‘Value for money’ NOT to be mistaken with ‘low-priced deals’ while buying your 3 BHK flat in Hyderabad
A middle class home buyer in Hyderabad would have limited resources and options are plenty.
The energies must NOT be invested in finding the LEAST PRICE option for the money we spend.
That is NOT value for money, since LEAST PRICE ALSO MEANS LEAST QUALITY.
Clearly, ‘CHEAP & BEST’ is simply a myth.
To explain this- even when we buy a car, the sweeter the price, the better the luxury segment, and higher the quality of specifications.
Value for money is all about money spent being WORTH IT!
So, when you pay a certain price for your dream home, ask yourself- 1) is it cost-effective, 2) is it giving you ‘utility’ in the long run, 3) is the cost-benefit really going to last in terms of high resale value, and, 4) whether it gives you’re a SOCIAL return-on-investment.
The utility derived from a cheap sub-standard home that is made with sub-par construction rigour is poor!
This is why “being QUALITY CONSCIOUS” matters!
Finding the right builder who gives you TRUE VALUE FOR MONEY
Due to buyers’ over-obsession with low-priced deals, even builder give up their quality-centered approach, and begin cutting corners!
The moment the price of a proposed apartment goes down by Rs 200 to Rs 300 per square foot in a certain locality in Hyderabad, it clearly means QUALITY has been thrown to winds!
Finding builders who are committed to quality is a task in itself, which buyers often don’t realize.
However, you have many QUALITY CONSCIOUS builders who give you a high-quality home with superior specifications! These are clearly visible, and are worth every penny!
How should a home buyer go about a decision criteria with VALUE FOR MONEY as a key requirement
A home buyer must NOT jump straight to price, but instead have a wise approach as follows-
- understand family needs- short and long-term
- have a clear checklist of SPECIFICATIONS that make for a VALUE FOR MONEY apartment
- decide on the budget based on the QUALITY OF CONSTRUCTION you need
- only then a home buyer should begin the exercise of location preference, amenities etc.
What goes into giving you value for money?
- Have a strong evaluation criteria in looking for the right quality and right builder who has a deep commitment to QUALITY
- Have clear answers to the following questions:
- Budget and family needs from a home
- What goes into making the property? Commitment to QUALITY
Value for money is HIGH when you understand’ what goes into the making of the property’, and chase those expectations!
Value for money is directly related to ‘what goes into the making of the property’
- Builder must NOT be compromising on QUALITY aspects like the steel, cement, interiors, plumbing, electricals, tiles, fittings, fixtures, doors, windows, lifts, power back-up gensets etc.
- Value of money is high is builder follows the pre-construction rigour like soil-testing, anti-termite treatments, use of branded construction materials, professional approach to safety and quality
How can a home buyer get true VALUE FOR MONEY?
By avoiding low-priced deals. Understand that unusually low priced deals offers and deals mean that the builder may have reduced price by lowering the quality
Instead, opt for a HIGHER GRADE and HIGHER QUALITY home whose specifications are high, and branded elements are used. To derive maximum value for money, it is okay to pay a higher price per square feet for superior specifications.
Value for money comes with a high-quality home where you feel comfortable decades after decades.
To quote Catherine Pulsifer- “Home is where we should feel secure and comfortable.”
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