Buying Homes: Negotiate To The Last Dime, Cross-check Facts, Be Choosy

Many home buyers prefer residential apartments in India which are newly constructed as opposed to resale apartments, due to various reasons. The first among them is living in a property, which is well equipped with latest fixtures and interiors.
The experience of living in a new home can be further enhanced. All you need to do is just follow these quick tips:

• Choose what you need: Buying home in an under construction project in India gives you the option of choosing the apartment and the floor with the correct view and direction, especially for the ones, who believe in Vaastu. Prefer a home that faces the East, giving the much-needed sunlight and air. Ensure that you visit the property before making a final decision.
• Make a design choice: Buying a new home allows you to customise it according to your needs and requirements. It is not necessary to stick to builder's standard design. So if you have some customisations to make, ensure that the builder creates certain spaces according to your needs; for instance, leaving space for wall-cupboard in the bedroom or for a bar cabinet in the living room. If you are planning bigger changes like modular kitchen, combining the living and dining hall in to one or even installing a bathtub in your bathroom, ensure that the builder knows it before hand and can get them installed in your home, at a cost.
• Negotiate to the last dime: Real estate is a buyer's market. Though the builders do not bow completely, but those with large unsold inventories can be negotiated with. There might not be drastic discounts but some who are under market pressure launch payment schemes or paid amenities for free. Look out for such schemes but before that check if the property fits your criteria. Always communicate with the builder for best deal.
• Cross-check the fittings: Though new homes are equipped with new fittings but ensure that the quality of these fittings is not sub-standard. This goes with plumbing and electricity of the apartment as well. Fix if there are any discrepancies, communicate it to the builder and demand a good discount on the account. The repairing costs can be expensive. If you are buying a home before the fittings are done, get your own electrician and plumber to complete the jobs. This would save you a lot of money and time and also allow you to customise the electrical points and taps.

(Katya Naidu has been working as a business journalist for the last nine years, and has covered beats across banking, pharma, healthcare, telecom, technology, power, infrastructure, shipping and commodities)