5 mistakes home buyers commit due to obsession with low price home deals- a perspective for 3 BHK flats in Hyderabad
If you are a home buyer In Hyderabad with a conviction of getting the best possible home, then you must watch out for the lure of low price home deals.
As a home buyer, when we begin exploring different residential project options, our budget tends to become overbearing in our search. The worst happens when the sole deciding criteria boil down to a low price deal for your dream home.
Let us say that you are looking for a 3 BHK apartment in the Sainikpuri-Yapral locality in Hyderabad. You end up locating two projects a stone’s throw away from one another- Builder A quotes Rs 4200 per sft for an apartment, and Builder B quotes Rs 3800 per sft, you re-thinking.
If your budget is Rs 65 lacs, then the amount of space you can buy for these prices will be-
Obviously, in the example above, a typical buyer would want that extra 160 square feet with Builder B, and may NOT look at why Builder B is cheaper than A.
Sometimes, it finally boils down to the ‘best deal’ on the price that becomes the only deciding factor.
Many home buyers simply choose a cheaper builder who lowers the price and finds that builder more understanding and adjusting. On the contrary, a Builder who does NOT reduce price is considered to be rude, adamant, and not worth it! Very little thought goes into understanding why a higher-priced builder is unable to reduce the price beyond a certain level. A builder priced at Rs 4200 per sft may come down marginally but won’t go down to Rs 3800 per sft. This kind of flexibility simply does NOT exist!!
QUALITY COSTS, and if you want quality construction, you have to PAY FOR IT!
The lesser the financial burden, the better it is! Hence, the obsession for a LOW-COST deal!
Thus, the right question we must ask ourselves is- ‘Should I be over-obsessed with pricing while buying my dream home in Hyderabad? Is it possible that I am missing something…and making a mistake?’
5 Mistakes we make with over-obsession with low price home deals
Here we discuss 5 mistakes that when we stick to low price as our sole criteria for the purchase of our 3 BHK apartment in Hyderabad.
- Falling into a trap of an over-lucrative pricing deal
- What should you do when you get a low cost deal…that’s cheaper by 10-15%? Grab it or leave it? A low price home deals needs to be taken as a warning sign
- It would be a huge lapse NOT checking into the specifications of the home, and evaluate what goes into the making of the home
- Low-priced builders want to sell their apartments, and compromise on QUALITY by force-fitting the pricing to suit the home-buyers’ budget
- A low-priced builders still makes profits, and gets away by offering you a LOW-QUALITY, LOW-SPECIFICATIONS apartment
- Feeling like a winner upon hard-bargained
- You end up making a mistake thinking that you won-over and drew a hard bargain, whereas, the fact is that you ended up bargaining for LOW-QUALITY
- Clearly, Low price home deals is usually a blunder as it means that the QUALITY will NOT stand the test of time!
- It is a mistake to buy an apartment that has gone through series of compromises from ‘start to finish’. Why would a builder follow 100% rigour and quality if he is giving away the apartments at an abysmally low price?
- You must check for specifications, and see if these are good for long term sturdiness of your building. If the builder is NOT making enough money, a builder won’t care about ‘quality’
- Compromising on health and safety needs of your family
- Do not make the mistake of buying a home that’s NOT pandemic ready
- With COVID-19, your family now need better quality, more SPACE, better ventilation, and superior ventilation, spacious elevators, a dedicated ‘utility room’ and much more
- All these elements COST, and that’s NOT possible with LOW-PRICED deals
- Lowering expectations, and neglecting of family needs due to over-obsession with a low-price
- You cannot compromise on ‘work from home’, and ‘study from home’
- Family members need a more engaging, entertaining and well-designed home…and all this will COST more than usual
- All these additional demands and needs must be paid for…since they require superior design elements
- Not being WILLING to pay more for a better quality of life itself is a flawed way to approach life
- Ignoring return on investment, and re-sale value in the long run
- Do not make the mistake of paying less for a building that won’t remain sturdy
- A poor quality building start wearing-off much sooner, and you loose your resale value
- An over-compromised home will result in prolonged pain. A dream-home turns into a nightmare with walls cracking, termites infestation, plumbing & electricals issues arising
- A bad investment will mean that RESALE will become difficult
A low price deal can actually be a big mistake that’s irreversible. So, keep your priorities, and scout for builders who may charge you more, but give you a home you will be proud of!
You must not make the mistake of buying a home where the builder has cut corners by using inferior grade and quality materials, accessories, fixtures, etc. Find a builder who consciously BELIEVES in QUALITY, and does NOT offer you a raw deal!
To quote Henry Ford- ‘Quality means doing it right when no one is looking.’
To know more about “Tips on evaluating QUALITY vs. PRICE- a ‘wise approach’ before booking your 3 BHK flat in Hyderabad” Click here