Ideas Considered By Indian Minds When Buying Property

Sep 16, 2014 by

Buying a property is a huge decision for any person; especially if they are going to shift in that place for living. It has a legal, financial, social as well as family criteria involved. Indians are big on saving and usually like to save money for such investments. Hence, they want value for money and might have plenty ideas and thoughts in their mind whilst purchasing a new property.

 Ideas Considered By Indian Minds When Buying Property

Some of these thoughts could be about –

The financial aspect

It is the biggest factor in Indian minds when purchasing a property. They need to judge their financial capacity and how much are they willing to spend on that property. Will they have to take a loan and what would the EMI be like and can they afford it. Also, if they are using brokerage services, what will his fee be like? They also consider the maintenance charges to be paid monthly.

Location aspect

Even the location of the property and what is the probability and speed at which it will appreciate play a major role in their decision. Whether the property is surrounded by slums, industries or is in a pollution free zone?

Timeliness

Real estate market is unpredictable and can fluctuate. They might like a property but not buy it thinking that the prices will fall or they might want to quickly invest in property fearing a price rise. They might also consider if the builder is genuine and has a good reputation in the market.

Amenities provided

The amenities provided by the society like gymnasium, elevator, parking, garden, swimming pool and intercoms play an important role in the decision. Also a flat must have proper water supply, drainage arrangements, electrical and cable management.

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