ADO Content, March 2016 | Kolkata

If you have decided to do away with monthly house rents and to move out of your rented apartment to your own dream house or apartment here is a quick checklist for you to note. If you are going to buy your first apartment, then this article might help you with a checklist that you can note and verify before buying.

  • Decide on the area / locality in which you want to buy an apartment. This may involve spending some quality time in that area or at least doing some basic research.
  • Before you buy, research the market to make sure you are getting value for your money. Consult some independent valuers or real estate agents and check recent sales trend in that area.
  • Visit as many places as you can in looking out for properties that fit your criteria, so you’ll have a good idea of what your money buys. Investment on buying your own apartment involves your hard earned money and also lot of emotions…so be careful.

Now let’s say you’ve found your dream apartment …

  • Do check that the property you are interested in is close to the facilities you require for your family, for example shops, public transport, parks, hospitals, schools, gym, etc. This helps you to save time as well as staying connected.
  • Consult with Lawyer, Architect / Engineer, Financial Advisor with the details of the apartment that you intend to buy for expert guidance and advice.
  • When you choose to live in an apartment consider whether the building is close to the main road or any other public place(s) – mall, multiplexes, bars, etc. What is the amount of passing traffic – will it be noisy? Will the noise or crowd affect your lifestyle? It is a good idea to arrange inspections of the building during different time points of the day – in the morning, evening or during peak hour, before you finalise the agreement.
  • How old is the building? You should consider the age of the building. Are any facilities likely to require repairs or replacement? It is strongly recommended that you obtain an architect or engineers report on the building before deciding to buy. It is always advisable that any repair or replacement work to be carried out under professional guidance only.
  • What are the security measures of the building for example, can anyone walk into the building or there is a security check at the entry point? Provision of close circuit cameras?
  • Does it have a balcony so you can enjoy the view or spend some time to relax? Or is the balcony being blocked by other buildings or facing the wrong side of the sun?
  • What are the monthly maintenance charges? Many people don’t think at this aspect when they buy a new apartment. They will generally cover the municipal tax, property tax, assessment tax, water charges, common electricity charges, elevator charges and charges for hired helps, like the garbage cleaner and security, etc. Find out will be the maintenance charge, what cost heads are included in the monthly maintenance charges. For example, car parking charges may be separate.
  • If you have a car this must be an important question to ask. Will car parking be provided and do you have to pay extra for it? For pre owned apartment check with the seller of the apartment if his/ her parking slot will be made available to you with the purchase of the apartment. If the previous owner did not have a car parking space, speak to the secretary of the society and ask for a parking slot.

Hope these tips and advices become useful to some of our readers.  Do feel free to get in touch with us for any technical assistance, we will be happy to help you.