Important factors home buyers should consider while buying their dream home

Buying a home is a significant investment for most people, and with the growing demand for affordable and mid-segment housing units in India, it is essential to consider certain factors before making a purchase. Especially those who are buying their first home should take utmost care before taking they sign the sign the cheque for token amount.  

Location: The location of the property is crucial when buying a home. The area should be accessible and well-connected to the main city and other important areas like schools, hospitals, markets, and public transport. You should also consider the proximity of the property to your workplace, as it can have a significant impact on your daily commute and quality of life. Additionally, check the locality's safety and security measures, as you want to ensure that you and your family are secure. 

Amenities: The amenities provided in the housing complex are also important. Check if the complex has facilities like a gym, swimming pool, clubhouse, playground, and a community hall. These amenities can enhance your living experience and add value to your investment. However, keep in mind that the more amenities the complex has, the higher the maintenance cost may be. 

Builder Reputation: The reputation of the builder is a crucial factor in determining the quality of the property. Do your research on the builder's past projects, check for reviews and feedback from previous buyers, and see if they have delivered projects on time. It is essential to verify that the builder has all the necessary approvals and licenses from local authorities. A reputable builder with a good track record will ensure that your investment is secure and the property is of good quality. 

Size and Layout: When buying a home, size and layout are important considerations. Check the floor plan of the apartment and see if it suits your requirements. Consider the number of bedrooms, bathrooms, and the size of the living area. Also, check the amount of natural light and ventilation the apartment receives. Ensure that the apartment has sufficient storage space and that the layout is functional and maximizes the available space. 

Price and Payment Plans: Price is a significant factor when buying a home. Check the cost of the apartment, including any additional charges like registration fees, maintenance charges, and parking fees. Compare the prices of similar properties in the same locality to ensure that you are getting a fair deal. Additionally, check the payment plans offered by the builder. Some builders may offer attractive payment plans with flexible options that suit your budget and financial situation. 

Most people invest their lifelong savings to buy a home and also take-home loans to fund the shortfall. Therefore, it's essential to consider the above factors before making a purchase. By taking the time to do your research and due diligence, you can ensure that you make a wise investment that suits your requirements and enhances your quality of life. 

Views are personal. The author is Founder & Chairman, Signature Global (India) Ltd