Buying a flat in Bangalore in 2023 is a substantial investment. Do you know what to check when buying a flat in Bangalore? It is important that you put in the effort to do your research. There are a lot of things to know before buying a flat in Bangalore. This is why you should give serious consideration to all the things in the checklist which can influence your choice.
Here are the things to know before buying a flat in Bangalore
1. Finances (Budget and Mortgage rate):
Determine your budget before you start searching for an apartment. After taking into account your income, costs, and savings, you should choose a price range that is within your financial means. You should look for flats that are priced within your estimated range, but you should also be aware that costs might vary significantly based on the location, size, and condition of the flat.
Suppose you are wondering what to check when buying a flat in Bangalore in terms of finance, Keep the below-mentioned things in mind.
Carefully analyze the conditions of your mortgage as well as the interest rate.
You should look for a mortgage that provides both a reasonable interest rate and flexible terms for making payments.
You should also take into consideration the fees and other closing charges that are related to the mortgage.
In addition to the cost of the apartment itself, be sure that you include a line item in your budget to cover these additional expenses.
2. Flat’s dimensions and layout:
You should consider the dimensions and layout of the flat before buying one. This guarantees that it will fulfill all of your requirements and has enough space. You may consider these:
- The number of bedrooms, balconies and bathrooms that you require
- The dimensions of the necessary living space and kitchen.
- Dimensions and arrangements of the windows. This plays an important role in ventilation in the flat.
- See if the sq. ft. of the flat complements the size of your family.
- Make sure of the plumping, ceiling as well as piping plans accordingly.
3. How old is the flat:
The looks of the building also matter right? In addition to its current condition, check the age of the building as well as its current state. This is to make sure that it has been carefully maintained and is in excellent shape.
Check the flat for obvious indications of wear and tear. What to check when buying a flat in Bangalore in terms of wear and tear would be:
- Cracks in the walls
- Paint that is peeling
- Quality of the materials used
- Type of tile used for the floor. Whether it is granite or marble?
- The condition of tiles such as buckling, cracking defects shouldn’t be there
Even if you find that the flat is old but is good enough to live, you should definitely consider buying it.
4. Facilities present in the flat:
If you are wondering what to check when buying a flat in Bangalore, look for flats that provide the following facilities.
- A parking area
- 24/7 Water supply
- Regular maintenance
Looking to buy an apartment in gated community in Bangalore? Then you should look for –
- Modern security features
- A fitness center
- Swimming pool
- Playground or Kids playing area
Check for these facilities as part of their amenity package for the flat’s residents. These conveniences have the potential to raise the value of your apartment and improve the quality of your life.
If you wish to have more amenities, you can also check out the amenities provided in a villa. According to your needs, you can look for a villa too if you wish.
5. Legal paperwork:
Ensure that all of the legal documents that are associated with the apartment are in order. In order to verify that there are no problems with the property, these papers have to be examined by a legal representative.
Given below is a list of 7 documents if you are wondering what to check when buying a flat in Bangalore.
– The flat’s title documents – Mother deed – Intimation of disapproval/ IOD – Commencement Certificate – Occupancy Certificate – Approved Layout Plans – Encumbrance Certificate
It is also a good idea to seek legal advice before purchasing a property to ensure that all the necessary documents are in order and that the purchase process goes smoothly.
6. Maintenance and repair expenses:
It is important that you take into consideration the ongoing costs of maintaining and repairing the flat to guarantee that you will be able to pay them.
Given below are what to check when buying a flat in Bangalore to be aware of the additional expenses that might be included.
- The monthly payments for the water and electricity.
- Payment for any repairs that need to be made to the building or flat.
- Monthly payment for the maintenance of the building.
7. Value of the flat:
Think of it or not, one of the things to know before buying a flat in Bangalore in 2023 is its value in the future. When thinking of what to check when buying a flat in Bangalore, consider the flat’s resale value. This is to have a guarantee that you will be able to sell it in the future.
Look for apartments that are situated in regions where there is a significant demand for housing. This will increase the likelihood that the value of the flats will increase over time. You can never tell when you will have to shift cities and leave the flat behind. Make sure to keep future considerations in mind.
8. Examination of the home:
Before putting in an offer on the flat, it is recommended that you get it inspected by a professional home inspector first. The things to know before buying a flat in Bangalore are known to a home inspector.
He will be able to spot any difficulties that exist with the flat, whether they be structural concerns or problems with the electrical or plumbing systems. With all of this knowledge at your disposal, you will be more equipped to choose the perfect flat for yourself.
9. Vastu Tips:
Vastu for home is one of the important aspects to know before buying a flat in Bangalore, even in 2023. In Indian culture, a lot of importance is given to this.
Not following the Vastu position can lead to bad omens sometimes, as per belief. Regardless of your belief, there is no harm in following the Vastu tips. Some of them are given below.
- The entry to the flat should be in the east or northeast, or northwest.
- The kitchen should be in the northwest or southeast.
- The master room should be in the north.
- All the eastern openings should be wide.
Here are the best Bangalore locations for a flat in 2023
Alright! Now that we know what things to look for in a flat, we should also find a good location right?
Before buying a flat in Bangalore, one of the most important things to know is the flat’s location. Look for a flat that is situated in a secure neighborhood with quick access to public transit, schools, and hospitals, as well as other conveniences.
You should also think about how far it is to go to your place of employment, as well as the volume of traffic and the amount of pollution in the region. There are many areas in Bangalore that are popular for buying flats. Some of the important locations to consider are given below.
Sarjapur Road is a popular area for buying flats due to its proximity to major tech parks, schools, and hospitals. It’s also well-connected to other parts of the city.
Whitefield is another popular area for buying flats, particularly for those working in the IT industry. It is home to many tech parks and is known for its good schools and hospitals.
Electronic City is a major tech hub in Bangalore and is home to many IT companies. It is a popular area for buying flats due to its proximity to work and good infrastructure.
HSR Layout is a well-developed area with a mix of residential and commercial properties. It is known for its good schools and hospitals and is well-connected to other parts of the city via public transportation.
Indira Nagar is a residential area that is known for its good schools, hospitals, and shopping centers. It is a popular choice for families due to its proximity to amenities.
Koramangala is a well-developed area with a mix of residential and commercial properties. It is known for its good schools, hospitals, and shopping centers and is a popular choice for families.
Jayanagar is a well-developed residential area that is known for its good schools and hospitals. It is a popular choice for families due to its proximity to amenities.
What other things are people curious about when buying a flat in Bangalore?
To check this, you can verify the title deed, encumbrance certificate, building plan approval certificate, and occupancy certificate of the flat. This will ensure the authenticity of the flat’s legal proceedings.
You should ask the previous owner for all the legal documents of the flat and carefully go through them before making any purchase. This ensures that you will not be a victim of any type of fraud.
Before settling down on a property, confirm that the project has received Karnataka government and RERA approval. Make sure the developer provides all the government-approved documentation.
Make sure you have your identity, address and income proof ready. Along with this you will also need your most recent pay slip, a certificate from the enforcement office, and proof of assets among the many other documents required.