What Is The Step By Step Process For Buying An Apartment In Hyderabad?

What is the step by step process for buying an apartment in Hyderabad
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09:36 AM 07 Mar 2019

Every buyer dreams to buy a home with excellent facilities. 

Are you planning to buy an apartment in Hyderabad?

 You must follow a series of steps to buy a property that satisfies your needs. Therefore, we have arranged a series of steps as a guide to facilitate the task of buying the best house in Hyderabad.

Look at the step by step process for buying an apartment in Hyderabad.

Define the House You Are Looking For

  • Before starting to buy your dream home, you must be clear about your tastes and needs. 
  • A house is an expensive and long-term investment, so you should not search in a hurry without looking to the future.

Some of the most important characteristics that you must take into account are:

Area and Location of the Home:

You must think if you want to live in the centre of the city, in a residential neighbourhood, in the outskirts, near the children's school, close to work, or in a quiet urbanisation.

Type of Housing:

The type of house is dependent on the number of people living in your family.  The new couple prefers 1BHK apartments, the families with kids prefer 2BHK/3BHK flats in Hyderabad, and working couples prefer gated community apartments. If you live in a joint family, a big apartment is required according to your preference and lifestyle. List the type of house that suits your family, budget and lifestyle.

Characteristics of the Home:

Define the number of rooms you need, if you must have parking, storage, facing, quality of materials and other additional services such as the installation of air conditioning, heating, swimming pool, etc.

Find a home that combines all your current and future needs.

Budget You Have For the House

  • The price is surely the main factor that determines the purchase of a home.
  • After the selection of area, type of housing, facilities, etc. you must establish your budget for the purchase of the house.
  • Clear about the possibilities of access to financing that you have and know what annual expenses you can pay (community of neighbours, maintenance, insurance, etc.).
  • Buy a flat in Hyderabad that suits your budget.

Search for Housing

  • When you already have a clear idea of what house you are looking for and the price to pay for it.
  • Then begin to search for flats that suit your style.
  • Property Adviser, a real estate directory portal in Hyderabad made searching a home very easy and convenient to buyers.  
  • Go to specialised real estate advisory services to reach your dream home.

Define How Much You Can Afford

  • The price of the apartment is a crucial point in the buying process.
  • You have to know that apart from the cost of the property, there are other charges too.
  • The extra charges include stamp duty, registration fees, property tax, etc. define your plan to invest in a property.
  • Then pick the shortlisted properties and begin to evaluate their worth in the context of the selling price of the properties in the market.
  • Once you find a flat that fits your budget, begin to look for a bank that offers home loan at low-interest rates.

Visit the House

  • Before deciding on a property, it is essential to visit the home to know in detail about the house. 
  • In this visit, you will study if the distribution and characteristics fit with what you are looking for.
  • Paying attention to more information such as possible damages, doors and windows, floors, walls and paint, electrical installation, sanitary installations and plumbing, and outside of the house.
  • Also, it is advisable to talk to the neighbours and take a walk around the neighbourhood to know the area.
  • You will analyse the ease of parking, the proximity to services and recreation areas or the ease of making your usual journeys.

Negotiate the Price of House

  • When you find the desired home, you have to know how to tie it by making a fair offer.
  • If you have the services of a real estate company, it will advise you if the house is at a realistic market price.
  • If there is a great demand than supply, you must adjust to the existing offer without the possibility of negotiating to lower the cost of the home.

Formalising the Contract

  • Now, you have negotiated and closed the price of the home with the seller. 
  • Before formalising the agreement of sale, you must perform various steps and document checks to avoid future risks.

Following all the above steps you can maintain a balance in your finances and reach your dream home quickly. You can also visit our website to get more information on 382 under construction and 406 ready to move apartments in Hyderabad. Our verified data will help you in selecting your perfect dream home in Hyderabad.

By: Shailaja K