Top 5 factors to consider while purchasing a flat that you want to resale in the future - National

Top 5 factors to consider while purchasing a flat that you want to resale in the future

April 28, 2022

Buying a dream home in Kochi is a goal that we envision achieving from an early age. The investment of buying a Luxury apartment in Kochi is achieved through years of planning and saving and is likely to be the biggest investment you will ever make. This is why we need to be aware of the return on investment if we ever plan to resale the property in the future. Here is a list of things you should take into consideration while purchasing a flat.

Developer’s Reputation & Goodwill

Always validate the profile of the developer before buying an apartment. You must do thorough research on the builder’s profile and dig in through the history of the builder. It is important to make a detailed study of the credibility and earlier projects which he has delivered before you invest in property. Established credentials of the builder will assure a line of defense against getting cheated out of one’s money on an investment. Reputed builders will always ensure legal sanctities, structural integrity, and timely completion.

Construction Quality

Monitor every aspect of the construction process to drainage engineering, and attainment of acceptable levels of performance within the defined guidelines set out in the scope of work. Inspect and ensure the building’s construction quality and materials used in the project to make sure the final deliverables are free from any construction-related defects in the future. Before finalizing your deal, analyze the quality of construction by inspecting the strength of the structure, the floorings used, the paints applied, interior fittings, and accessories.

Location and Accessibility

The most important factors that influence the resale value of a project are the location of the apartment and its connectivity to all landmarks. It is imperative that at the time of choosing your apartment, you ensure the building is easily accessible from major parts of the city and is well connected by public and private transportation. The road roads connecting to the society and the in-roads within the society should be well-built and well maintained has a good resale value. The proximity to schools, colleges, and hospitals should also be reviewed. One must consider the neighborhood and the kind of people who live within and around the property. Always take a walk around the area, to ensure the safety of the place where u live and its surroundings.

Amenities

Modern apartments are almost always presented with specific amenities and features based on their pricing. Fitness centers, kid’s play areas, swimming pools, sports and games centers, community rooms, and conference rooms are some of the ample amenities undoubtedly, integral to any real estate project. Power backups, adequate parking space, and security provisions are some of the amenities which come under a non-negotiable category rather called necessities, as they are meant to fulfill the basic lifestyle needs of today. One should strategically think about choosing premium amenities fostering a friendly living environment that are easy to resell at high prices and can even retain a good value in case of a recession or a down period.

Permissions and Documents

When you start enquiring about Luxury flats for sale in Kochi, examine all the documents related to the building before signing an official sale agreement. The details related to ownership, government certificates, title deeds, and land use permissions must be properly investigated. If you are not much aware of the legal complications, you can use an advocate to crosscheck the documents. Before the flat possession, make sure you have received all the original supporting documents from the property owner.