TIPS TO CONSIDER BEFORE INVESTING IN LUXURY APARTMENTS

Introduction

Investing in real estate in India, a country in the cusp of massive economic and industrial developments is a dream every Indian hope for. A real estate investment for the average Indian symbolizes security, social status, and financial asset for the future, and an overall positive psychological impact. With the development of the Information Technology sector coupled with bountiful opportunities abroad, the purchasing power and liquidity have gone up by a huge margin. The real estate sector has equally scaled up to meet the demands of this new breed of wealthy individuals or families

Investing in Luxury Apartments: Points to Consider

There are basic parameters to consider before diving into the decision of buying your dream apartment.

· Location: The most practical starting point is the location of the property. Given the volume of money, you will be pumping into your luxury apartment, it is most natural to expect the location to be exceptional, one that will push up your status quo. There are people who prefer the quiet home after a long day of work, while other jetsetters prefer centrally located properties with modern amenities. The best of both worlds is an ideal situation and requires careful consideration.

· Builder’s Reputation: Once you have zeroed in on the location, you can then narrow your search to the builders who have been in the business; and not just real-estate business in general, but who have a solid track record of building luxury real-estate projects. You do not want the hassle of running into huge legal issues or delays if you locked horns with a builder, who does not have much standing in the market. So investing a lot of time doing your homework about who is in the business will help you make a sound decision.

· Facilities: Luxury spells space and amenities. Luxury apartment projects can fall anywhere between 1800 sq ft to 3200 sq ft on an average. Money spells power and basking in the lap of everything luxurious. So facilities can include multi-level car parking, round the clock surveillance and security measures of top-notch quality, superfast elevators, and community club to name a few.

· Sustainable homes with smart features: Today with the state-of-the-art technology that we have at our disposable, you are more closer to your dreams than before. While investors are greedy for more, the property developers are equally enthusiastic about making the offer attractive with a plethora of features such as mood lighting, curtain control, motion sensor lights, IP enabled camera and so on. The sky is the limit.

· Build Quality: Last, but not least, the quality of finished work determines the worth of the project. Make sure you have a checklist of items to run through with the builder before the project commences and get their buy-in. Documentation is key. Study the floor plan in detail and ensure that the legalities are checked out before signing on the dotted line.