Tips on evaluating QUALITY vs. PRICE- a ‘wise approach’ before booking your 3 BHK flat in Hyderabad
A middle class home buyer in Hyderabad is price sensitive. A home buyer may be looking at a range of Rs 55 lacs to 70 lacs for a 3 BHK flat in Hyderabad admeasuring between 1500 to 1800 sft.
Most of the home buyers in Hyderabad go for a ‘standalone building apartment’ to get a good, low-density location, and also save the extra bucks by NOT paying for amenities like gymnasium, swimming pool, club-house etc.
Let us develop a clear approach while and NOT fall prey to a singular pursuit of lowest possible pricing.
What we sometimes fail to understand is- QUALITY MATTERS….and that QUALITY COSTS!!
Is Quality really important for your 3 BHK flat?
LOW PRICE should not be our only yardstick of purchase. Other factors related to specifications, grade and quality of construction matter more.
- Quality matters, and quality costs!
- A good structural building, build with the necessary rigour, and with high quality specifications of products and processes
- Being completely unconcerned about the ‘building’s internal and external specifications’ mean is INCORRECT
- DO NOT turn a blind eye to the fact that ‘branded and reputed materials add-up to create a superior final product’
A desire for a ‘lower per square foot price’ of an apartment means that we are consciously turning a blind eye to what we should ‘rightly desire’ ‘deserve’!
Knowledge of specifications is important.
We must equip ourselves to be able to identify ‘what kind of quality gives us what kind of a home’, and choose our home judiciously.
- Being stuck upon the ‘price factor’ is a loss-making proposition. After all, we are not dealing with fruits or vegetables here
- The builder can lower the price only if the quality is lowered
How is an apartment put-together by a builder?
Let’s understand a builder’s psychology. In real estate construction, an apartment is put together by a small builder based on two things-
- Customer requirements (segment of customer builder is serving)
- Matching the target segment’s budget to quality & specification. Builder thinks- for this price, what kind of quality should I provide? Where all can I make compromises, and where NOT so that my apartments get sold-out quickly?
‘Price wars’ of various builders within this ‘LOW-PRICE customer segment’ further worsens quality!
For a low-aspiration budget-constrained home-buyer, PRICE becomes the only yardstick to purchase an apartment. This builder of this low-quality seeking customer segment ends up compromising heavily on specifications and construction materials. The building gets weak in the process, and does NOT stand the test of time.
The resale value of such low grade buildings is also extremely poor after 5 or 10 years. In worse situations, such apartments just do NOT get re-sold after a few years, because the building looks so dilapidated ad run-down, that it scares away resale buyers!
This results in a downward spiral where builders serving the middle-class segment go all out to out-do one another on a ‘price driven war’. Result is a solid competition on price, with little or no regard for what goes into the making of the apartment.
- A ‘low cost driven’ price offering happens only when builder starts cutting corners, and going LOW on quality!
- The apartments in this segment are lack luster on quality and durability
- The materials tend to get lower and lower on grade
- Although these savings are passed on to the new home buyer, it is NOT worth it
- While a home buyer gets a low priced home, a builder maintains one’s own margins/profits
To know more about “6 compelling reasons to go for a 3BHK flat in Hyderabad” Click here