flats, buy 2bhk 3bhk flats at Magic Bricks Infra Private Limited and make your dream home a reality. Contact us today to get expert guidance and assistance in finding top luxury flats.