Buying a property in Hyderabad? No matter, if you are investing in a property for appreciation or residing purpose, you just made the right decision. Hyderabad is known as a good spot for Real Estate due to its infrastructure, affordability and many benefits it offers. Especially, the city is growing as a destination for buying villas or luxury homes.
With a vast number of companies, IT parks, investments from different areas of the world, the city is growing as a place for opportunities. Exactly, this is why it has become one of the best places for Real Estate. Moreover, with the improvement in people’s spending ability, lifestyle demand and desire to lead a luxury lifestyle, there is a great demand for premium villas in Hyderabad. Fortunately, the prices are still affordable despite the increase in land rates due to high demand.Moreover, with the rise in gated community villas in the city suburbs, people are more inclined towards buying villas rather than flats. They provide more benefits such as freedom to upgrade interiors or exteriors, spacious garden, peaceful environment, less traffic and pollution etc.
However, even buying a villa in a reputed project should be overlooked. No matter what the property, how trusted the builder, there are certain things you should look into. Else, you will only face troubles in the future. Taking a few measures to lead a happy life in your dream home isn’t that tough. Here is your guide to buying a villa in Hyderabad. Hope this will help you in landing your dream home.
Guidelines to Buying Villas in Hyderabad
Set a Budget
First things first, buying your dream villa is a major decision in your life as it deals with your finances. Overspending on a single property might end you up with force changes in lifestyle, financial pressure, mental health issues etc. Therefore, the first thing you need to do is check your bank balance, determine your priorities and set a budget for buying a house. This way you cannot just make the right financial decision but also save a lot of time as you will eliminate visiting not-under-your-budget villas.
Also, write down the qualities and requirements of your dream house. This way you will have an idea of what to visit. Else you will need to visit hundreds of projects which simply kills your time.
It is completely okay, if you don’t have any idea of how your house should be. In fact, it is not that bad to visit hundreds of properties, you will only waste some time but finally you will learn a lot of things about how your house should look.
Look for Good Neighbourhood
It is equally important that your neighborhood matches the style of your home, whether it has the good infrastructure or not. Therefore, you should research well about the area in which you want to buy a villa.
Check if it is nearer to your office, your children’s school, and if there are parks, hospitals, shopping malls nearby. Most of the villas are constructed nearer to nature, outside the city. But that does not mean you should be far away from basic facilities. Fortunately, there are good facilities around the villas even in the outskirts of the city. The only thing is you should check if the villa you are going to buy is provided with them.
Check Connectivity
When talking about infrastructure, the first thing that is important is road connectivity. Check if the area connects to your office, hospitals, parks, etc essential places faster. Meaning, see if there is a bus, MMTS, or metro commute available to all important places in the city.
Most builders promise that the area will be soon developed with all infrastructure, which is true. Yet, calculate your needs and requirements, and do not make any fast decisions. Research if the promises are practical and how long it will take for the area to be fully developed so that you can stop yourself from falling into false traps
Also, of course, you should also check the very basic facilities such as water, electricity, and sewage systems, especially if you are Buying ready to move.
See Affordability
Now comes the major concern, affordability. Inquire about the prices of the villas and see if they are realistic. To better understand the pricing you can investigate the prices in the neighborhood, residents. This way you can not only know the pricing but also other factors such as maintenance charges, security, etc.
Hire a Realtor
Buying a property is a big task, as you should do a lot of research and leg work. In case, you are busy or unaware of how things go in Real Estate, it is wise to hire an experienced realtor. A professional realtor will do things like finding out your requirements, shortlisting the properties, enquiring prices etc. on behalf of you. Moreover, he will help you till the end in checking the legal documents.
Apply for Pre- Approved Housing Loan
It is good to apply for a pre-approved Housing loan as you will have the idea in prior of how much loan you will get. Thus you can avoid any surprises and stay in the track that your budget allows you. This way you can save a lot of time by skipping the non-budget properties.
You can then shortlist the properties after knowing how much exactly your budget is. Also, you can shortlist based on the projects that are partnered with banks for taking loans.
Applying for a loan is a smart idea when buying a house because the bank checks if the developer or the project is legitimate or not and approves only if it is legal. Hence, you can escape from legal issues beforehand.
Make Offer
After you shortlist the properties, make a physical visit to the properties. Check for issues such as quality of tiles, pipes guest parking that may even look minor now. You don’t want to regret it in the future, right? Also, never overlook the amenities such as swimming pool, gym, playground, etc. the developer promises. You need to be keen on finding out what you are offered and what is not offered to make the final decision.
Recheck Everything
You can make offers for a couple of villas you are interested in. Once the offer is accepted you need to recheck for all the things discussed above to proceed. Also, you should check the legal documents such as title deed, NOC, RERA registration, etc. before you sign for the contract.
Do not hesitate to take a step back if the villa you are buying fails in promising you the legal safety or comfort. You can simply ignore it and look for the other one, there are many projects available in flourishing areas such as Gachibowli, Tellapur, Madhapur, Nanakramguda etc.
Bottom Line
Buying a villa is a dream come true for many. Whether it is the luxury life it offers or the peaceful environment you get around, villas became the trending properties one could afford. However, buying a Real Estate property is a major financial decision and an investment option that also possess risk. Therefore, you need to take time before you invest in your dream home. You can have this guide by your side and plan your buying safely.