Sounds scary but true, the real estate market is like any other market where if you are not cautious, you might end up losing your lifetime savings and losing hope of realizing your biggest dream of owning a home. So it is important to be a wise buyer do your homework well before cracking your deal. Following are some tips to help you buy premium flats in Mangalore or anywhere else:
1. Understand Real Estate Trends:
Buy a home whenever you have accumulated sufficient funds to initiate the deal, but make sure you understand the property market trend at that point in time. There are times when purchasing properties is beneficial because prices are stable and expected to rise in near future hence increasing the value of your asset soon. So this is the best time for investment. But there are phases when the prices are rising or often expected to decrease shortly, that is when you must hold on to your plans for a while and wait for prices to decrease. This happens when the real estate market is flooded with new options and rate of vacancy becomes intolerable by the market players.
2. Invest in Trusted Projects:
Invest in reputed projects constructed by trusted brands like Brigade Pinnacle etc. This will ensure good value for money you are investing with respect to quality of living, quality of workmanship, reduced maintenance, additional amenities, etc. Buyers are often ditched by the independent builders who use sub-standard construction material and low quality workmanship to earn higher profits and hence the owner faces lot of maintenance issues later.
3. Trust Your Own Survey:
Start your search online to see the reviews of other home buyers. Next step is the field survey – visit the residential projects you have shortlisted online and see which townships are better and which need to be ruled out of your list. Step 3 is to interact with authorities to know the price and other costs associated to living here, the benefits residents can enjoy, and weigh the pros and cons on your scale of preferences and necessities. Check out the flats in Derebail, Falnir, Attavar, Lalbagh, etc. to understand which areas are more suitable to you.
4. Get Documents Crossed Checked:
No matter you need a loan or not, apply a small loan from a government bank because bank verification is very authentic. They verify every detail of both the parties before they sanction the loan hence, it can be relied upon. If you don’t want to go about this way, get your documents and deal details checked by government authorities and field experts which can be a little tedious but worth taking the pain. This will ensure you not investing in the wrong asset. There are ample number of available flats in Mangalore, so, if one choice does not seem trustworthy, check the others but invest only in safe properties.
5. Lawyer:
Keep a property expert or a lawyer involved while signing your sale agreement. Go through all the clauses carefully and make sure they are not in conflict with each other and they do not even challenge owners’ rights. When you are satisfied with the formalities, sign the agreement and complete post-sale necessities like transferring the electricity and water meters in your name, reserving the parking slot for your car, checking security like, cameras at home, in corridors, guards, grilling, and setting up of interiors to your choice.
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