There aren’t any better investment opportunities than buying a property, and when that property is located in the city of Pune, which is flourishing and developing on an exponential rate with every passing day, such an opportunity is hard to pass. Pune has become a hub for major IT companies, due to its relatively low rates and lower cost of living when compared to the other metropolitan cities in India.
Handful of rules you must go through before buying a property in Pune.
1. Consult with an expert whether you can afford to pay for the property’s EMI:
If the monthly payments of the property’s result in a major dip in your cash inflow, and it is hard for you to save enough money for the down payment. Then go for a property in a relatively less posh area or start saving up for your dream house.
2. Decide your requirement:
Pune isn’t only an investment opportunity as a lot of youths and youngsters seem to be shifting from Mumbai to its less populated neighboring city. It was even placed along with Hyderabad as the best city to live in, in India in Mercer’s Quality of Living Ranking 2019. So decide whether you want to buy the property for self use, rent or investment.
Decide when do you plan on moving in:
If you are looking for a property for self-use, then check whether it is ready to move in, in case you are planning to move shortly. If you are planning on moving in the future, then check all the available properties and also check the builder’s past record and whether they deliver in time or is there any delay to prevent any discomfort, which may be caused.
Decide on the kind of property you want:
Pune has a plethora of options, when it comes to the different types of residential properties provided, for people from different strata of society. Are you looking for a lavish bungalow in the most premium locality? Or a 1BHK flat to buy in Pune, in a relatively cheaper one? They have it all.
Check rental options if you are looking for a temporary fix:
Are you not sure whether you’ll be able to accustom to Pune’s lifestyle and weather? Even though it is a happening place and you’ll fall in love with the city in no time. There must be some doubt in your mind, so you can check out the rental options if you are not planning on staying their permanently.
Where to buy the house:
Consider this to be a mathematical equation, whose answer can only be resolved once you find the value of certain variables like your budget, personal choice, and most importantly comfort. If you are looking for premium localities, then check out Koregaon Park, Kalyani Nagar, and Kothrud. Whereas, if you are looking for cheaper options, then check out Wakad, Hinjewadi, and Wagholi.
Visit the site:
It is a must, as it gives you a rough idea of the surroundings. Before, confirming the booking always check the site to ensure it has all the necessary luxuries and facilities that will be required by you if you plan on staying yourself. Ensure it is close to the highways if you plan on traveling on a daily basis.
Hire a Realtor or a House Hunter:
It isn’t a Rule as such but can benefit you a lot as they have the ability to provide quality support due to their experience in the field and the vast number of contacts. They can shortlist the options for you depending on your budget and requirements, thus making the process more efficient and streamlined.