Buying a house in Chennai? Here is your checklist
If you sift through the bucket list of the average working-class citizen, you’ll find the entry “Buy a house of my own in the city” in most of them. On paper, it might sound like a simple task. All one has to do is to zero in on the perfect property, lock it down and move in, right?
The reality, however, is that house-hunting in a big city like Chennai involves far more factors than meets the eye. It’s an intricate game of careful planning and execution that can be daunting to people who set out in earnest to realize this dream. Whether you’re looking for standard 2BHKs or luxury apartments in Chennai, there exists a set of guidelines that streamline the house-hunting process and help avoid hassles in the process.
Before setting out to buy your dream home, make sure you’ve covered at least the majority of entries in this checklist. Buying a house is a lifetime investment, and a well-thought-out approach makes the difference between a good buy and a great buy. Let’s get into it. Please note that the below pointers apply for buying a home. For rentals, the guidelines would vary slightly.
#1. Needs vs Wants:
Before actively beginning your search for a house to buy, establish clearly what you need from your new home and what you want from it. As you list them out, you’ll realize that certain factors will be non-negotiable, while you’re willing to compromise on others. For example, you might need a 3BHK home that is close to your workplace, but willing to forego other recreational amenities like a gym or swimming pool. Most luxury flats for sale in Chennai these days provide a right balance of facilities, keeping both needs and wants of house hunters in mind.
#2. Real estate research:
Once you have your requirements sorted, don’t immediately filter out properties that come your way first. Do your background checks on the current real estate scenario in Chennai before approaching promoters. Which Chennai area offers the most land value? Which developers are renowned in the city for their projects? The answers to these questions can be found by digging online and asking contacts that are knowledgeable on the matter. Chennai is a rapidly expanding city, with apartments in Porur and other areas being hot property. This research will keep you updated and bring you clarity on what to expect when buying your home.
Though it’s usually not feasible to devote all your time to house hunting, try to get things done in person. If you find a property that caught your eye, go and check it out in person. Ask the people in the area about the pros and cons of the property. Make sure you check out all the necessary amenities like water supply and cell reception personally, as inquiries over the phone can result in answers that gloss over these things. Tallest residential building in Chennai? It’s best to go and confirm that in person. Seeing is believing, and real estate is no exception to this.
#4. The Fine Print:
If you’re leaning towards a particular property, make sure that everything on offer is authentic and according to the protocol, legal and otherwise. Are the flat layout and floor plan in place? Is the property RERA approved? Let’s say you’re scouting upcoming apartments at Perambur. Given that it’s a developing neighbourhood have they provided all the tech-specs of the flats?
You must check this off the list before locking down a property as it saves you from a world of complications that could arise from neglecting it.
#5. The Connectivity Property:
What is around your flat is just as important as what is in your flat. In Chennai, staying connected is everything. How far is the nearest supermarket? Can I access the metro from here? A good rule of thumb is that the further away it is from the city, the more critical the connectivity. This is why new apartments for sale in Porur and other outer areas take care to provide excellent connectivity to the city.
#6. Fiscals & Financials:
The financial aspects of buying a home would require a separate article for an in-depth analysis. However, the first step is to take stock of the situation at hand. This stands true, especially if you’re considering luxury apartments in Chennai. While they bring premium amenities, they are also priced towards the higher end of the real estate spectrum. Is the price right for the facilities on offer? How can I get the most value for the money I’m investing?
When it comes to home loans, it’s always best to have your credentials and particulars in order before applying for one. Most importantly, never bite off more than you can chew. If the financials of your new home’s acquisition is a ship, then as the captain, you must always stay at the wheel and in control of it.
#7. Pro at the Process:
It’s well-known that once a house is finalized, the paperwork process follows suit. While it seems tedious and long-drawn, the trick is to always stay one step ahead of the process, staying updated on what to have ready so that the paperwork can be completed smoothly. Read up on all the particulars required and the formalities involved, so that you know what to expect. Also, nobody can try and mislead you if you know what you’re dealing with.
After the final set of procedures, you should be all set for the big move to your dream home! If you follow the pointers mentioned above, the journey to getting the keys to your new abode should have been smooth. There’s no order as such, but do ensure that you try and cover all the steps to be taken. Whether you’re looking for budget or luxury apartments in Chennai, this checklist should have you covered. Happy hunting!