6 Essential Residential Real Estate Investing Tips
30-Apr-2024

Have you ever thought of ways to live a comfortable and safe life in a property that offers you all the necessary benefits? If yes, then knowing a few factors before buying your desired home will be helpful. Get an insight into the factors here

1 - Presence of green areas in a project

If on a search for your dream home then shortlist a flat that offers 60-80% green natural coverage in a project. Anything less, could compromise the advantages, nature, brings to you in your day-to-day life.

Having a park in your apartment will bring respite from the daily hustle and bustle of living in a big city. You can also amid manicured lawns. Greenery is extremely helpful if you practice grounding and love staying in the vicinity of nature. They also maintain an ecological balance, as, extreme urban sprawl may impact your quality of life.

Having a home, with, a view of the park from your balcony or room window will bring, a serene sight, in the midst of being surrounded by urban structures.

2 - Height of the building and the floor you select

The height of a building may seem like a small point but has a huge significance in the decision-making for a buyer.

On one hand, cultural factors drive the decision-making for some cities - like Delhi, Lucknow, etc where low-rise or independent homes are preferred, similarly in other cities like Mumbai and Gurgaon, a higher floor commands a premium and also fetches a higher price when you go to sell.

So, buy a unit according to the height of the property you prefer.

3 - Assessing the contractor and architect's reputation

A house that’s built on time, offers you safety, and is designed by a reputable architect are the indicators of a unit, built well, in a residential project.

So, look for a flat built by a reputable contractor. A contractor following their duties thoroughly will offer essential facilities on the construction site, adherence to the requisite building code requirements, a proper scheduling of project construction, and offering timely delivery of the project.

A contractor who is has thoroughly taken care of the equipment, and, materials required to build the flat, will, help in smooth working on the construction site. With this, as a buyer, you can expect quality projects on the project completion date.

A house that captures your interest will certainly fulfills your dream of staying in a beautifully designed home. So, to get a well-designed home in an apartment, buy one, built by a reputable and experienced architect.

Architects experienced in designing high-end buildings, design, visually appealing architectural designs, making, an apartment stand out amongst other high-rises. So, buy a flat designed by a reputable architect. This can be a satisfying home-buying decision.

4 - A Vastu-compliant home

In India especially, most people consider Vastu rules before making the most important purchase of their life. It’s said that following Vastu rules can bring an encouraging atmosphere and energy while residing in a property.

The most common 3 rules for vastu, popularly followed, include

  • The positioning of master bedrooms: As per Vaastu, master bedrooms should be in the south region or south-west but never between the two. This creates failures in relationships. Also, it should be noted that the northeast side of your room must not be messy.
  • Washroom location: According to Vastu Shastra principles, a washroom adjacent to the puja room is considered inauspicious. The perfect directions for building a bathroom are the southeast or northwest corners of the home. Having a bathroom in these directions can bring about better harmony and energy flow within the home.
  • Entrance door vastu principles:
    • According to Vastu principles, the best direction for the main door is Northeast. Southeast and southwest directions should be avoided
    • Main doors with light colors or earthy shades bring positive energies.
    • Wooden-made entrance doors should be purchased and installed.
    • The number of doors in the house should add up to an even number while installing doors.
    • The nameplate direction of the house should be on the left side of the main door.
  • The location of the kitchen
    • The kitchen should be in the South-East, East, or North-West part of the home.
    • The windows or ventilation should be on the West or East wall.
    • If you have a dining table in the kitchen, position it on the northwest or West side of the modular kitchen.
    • Many other points can be considered for Vastu compliance depending on your beliefs. A vastu-compliant house is easier to sell in the future bringing a higher value than the one built without following Vaastu tips.

5-RERA compliance

RERA - a real estate regulatory authority, set up by the government in 2016, is, a regulatory body, that, secures the interests of homebuyers. It helps homebuyers in making their grievances heard regarding the non-completion of the interior work in your property if there are any. The grievances can be communicated through contacting RERA on their website.

Any queries and complaints about the work performed on your property

can be addressed on the (Real Estate Regulatory Authority) RERA website.

Any queries and complaints about the work performed on your property can also be informed on RERA website.

Some of the examples,where, as a homebuyer you would need to visit the RERA website are-

  • During the process of creating, building, and managing real estate projects a developer is meant to get many permissions including environmental clearances, layout approvals, and giving all the disclosures. As a homebuyer, if you are aware of the permissions you can be sure that your desired property in your chosen location is safe during natural calamities, has structural safety, and general building requirements like a balcony, basement, staircase, and other essential residential property requirements. All these permissions can be verified on the state’s RERA website.
  • Another important point that as a homebuyer you should check is if the developer has created an escrow account. According to RERA guidelines, the developer has to prepare an escrow account where 70% of all sale proceeds retained from homebuyers have to be deposited and utilized for just construction activities. From research, it is observed that the laws in the escrow guidelines established by RERA five years ago are still not abided by many developers. If you think your developer is not abiding by the laws in the escrow guidelines, then you can always file a complaint on the RERA website.

6-Project density

Is residing in an apartment with a limited no. of flats is something you want? Are fewer no. of people in an apartment in a spacious environment some of the factors you are looking for? Then, a project having a low density will be a better decision.

Project density is an essential factor in deciding the unit you wish to buy. Project density is basically the number of apartment units for each acre in a given project.

For example- consider a project, spanning 10 acres and accommodating only 200 apartments in contrast to 500 apartment units.

The project with 500 units, is, likely to house more people compared to the project with 200 units, bringing overcrowding and discomfort to those who prefer living in open areas.

Thus, projects with low population density, will, always have a higher demand, offer a better quality of life, and most importantly a higher resale value.

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