Kochi is emerging as one of the topmost real estate investment places in Kerala and is currently booming with offers and opportunities for investment in real estate. The place is beautiful, loaded with natural beauty, has plenty of places to explore and is one of the best places in Kerala to live with kids and family. This boom in real estate has led to the rise in the number of builders launching new construction and building projects.
If you are also looking for budget builders in Kochi, check the following post to find out the things that you must know before buying. This is because, every budget builder is not as excellent and reliable as he claims to be, and every reliable builder is not as expensive as you might think.
In the following post, we cover various things that you must consider, read and always keep in your mind before buying a property in Kochi or anywhere else.
Learn A Few Things In Detail Before Buying Property In Kochi
Reputation Of The Builder
If you have finalized a builder, or you are considering one, do some online research about him online, before you make the purchase. Check out his market reputation and try to reach out to the previous customers for genuine feedback. As Kochi is booming in the real estate sector, there are numerous builders that claim to be the best but are entangled in many disputes. There are many builders with cases running over the completed projects, just because they don’t have proper clearances. So, we recommend doing proper research and making a choice that saves you from such troubles. No matter how affordable property is, it is always better to steer clear of any fishy deal that can bring monetary loss and mental stress.
Clearances And Documentation
Read about the different types of clearances and government approvals that a builder must get for property development. These clearances are to be obtained from different departments and are related to different property aspects. Always check and confirm that the builder you have chosen has all of them.
If you don’t know much about such documents, you can seek help from someone that knows such stuff or consult a property advisor as well.
Materials Used For Construction And Quality Related Information
When you are making a physical visit to check a property, always ensure that you focus on the quality of the materials and construction. While a home might look good from outside, once you try to look beyond the cover, you can find many serious issues. Though you just can’t figure out if there is anything wrong about the invisible things, such as the bricks and cement etc, you can check the other things. Inspect the bath fittings, plumbing, electric fittings and windows etc. Check for any signs of water seepage or plaster falling off of the walls.
Location
Kochi is getting rapidly developed these days, which means that the sub-urban areas and far-flung areas are also getting developed. So, before you make the purchase make sure you actually visit the place and check its location. See if it has good connectivity with the other major areas of the city, and whether you can access the emergency services such as hospitals and transportation etc easily or not. You must also keep the schools, colleges, entertainment areas and markets in mind. If you are actively looking for villas in Kakkanad then inspecting the location is one of the most crucial and foremost things to do.
Market Prices
As there are lots of projects going on and delivered in the major parts of Kochi, such as Angamaly, Otapalam and Palakkad etc, it has become difficult to find out which ones are bad and which ones are good. So, we recommend steering away from the prices offered by the builders and make a choice based on your assessment only. Also, compare the prices offered by various builders and choose an offer that is the best for you, without losing focus on quality.
Identify The Hidden Costs
Before buying a house, you must know about the hidden costs that you have to pay apart from the property prices. Some of them are even annual or recurring. Some of the hidden costs are maintenance costs, membership charges, annual development funds, society membership funds and other such things. Take them into account and ask your builder about them for having a better cost estimate.
Sensitive Zones Natural Views Are Good, But At What Cost??
Many people are developing properties in nature sensitive zones, such as wetlands, or restricted forests. They serve them as being surrounded by nature on all sides. Instead of falling prey to such claims, check whether the construction qualifies in relation to the govt. regulations or not, and buy only after you have confirmed everything.
Planning The Budget And Emis
Many people have this notion that rent can balance the EMI. So, they buy a house on loan and put it on the rent. They forget that a person living on rent can leave their house any day and they will still be left with a huge loan to pay. So, we recommend planning your finances well and buying a property that suits it perfectly.
Property Agents
An agent plays a big role in your purchase process and you must opt for a genuine and honest agent. This being said, it is tough to find a trustworthy and honest agent.
Start by choosing an agent with good market reputation, and with no legal offence records against him. You can also consult the previous clients to find whether the person is trustworthy or not.
This brings us to the conclusion of our discussion on the various things you must keep in your mind before buying a property in Kochi. We recommend keeping all of them in your mind so as to avoid losing money and mental peace in the process.
We hope all our readers find this write-up helpful.
Thanks for reading!