7 Factors to Consider When Buying an Apartment in Pune
Becoming a homeowner is one of the biggest decisions you’ll have to make in life. If you’re planning to invest in a property, either to move in or generate rental income this is a handy checklist you’ll want to bookmark.
Although this list is curated keeping Pune properties in mind, it is applicable to any urban setting or property market in India such as Hyderabad, Chennai, Bangalore or Kochi. Here’s a list of 7 factors that will impact the long term value of the property, the appreciation you can expect and the quality of life if you decide to move in.
Table of Contents:
1. Why invest in Pune?
3. Developer’s Reputation
5. Water Supply
1. Why invest in Pune?
Pune is a cosmopolitan city with lush green hills and lakes, remains a sought-after real estate destination due to its immense growth and development over the last few years. A major reason which makes buying residential properties in Pune a good idea is its excellent infrastructure. In the past few years, many of the city’s suburbs have witnessed significant improvement and transformed into rapidly developing areas. The city prides itself on its massive IT hubs and automobile industries that offer plenty of job opportunities.
Pune has a moderate climate, meaning it never gets too hot during summer or too cold during winter, which makes it one of the pleasant cities for dwelling. Besides growth opportunities and lovely weather, the city provides proximity to world-class schools, colleges, shopping malls, hospitals, transport facilities, and recreational centres, leading to an increased demand for residential projects in Pune. With everything conveniently located, you can enjoy the unmatched living experience that blends with the elements of serene, grandeur, solace, and exquisiteness.
The location of the house matters a great deal. To find the most suitable location, it’d be best to assess your family’s needs for at least the next 20 years. Look for good schools and colleges in the region and the overall connectivity to them. This will help you if or when you decide to have kids. Apart from this, do not neglect the need for a supermarket. You wouldn’t always want to make shopping rounds feel like long road trips. Also, accessibility to great healthcare facilities and public amenities such as parks, subway stations etc add in to the property value.
2. Developer’s Reputation
The credibility of the builder can indicate whether your experience will be pleasant or not. The honesty of every builder can’t be relied upon; it is always best to play safe with brands who have been in the space for at least a decade.
While the brochures may promise tons of services and facilities, the end results will be delivered only if the builder remains true to them. Thus, one must know research as much as possible by looking into their past developments and checking with their existing tenants.
When you buy an apartment or property with weak research, the consequences can make your life difficult. This is especially true if you’re buying a property in a newly developed zone that is yet to have a full fledged community. It may be a few years before you see shopping centres, restaurants and more come up in the vicinity and if you’re moving into such an area, transit may be a large part of your day.
On a regular basis, you may need many things, and you should not neglect this factor while choosing a property.
Is the market located at a walking distance from the flat?
Is the bus stop or metro station nearby?
Is there a good school in the vicinity?
You should not overlook these factors for a comfortable living experience.
You can make a list of several needs you foresee for your family and then select a home that fulfills most of them.
4. Water Supply
Water supply isn’t just about having water round the clock, it is also about the quality of water and if the supply is susceptible to contamination. Does the maintenance team conduct regular inspections of water quality, clean out the tanks and unclog pipelines regularly? If you’re moving into a new home, checking with your tenants on these factors or conducting a water quality test will help you ensure that your family’s health is not at risk.
Nobody likes to park their car at an unsafe location. When you are paying for the apartment, you would like to pick a society that offers you a safe parking spot.
Just note that, in most of the premium gated communities, additional parking spots come at a premium. So, if you have multiple cars, you better prep-up for this additional expense.
Apart from that, also check whether the society offers a visitor parking facility. While some of them may be welcoming in this case, some may prefer keeping visitor vehicles outside the society premises.
Waterlogging is one of the deadliest evils for any building. It can cause serious damage to your vehicle and your belongings especially if you live on the ground floor. Plus, the foul smell can make your life unbearable, this can be magnified with a pest infestation or mosquitoes. So, before you purchase a home, ensure its drainage and sewage systems are in great condition and check with existing tenants beforehand..
Security is another major factor to consider when looking at a property. Look into the security services that are available at the society. Are the security guards well trained, do they have enough resources, is there a surveillance system or app to track visitors, are the records maintained, is an intercom facility available. All this may seem like inconveniences initially, but the safety and security of your family is paramount to have peace of mind.
Buying your Dream Home or Apartment in Pune
We hope that this property buying checklist will help make your journey towards homeownership a lot easier. Navigating your journey towards homeownership is much easier when you rely on a brand that you can trust. A reputed builder is less likely to cut corners when it comes to your home as any customer dissatisfaction can have a ripple effect on demand across multiple projects.
Puravankara has been one of the top real estate developers in Pune since 1975 and is well known for uncompromising values, customer-centricity, robust engineering, and transparency in business operations. If you’re on the market for buying your first home in Pune, going for a Puravankara apartment or villa can help you get the peace of mind you desire. You can rest assured that the property meets the highest quality, safety, and innovation standards.