Logical steps to buying 2, 3 BHK, or bigger homes in Hyderabad

The city of Hyderabad has a wide range of residential offerings! You have a ‘gated-community apartment complexes’ spread over acres of land, as well as a host of ‘standalone apartment buildings’.

Besides, the typical home buyers prefer buying bigger homes in Hyderabad, in reasonably well-inhabited localities on small plots ranging from 400-1500 square yards. There are hundreds of builders, both big and small catering to this category of home buyers, and offering them all the ‘relevant’ amenities.

Considering this background, the suggested logical steps to buying a 2 & 3 bhk or bigger homes in Hyderabad are

Let’s explore…

1. Obtain a thorough understanding of the cost of apartments/homes in Hyderabad

• Good research will tell you the approximate prices in different areas of Hyderabad
• For instance, a 2 BHK of 1200 sft in Hyderabad could range between Rupees 45 to 60 lacs depending on the quality of construction and location. A 3 BHK of 1400 sft could be between Rupees 55 lakhs to 90 lacs
• The different areas have different costs- West Hyderabad is more expensive compared to North-East Hyderabad (Kapra, Sainikpuri, Yapral) or North Hyderabad (Alwal, Quthbullapur)

2. Get mentally ready to ‘finance’ your apartment, and NOT freeze on ‘size’ early-on

• Get ready to think how you are going to finance your purchase– own money, and loan
• Also, check the extent to which you are eligible to get a loan from banks since the banks are more amenable to providing loans to employed individuals who are employed with stable employers, and who have age on their side
• Check on eligibility is a major step that needs to be sorted out before you buy your apartment
• The size of the unit can wait till you are clear on how to arrange your funds

3. Understand your family needs and requirement in the short-term and long-run

• Once clear about finances, think about a 5, 10, 20 year horizon of you and your family
• The immediate needs like proximity to place of work, being in a spacious/green/good locality
• Existing and future social infrastructure
• Unique requirements of children like schooling, upbringing, subsequent jobs etc. are to be thought about at this stage

4. Decide on ‘size & specifications’ of an apartment as per budget & family needs

• Once the needs are well-understood and evaluated freeze on the size and location
• Final decision to be a deliberate, pragmatic and open-minded exercise
• Choose the right, trustworthy builder with RERA and GHMC approvals who would give you possession on time
• Choose an apartment with ‘utility room’ and balconies
• Be open to an ‘open or semi-open kitchen’
• More space is good, for ‘work from home’ and ‘study from home’ realities in a post-pandemic world
• While thinking of budget, a stretch of approximately Rupees 5 to 10 lakhs will always pay-off in the long run
• Similarly, more space is GOOD. Homes shrink faster than you think. More space will never hurt!

5. Make QUALITY a priority, and NOT get derailed from being ‘quality conscious’ without compromising on ‘QUALITY’

• Let ‘LOW PRICE’ NOT become the single most important criteria to buy your apartment
• Low price means a compromise on quality
• Check the specifications being offered by the builder, branded accessories/fittings and construction material being used
• Pay more if required, but get a quality apartment for long term safety and better resale
• Alternatively, take a smaller apartment if budget is a constraint, but NOT compromise on QUALITY

“If I were asked to name the chief benefit of the house, I should say: the house shelters daydreaming, the house protects the dreamer, the house allows one to dream in peace.” 

Gaston Bachelard

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To know more about “7 Things To Check For ‘Spaciousness’ In Your Builder Floor Apartment!”.Click here!