All set to buy that dream home?

Trends

All set to buy that dream home?

For first-time buyers of apartments in Bangalore, geographical location seems to score over other priorities, with customers zeroing in on the locality before looking at other criteria. Amenities such as  swimming pool and club house, much sought after a few years ago, are only a bonus. Buyers now are particularly security conscious, and have also started looking at apartment complexes as community centres which can offer a cultural and social life. 

Some couples tell us what went into their hunt for an apartment.

When did they decide to buy an apartment?
Buyers prefer to be on sound financial footing before going in for a purchase, although this does not preclude a bank loan. The safety of living in an apartment block, with a round-the-clock security system, is another reason for shifting from an independent house to one’s own apartment for good.

For entrepreneur Harish Kumar M, it was his approaching wedding coupled with his savings that propelled him into hunting for a “secure place to live in within the city”. 

Security matters
With chartered accountant Shamsunder K and wife Bharathi, long-time security concerns made him look for an apartment, both as an investment and as a place to live permanently.

Echoing similar sentiments are software professional Vijaykumar R and his wife D Sharadha, it was their ability to afford that made them plump for a flat—a larger condominium at that—besides security aspects and the need for a social life literally within the confines of the building complex.  

Going about the search
Newspaper advertisements are of great help in creating awareness on availability of different kinds of apartments in the city, say the couples.

Scattered hoardings and realty exhibitions are also eye-openers, but the decisive factor is the “networking with friends who have already bought apartments”, as this gives them a fair picture of what to expect of the builder overall.

With Sharadha, the preference was to buy an apartment from the builder in whose complex she was staying on rental because “we knew what would go into it”.
Shamsunder wanted a complex with at least two score flats to ensure a “community life” as going out for socialising is no longer “practical”, what with distances, traffic hurdles, and time constraints. References from friends helped Harish Kumar decide on the builder, without having to do too much of spadework. 

What did the buyers look for?
Reputation of the builder, competitive prices, spacious flats of at least 1,500 sq. ft, play area for children, gym, schools in the vicinity, sound security arrangements, and well-ventilated units are important factors, with other amenities such as walkway, landscaping, swimming pool, sauna, club house etc being of little consequence as the deciding factors.

Materials used such as floor tiles and bathroom fixtures, lighting in common use areas, and proximity to work place, came next in the list of priorities, as buyers were looking at their flats as their permanent residence.

“A gated community offers much safety, and is very important even for housewives,”says Harish Kumar’s wife, Amita, which is a sentiment echoed by the other couples.  
A look into the builder’s track record was an indication of the standard of construction and what could be expected, although big names by themselves did not automatically interest the buyer.

Budgeting, security, and social aspects are the main issues while looking for a flat.
“Although these are the basic configurations to be worked out, general aesthetics, closeness to hospitals, and greenery among others are aspects that will make life more comfortable and convenient”, says Shamsunder.

Their advice to first-time buyers is a chorus: 

Read through all the documents and have it checked by a lawyer even while buying an apartment, because there is so much of illegalities and under-hand dealings in land issues.

Don’t be carried away by the promises made in glossy brochures —get to the bottom of what actually will be delivered.

“Don’t attach much importance to the amenities of the complex. Accessibility in terms of location is of paramount importance”, says Sharadha, for whom an airy apartment with sunlight coming in, superior security facilities, and central location were the factors that would prove to be important in the long run. 

“Have the builder put in writing whatever he promises, because they seldom stick to the promises they make.

“Supervising during construction helps to ensure quality, as builders tend to outsource contracts, which puts quality is at a discount, and there is no accountability. Things look good initially, but start wearing away in no time.

“One has to monitor the construction for details such as sanitary and light fixtures, wood work, and even painting.

“Loans from nationalised banks are preferable despite long-drawn procedures, as there could be hidden charges in other banks.

Evaluate all options before deciding,” warns Harish Kumar.

For Bharathi too the sum total of the overall advantages is what counts “as other amenities and features such as shopping mall etc” are dispensable.  

 WHAT YOU CAN LEARN FROM THEM

* Don’t be carried away by the promises made in glossy brochures — get to the bottom of what actually will be delivered. Don’t attach much importance to the amenities of the complex. Accessibility in terms of location is importanT.

* A look into the builder’s track record is an indication of the standard of construction and what can be expected, although big names by themselves do not automatically interest the buyer.

*Budgeting, security and social aspects are the main issues while looking for a flat. 

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry