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Lessons and Experiences while buying/scouting for a dream home

Discussion in 'Housing' started by charmingpooh, Jul 6, 2010.

  1. charmingpooh

    charmingpooh Bronze IL'ite

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    Hi all

    Please post your experiences while buying a flat. do's and dont's which will be helpful to others. this is a big investment.so your ideas will be useful to somone.



    Note: Let us all use this thread, to discuss what factors you considered, what were the things that made you refrain, what went wrong..why you chose a particular project over another if you want to add more details too.
     
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  2. gboomba

    gboomba New IL'ite

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    Re: Lessons Learnt while buying a flat

    Rule 1. Do your ground work (decide on what you need and where you need it, plan your budget)

    Rule 2. The most important Rule - 'ACT FAST'. Don't waste time by excessive thinking

    Rule 3. 'ACT FAST' :)
     
    Last edited: Jul 13, 2010
  3. charmingpooh

    charmingpooh Bronze IL'ite

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    Re: Lessons Learnt while buying a flat

    Thanks for the points..:thumbsup
     
  4. Mythraeyi

    Mythraeyi Silver IL'ite

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    Re: Lessons Learnt while buying a flat

    If you are buying a flat that is yet to be constructed / partially constructed make sure that the finishing, materials used etc will be the same as the model apartment. Builders usually feature premium finishes in the model apt and offer lesser quality in the actual apt - or you have to pay more.

    Also inquire about the square feet, individual room dimensions of the specific flat you are buying - they vary from model to model.
     
  5. charmingpooh

    charmingpooh Bronze IL'ite

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    Re: Lessons Learnt while buying a flat

    thank you very much.After getting some more replies (hope so) i am planning to combine all and make it as points that will be useful for someone(me too) looking for a flat.
     
  6. aparnag

    aparnag Platinum IL'ite

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    Re: Lessons Learnt while buying a flat

    one big lesson i learnt never book a flat waiting for approval.
    we booked a flat in ISHA YARA -MEDAVAKKAM nad now we r seeing more changes in plan and entire layout..
     
  7. delaw

    delaw New IL'ite

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    Re: Lessons Learnt while buying a flat

    1) Go only with reputed or somewhat known builders, but make sure they are not overcharging with their goodwill in market. Make sure you get your penny's worth in value asset and not in a builder's name (sometimes it too helps)
    2) Ask them for the approvals for land and building as per plan
    3) Check EB, Water connections and drainage (if a big community - STP and its location)
    4) If you are bit more technical - check the plumbings too...
    5) Also make sure the builder do not have encumberance or issues with your future neighbours during building these flats.
    6) Road/rail Connectivity, car parking and other functional items in and around your flats
    7) Any other things which you might feel/think will be an hindrance in future after occupying the flats or will disturb your peaceful stay in the flat....raise it immediately with the builder and find solution.
     
  8. radsahana

    radsahana Silver IL'ite

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    Re: Lessons Learnt while buying a flat

    hi

    Actually measure the square feet. Bcoz one of my friends did that, and found out 10-15 square feet less, and then he got further bargain.

    Take tape from home and measure literally there before buying.
     
  9. charmingpooh

    charmingpooh Bronze IL'ite

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    Re: Lessons Learnt while buying a flat

    thanks for your tips delaw and radsahana..
     
  10. naanvetti

    naanvetti Senior IL'ite

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    Questions on how to find projects/builders

    Hi All,

    Need your valuable inputs please. I stay in the US, would like buy an apt in chennai. Most of my friends/siblings who are investing are in cities other than chennai. So its kinda difficult to seek help. And posting my questions to you experts here.

    - How do you research for places? I mean, being abroad how do some of you manage to find projects/builders? I use the website magicbricks. Can you share other sources you all use?
    - Also, my hubby and I are a bit particular about living in alwarpet/mylapore/velachery. Are there any new projects coming up there? How do you find out?
    - Though we are bit flexible with the property rates, I am trying to fix a budget based on the locality.For velachery main rd, would 4k-5k be an ideal rate? And for mylapore/alwarpet how much do you think it will be?
    - I am hesistant to buy homes without seeing it. Having said that, would like to hear from you all who have booked apartments without seeing it. Were there any surprises? What is the challenge you faced?
    - Also, only for investment sake do you think kelamabakkam lands would be a good option? A month back, I found one for 10L/ground. I dont know how far it is from the main rd etc. But, wasnt sure if its even a good idea to invest in this area.

    I looked but did not find answers to my questions in this section. Incase they are already answered, please give me the reference.

    THANKS ALL!!!
     

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