- 7696551555
- peoplespropertypoint@gmail.com
Looking for the ideal property is thrilling, but finding two that interest you equally may be tough. While one will be situated in a nicer location, the other will be offering more space. While one will fit your budget, the latter will promise better resale.
So, what should you do?
The best thing to do in such a situation is not to make a decision at first glance. Instead, evaluate both properties based on the same criteria, which will help you determine the better one.
Here is how you can do that.
The kitchen can be renovated. But it is impossible to change the location of your property.
First of all, compare the location of both properties. Pay attention to how far the properties are located from your office, schools, hospitals, shopping centres, and highways.
Also consider the general convenience of the area.
Think about the following questions:
Tip: Try to visit both properties at different times of the day. The level of traffic and noise can differ a lot.
Just because an area is large does not make it better.
Compare two houses, based on their carpet area and the space that you can use, not based on the total area advertised in the ad.
Visualise walking into the two properties and visualise living in them.
Will your furniture fit comfortably? Do the bedrooms work for you? Is there adequate storage space? How is the layout of the kitchen?
It may be true that a smaller house will feel bigger than a large house when its room layouts are good.
This is where most people make mistakes while purchasing their property.
Never judge any property on the basis of its selling price alone.
For instance, if you have two properties for sale – Property A for ₹80 lakhs and Property B for ₹85 lakhs, Property A seems to be the more economical one.
However, consider Property A, which requires a renovation charge of ₹5 lakhs.
Similarly, Property A might have high maintenance costs.
Consider the total cost of purchasing the property, which includes the following:
The economically priced property may not always be the best choice.
The property may appear ideal during a quick inspection. Make sure to check before making an offer.
Make sure to check the state of walls, ceilings, floors, doors, windows, fittings of plumbing and electrical systems.
Make sure there are no signs of:
If you are looking at the resale property, make sure to find out more about the past maintenance work done and the age of the installations.
Do not allow the recent painting job to cover up possible issues.
A swimming pool, fitness centre, recreation club, and landscape garden may seem to make your property desirable.
However, consider the following question:
Would I really use them?
Rather than counting facilities, evaluate the quality and maintenance costs involved in keeping them up.
The property with fewer facilities and lower maintenance costs will likely be a better choice than the one with many facilities that go unused.
This is a topic on which you can never afford to cut corners.
Before making any offers, do the legal checks on the ownership and the papers of the property. Depending upon the nature of the property, the papers could include title papers, approvals, taxes, encumbrances, and RERA details as required.
In case of resale, you must ensure that the owner has the legal authority to sell his/her property.
If you do not feel confident enough in doing your homework on the property papers, consult a professional property lawyer.
Looks of the property will not get you anywhere if its papers are not in order.
The property that you are buying may only be intended for your present use but it should be considered from the perspective of the future as well.
Consider what property is more likely to retain its desirability in the future.
Some considerations include:
The most helpful information regarding properties does not necessarily come from the seller or the listing.
It is more likely to come from those who are living there.
If at all it can be arranged, try to talk to the resident or the neighbour.
Here are some questions that could help:
A simple five-minute talk with the resident can uncover things that you cannot discover through the property itself.
This is critical.
When location is highly valuable to you, assign it more value than amenities.
If you are purchasing for investment purposes, then resellability and rental demand may be more important.
The best property will be the one that aligns with your preferences.
Suppose that both properties were to become available at the same price.
Which one would you buy?
Your answer will be an indication of what you truly care about.
Now ask yourself why you made this choice.
Was it the location? The floor plan? The neighbourhood? The condition?
This answer could tell you if the lower price or extra feature of the other property makes up for your choice.
The comparison of properties could get easier when there is someone who knows the ins and outs of the local market.
People’s Property Point assists buyers in finding property options throughout Zirakpur, Mohali, Panchkula and Chandigarh. It is involved in residential, commercial and agricultural properties and provides property options according to the needs of the customers.
Whether you need to find a flat, villa, plot or other kind of property, some professional advice could assist you in comparing the location, property options and pricing of the property.
If you are looking for a property in the region of Chandigarh Tricity, then you could try out People’s Property Point.
Contact Details
Phone Number: +917696551555
Email: peoplespropertypoint@gmail.com
Office: #15, Opposite Dadoo Dairy, M.S. Enclave, Dhakoli, Zirakpur, Punjab
But before you start the negotiations, you’d better verify whether:
1. The property meets your financial conditions?
Do not overload your budget simply because you like the property.
2. You have examined all the documents?
Check that there are no visible legal or other issues with the property.
3. You have estimated other expenses?
The registration, brokerage, restoration, and maintenance costs should be taken into account.
4. Have you visited the area at least twice?
It is always better to be sure and not miss anything.
5. Do you like the property among the rest?
Then the chances are that you are making a logical decision.
Deciding on which one of the two properties to go for need not be a source of stress.
Rather than asking yourself the question “Which property is prettier?”, ask yourself “Which property makes more sense to me?”
Compare the location, cost, livable area, condition, legality, maintenance, and potential of each of the two properties. Think about which of the two suits you.
Don’t rush to make an offer. An hour spent researching could mean many years of satisfaction.
Location, price, size, quality, amenities, legality, cost of maintenance, and future prospects of both properties.
Both are equally important, but the latter gets more importance because it influences future saleability and convenience.
Yes, a property inspection can throw light on some aspects like dampness, structural damage, etc.
The former should be considered as it gives the actual usable area of the property.
Simply make a scorecard for comparison between the two properties.
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