Demystifying the art of buying a house

Posted by jahnavi on January 24th, 2019

2BHK or 3BHK? Small flat at a prime location or a big house at an upcoming area? Under construction vs. ready to move-in? There are some of the questions which grapple the minds of most of the home buyers. While there is no perfect guideline which suits all but you could consider the following aspects while deciding.

• Purpose of renting: If you are buying a house for the purpose of renting then optimize for location. Choose areas which are in the heart of the city. Flats which bring lots of utility like 2BHKs, or smaller 3BHKs will move faster due to less overall payout by the prospective tenants

• Purpose of investment: If you are buying a property for the sole purpose of exiting then you have to buy the property in the very early stage of construction. Also be mindful of the location and design of the flat or house. Someone who is going to pay a premium to you (your profit ) will not want to compromise on a lot of things.

• Purpose of staying: If you are buying a house for your consumption, then there are lots of other things to consider.

o   If you are early in your career and not yet having a family then it is okay to buy a bigger house away from the prime areas. The development will catch-up in those areas. You can afford a bigger house which can meet the requirements of the future.

o   If you are in the middle of your career and having a family then optimize for areas which provide good education facilities and environment to your kids. Stay close to city centres if possible or areas which are easily accessible. Though it depends on one’s budget but see if you can buy anything more than a 2BHK.

o   If you are at the end of your career and kids moving out soon, then optimize for comfort. You won't need a big house as kids will soon be moving out and also managing a big house at your age is a hassle. You should see a place which has great accessibility to hospitals, good and peaceful neighborhoods.

o   If you are looking for a retirement home, then ensure you don’t buy a too big a house which brings a lot of hassle. Ensure it has good open space and accessibility so that your family members can reach.

Hyderabad is a unique place which can provide all the above-said options within a radius of 4-5 km. You can choose projects as per your budget and motivations. There are 4BHK flats for sale in Hyderabad which can help you nurture your big family or you can spend your time peacefully in some of the most vibrant gated community apartments in Hyderabad.