Buying a home is a meaningful investment and involves the financial planning of a lifetime for an average mid-income household. A wise decision is only possible with in-depth market research and a refined understanding of location and developer reputation. Various factors come to play while deciding to buy a new abode; these include the return on investment, quality of amenities offered, and many more.
There are six critical factors that one must consider before buying a house in city-like Mumbai.
On Time Possession:
Most homebuyers take a loan to purchase their dream home. With an early possession of the house, the homebuyer saves on rent and reduces costs. Timely completion of the project is an essential aspect to be considered while purchasing a home. It is seen that reputed and experienced builders have their Cashflows, Systems and processes in place to complete the projects on or before time. The likelihood of getting possession of a ready flat on time is higher in the case of a reputed developer.
Most homebuyers buy properties with the assurance that they must get a good return on investment in case they intend to earn a rental income. The real estate brand that they choose can work in their favour in such times. Investors tend to get higher rent on gated communities that are developed and maintained by a reputed developer. A real estate project located in a popular area with seamless connectivity is supposed to offer a better ROI with a reputed brand.
Collaboration with reputed partners:
Considering the focus on quality and design, reputed developers tend to partner with Grade Architects, Contractors, and Design Consultants to ensure the project is delivered as par with international standards. With consumers, preference shifting towards homes that are functional and spacious with clutter-free designs, renowned and experienced partners play a pivotal role in creating the finest layouts in designing a home.
The potential homebuyers’ decisions are based on the latest trends, quality, convenience, overall well-being, and above all, value for money. All these factors can be offered only by an established developer in collaboration with renowned partners.
Focus on quality:
Projects by established developers usually emphasize on quality and durability. Reputed developers have multiple checkpoints at every stage of construction to ensure the highest quality is maintained during the delivery. From the beginning of construction until the handover of the apartment, the developer leaves no stone unturned with their reputation at stake.
With work from home in vogue, it has become important for consumers to pay extra attention towards the amenities that are offered along with their apartment of choice. A reputed developer not only offers these amenities but also ensures that these are maintained well. Developers with an excellent reputation are known for offering homes with advanced facilities such as an infinity pool, fitness centre, spa, co-working spaces, multi-purpose rooms, amongst others, everything that matches the requirements of new-age homebuyers.
Higher appreciation and resale value:
Established developers garner goodwill from their customers based on market reputation, and evidently, their projects have a higher resale value. Investors also typically trust a renowned developer when it comes to under-construction projects.
COVID-19 has drastically changed the preferences of individuals while buying a home. All the above factors establish that one should trust reputed and established developers while purchasing their dream homes
As a company Piramal Realty has consistently set gold standards in customer-centricity. We have always envisioned fulfilling the dreams of homebuyers by customizing one-of-a-kind schemes catering to their needs.