A Comprehensive Guide: What to Consider When Purchasing a Flat in 2024
Pune’s real estate market keeps on evolving as a number of factors keep affecting the real estate market scenario here. For example, the introduction of Pune Metro has taken the Pune real estate market to a whole new level. If you consider the pre-Metro property rates of a 2 BHK flat in Kharadi, and the post-Metro property rate of a 2 BHK flat in Kharadi, you will be amazed at the price appreciation that has happened here. This is the reason why we have brought you this comprehensive guide for you, where we will take you through an array of factors you must consider before buying a flat in 2024. Read on.
Location Still Remains The Key
As mentioned earlier, look at the advantages the introduction of Pune Metro has brought to Pune’s real estate market. And this is exactly why you must research extensively on a location while buying a flat in 2024 in Pune. Before we delve into the other aspects of a location you must consider, let’s first give you some important advice. Go for a location where Puen Metro has already spread its wings. Areas such as Kothrud, Hinjewadi and Kharadi would be better options to buy a flat in 2024. Now, let’s take a quick look at a few other aspects of a location you must consider before buying a flat in 2024.
Price appreciation record: Check if the location has shown a steady price appreciation of residential properties in the last 4-5 years.
Forecast: Analyse various factors and come to a conclusion if the said location would benefit from growing demand and improved infrastructure.
Proximity to workplaces, malls and multiplexes: If the location has global IT firms and MNCs in its proximity, and has multiple leisure options within the radius of a few kilometres, it not only offers you the perfect work-life balance, but it also acts as one of the catalysts to fetch you great returns on your investment in the near future.
Evaluate Your Budget and Financial Stability
Apart from the upfront costs such as the down payment and closing fees, there are also other expenses such as EMIs, maintenance fees, property taxes, and utilities. Evaluate your financial situation carefully and determine how much you can comfortably afford without stretching yourself too much. Keep in mind that while a larger budget may afford you more luxurious amenities and features, it’s essential to strike a balance between affordability and long-term financial security.
Property Size and Layout
The size and layout of the flat should cater to your current and future needs, accommodating your lifestyle, family size, and preferences. Consider factors such as the number of bedrooms and bathrooms, the layout of the living spaces, storage options, and the overall flow and functionality of the floor plan. In 2024, prioritise flats that offer flexible and efficient layouts, maximising space utilisation and providing ample room for relaxation, work, and entertainment.
Quality of Construction and Amenities
When purchasing a flat in 2024, it’s essential to assess the quality of construction and the amenities offered by the property developer. Look for flats constructed using high-quality materials and finishes, with attention to detail and craftsmanship evident throughout. Additionally, consider the amenities provided within the residential complex, such as parking facilities, security features, recreational areas, fitness centres, swimming pools, and landscaped gardens. These amenities enhance your quality of life and add value to the property, making it a more attractive investment.
Builder Reputation and Track Record
The reputation and track record of the builder or property developer play a significant role in the success of your investment. In 2024, research the builder’s background, experience, and track record of delivering projects on time and as promised. Read reviews, testimonials, and feedback from previous customers to assess their satisfaction levels and any potential red flags. Opt for builders such as Zen Realty India with a proven track record of transparency, reliability, and customer satisfaction, ensuring a smooth and hassle-free purchasing experience.
Ensure You Won’t Have to Face Any Legal Hassles
Ensure that the flat you’re purchasing complies with all legal and regulatory requirements, including approvals from local authorities, clear title deeds, and adherence to building codes and regulations. In 2024, stay updated on any changes to real estate laws and regulations that may impact your purchase decision, seeking legal counsel if necessary to navigate through the paperwork and documentation involved in the transaction. A thorough due diligence process ensures that your investment is legally sound and free from any potential legal disputes or complications.
Future Growth Potential
In 2024, or in any other year after that, one factor that will remain constant while deciding to invest in a home is its future growth potential. Carefully consider the factors that might lead to a significant price appreciation in the future. These factors could be proximity to IT firms, upcoming infrastructural development, etc. If you are looking for homes that would fetch you great returns, you could consider investing in a 2 BHK flat in Kharadi.
(MahaRERA Registration No:P52100033357)
Kharadi, owing to an array of advantages, has always been an attractive investment option for smart investors. If you wish to own a 2 BHK flat in Kharadi or a 3 BHK flat in Kharadi in 2024, you must consider owning a home in Zen Elite. Renowned for its Zen Way of Life, this development takes pride in its scenic riverside views and 50+ lifestyle features.
