9 Crucial Things to Consider When Buying a House in Hyderabad
For most of us, investing in a new house or a flat is one of the most important decisions in our lives. It is usually also the first major financial decision we undertake, not simply for the convenience of owning a house but for even the very emotional reason of providing a loving home for our families. Children growing up need their own space too, and we try to overlook some of the things that will save you a lot of time and effort.
We at NearEstate understand how emotional this time can be for you. I have been in the same situation for a long time, so I remember the frustration of going through countless real estate portals, realty websites, classifieds, talking to everyone we come across, visiting all kinds of neighbourhoods. But remember, it is during this time that you have to consider things very carefully before jumping into the purchase. For your benefit, we are listing down a few things that will help you get the best deal on real estate in Hyderabad.
- Financial Aspects
The first place to start is your bank. Be very clear about the financial burden you are capable of handling stress-free, with a realistic estimation of inflation and conservative estimation of financial progress. Also, speak to your bank about your eligibility to avail a loan. It is normal to be apprehensive during this process but the clearer you are at this stage, the easier it is through the loan journey.
Customers also worry about hidden charges and extra fees that they might have missed. Some of them mistrust real estate sellers due to negative publicity. Wouldn’t it be very helpful to speak to a LIVE person who will listen to you and suggest the best decision for you ON YOUR BEHALF? See how NearEstate answers your wish for a real solution to real estate!
The next step is to set your budget and start searching for the right property to invest in to build your dream home in Hyderabad.
- Property Details
After choosing a property, make sure that you independently verify the builder’s claims. It is very common for first-time homebuyers in Hyderabad to not be well-versed with terms like carpet area and build-up, etc. Plus, location is going to be one of the most important factors that will decide your future happiness as well as the returns on your investment. Spend some time to visit the area at different times of the day to familiarise yourself with how the location functions. For example, water or electricity can be a problem in some areas but you wouldn’t find out without talking to the locals a few times.
You can also speak to NearEstate. We provide both digital and telephonic assistance on real estate solutions in Hyderabad. For those who are buying a residential property in Hyderabad can speak to a relationship manager who will answer all your questions regarding our property, the procedure, and help evaluate the best options for YOU!
- Property/ Land Records
Most first-time home buyers ignore checking the property record on which their apartment is being built. You should always check the quality of the soil as well as the topography of the land. There are multiple resources available online to help you.
Verify that the land is clear of all dues and has been registered. You should also verify the title deed and ensure that even the details are perfectly correct. This deed is important to understand the rights, ownership, and obligations of and towards the property on the land on which the apartment is built.
- Legal and Compliance
These days it is important to make sure that the land on which the apartments are being constructed is legally authorised. Speak to the developer to get the details of approvals and NOCs from area development authorities, water department, utilities, and the Municipal corporation. The bank will verify these details when approving your loan, but you can make doubly sure that your property will be legally compliant on all matters.
- Delivery Timelines
First-time homebuyers are afraid of the delays that they hear from other real estate development projects in Hyderabad. Ensure that you have a clear delivery plan for pre-planned milestones and for the final possession. Of course, it is normal for real estate projects to get delayed for a few months due to on-the-ground situations. The important thing is to invest with trusted real estate developers in Hyderabad who have a reputation for timely deliveries.
You can also check out the independently verified properties listed on NearEstate. You can browse the properties here <link>, or speak to a relationship manager who can help you with any questions you may have here <link>.
- The Search can take longer than you think
The process of searching for a home can be longer than you estimate. The important thing is that you should be able to see the potential of living a happy life there. So even if it takes longer, you should be willing to put in the time necessary to choose the completely right place for you to invest in building a dream home in Hyderabad.
You can speak to a NearEstate executive here<link> who would love to understand your home purchase requirements in Hyderabad.
- Features and Amenities
Real estate developers promise a lot of amenities and features which may end up differently in real life. However, in most of the residential apartments in Hyderabad, these amenities and features are delivered as advertised. With Telangana RERA, homebuyers are assured of what they are promised.
Read about RERA here<RERA article link>
- Safety and Security
New buildings tend to be better in upcoming areas where infrastructure isn’t too good. Without proper roads or streetlights, it can be a headache once you move into the house. However, usually, development does take place quickly in Hyderabad, so you can just verify the developer’s claims regarding new roads or infrastructure.
- The Builder-Buyer agreement
Please read all the documents carefully to ensure that you haven’t missed any details. You should also familiarise yourself with your rights and obligations here <http://rera.telangana.gov.in/Home/Index> . Knowledge is the best ingredient for the right solution.
This is exactly why we started Near Estate. The process of buying a home is such an emotional one for so many people, but it can be quite intimidating too.
So we made the process entirely simple. We understand that you would like a helping hand in going through the formalities of owning a home. Not just discussing a particular property, but any property that will be the right place to your dream home in Hyderabad, we will help you find it. With NearEstate, you can be sure that your joy of owning a house will be protected by professionals.