Buying Your First Apartment: 3 Things To Know

A property calls for a significant investment. If you are on your way to buying your first flat ever, it is imperative for you to take every step in the process with extreme care and cautiousness. A slight mistake can make your investment a bad one, compelling you to spend a major part of your life paying EMIs for the home loan you once took. If you are looking for a 3BHK apartment in Khargar, which is turning out to be one of the most preferred residential areas around Mumbai, you need to contact a recognized real estate organization. However, even with the assistance of an expert dealer, there are certain things you need to be careful about. Let’s take a look at these.

Understand the Difference between Super Area and Carpet Area

Well, you must come across these and many more such terms by now. One thing that you must know is that the real estate dealers always quote the super area of the flat. This measurement is considered for calculating the price of the property. While this is the standard norm, you should be aware that the actual floor area of the flat, that is, the carpet area is going to be slightly lesser or more specifically, 80% of the super area. The super area includes common spaces like the staircase, elevator space, etc. If a particular floor has 2 flats for instance, each owner will be required to shell out 50% of the value of these common spaces.

Do Not Trust the Sample Flat Completely

When you are just a few steps into the home buying process, the dealer will typically show you a sample flat within the same gated community in which you are planning to buy your flat. While this sample flat can give you a rough idea about the actual flat, it should not be trusted completely. Sample flats usually have higher ceilings and better finishing. In order to make sure that your flat exhibits the same qualities and more, you should inquire about each aspect and check out if there is any difference between what was proposed and what is being offered. Also, if there is anything that you don’t like in the sample flat, communicate it immediately to the dealer.

Check if the Real Estate Dealer has the Permits in Place

Many home buyers might not be aware but the fact that a potential home buyer has the right to check if the dealer has all the permits in place. In fact, in case of doubts regarding certain things, you can actually get it cross checked by your lawyer to ultimately ensure that you are moving in the right direction.

Keep these pointers in mind and go about buying one of the most precious possessions of your life, your home.

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