When it comes to buying luxury apartments in 2022, there is no dearth of choices. The Chennai property market has been flooded with luxury projects in all areas and it can get quite difficult to make up your mind.
Let’s check out a few tips to make this process easier.
List your requirements
You could be looking for a house for yourself or just as an investment to rent out. What would be the size and where do you want it to be located. The process of home buying comes with endless questions that round out your requirements. Only when you are sure of what you need, you can narrow down your search and thereby make the next step so much easier.
Do your research
Everyone has access to the internet today. You can start off with a basic google search of luxury apartments in 2022. It will give you a list of both completed and ongoing projects. This process can get time-consuming and exhausting but it is very very necessary. This research will help you clarify your own requirements as new information makes you revaluate your choices. There are plenty of factors to keep an eye out for including location, amenities, access to facilities, price, appreciation, etc. The area must be safe for women and children so you can safely situate your family there. You need to pick the project that satisfies all this while remaining within your budget.
Visit the property:
The websites and links will have photos and graphic images of the properties. They will look appealing coz they are designed to look that way. They are not a true representation of the project’s surroundings. It is vital that you make an actual site visit before making up your mind. A site visit helps you understand the layout of the property, its proximity to the advertised facilities, the orientation of the homes, how safe the area and premises are. Physical visits to ongoing projects also help you understand the quality of the construction better. Visiting completed projects helps you understand the scale and usability of the advertised amenities. You can ensure you are getting your money’s worth.
Verify the circle rates
Always cross-check if the prices listed by the developer are on par with the circle rates for that area and match the rates of other nearby residential projects. The luxury apartments in Chennai for 2022 are listed at competitive prices thanks to the lockdown. But verifying it will assure you that you are paying the right price. This also gives you negotiating power in case the developer is charging way over the acceptable rate.
Develop a strong financial history
It is necessary to have a strong financial history to buy a home. It will require taking a home loan and your eligibility and the final approved loan value depends on your income and financial behaviour that impact your credit score. The lenders will first look up your credit score and process your application based on it. Have an accountant look through your records and help you figure out how to improve them. This is crucial in identifying wasteful expenses, bad records of repayments in previous loans, ways to save on taxes, etc. all of which will help you secure a good deal on the home loan, as well as prepare you for the down payment.
Lifestyle Housing is a reputed developer of luxury flats in Chennai. We offer high-end homes in premium locations. Our latest project is luxury flats in Porur, equipped with all the amenities necessary for a comfortable life. Our real estate experts can help you understand your own requirements and then guide you to the perfect property for you.