Your Guide to Look for Budget Apartments in Pune
So you’ve decided on your kind of home and are ready to take the plunge. But have you ever given a thought to how important it is to consider various other factors that matter apart from your home when making a decision? A city like Pune spoils you for choice when it comes to home buying. Offering a range of apartments-from premium to budget homes at diverse locations, the options would confuse a buyer.
If you are looking at buying budget apartments in Pune let us run through a few pointers that may serve as reference points while booking your space.
Tips when looking for budget apartments in Pune
For budget homes, work out your budget before you close a deal. On average, the budget would be around Rs 60 lakhs. Always keep aside some money for emergencies and provision for household expenses for at least six months. The most basic guideline is that your Home loan EMI should not be more than twenty-five percent of your monthly income.
Choose the location which is suitable for every member of your family- new development, or an established location. Your office location may change but your home will remain where it is. So it is important to search locations that have the good social infrastructure, schools for children, markets, healthcare facilities. Do check around if the dream home you are considering is near an area that can be hazardous – there could be a waste dump or an emission spewing factory or a big drain nearby.
You must also check public transport availability in the area for daily commuting needs. Always consult and consider the master plan of the area where you intend to buy a house as your office location might change at any given point in time so a location with good connectivity and roads will serve you better.
For a comfortable living, look for a house surrounded by places such as hospitals, banks, ATMs, schools, parks, and markets. These social amenities would not only serve your daily necessities but also impact your quality of life.
Localities like Ambegaon, Wakad, and SInhagad road offer homes that are friendly on the pocket and offer basic amenities to their residents. These areas have good social & physical infrastructure and good connectivity to other parts of the city.
Suggested Read: Benefits of Investing in a Property in Pune Real Estate
Once you have shortlisted the localities, make a fair comparison of the projects, size of the house, conveniences, and infrastructure. Assess the growth of the locality and its future return on investment. For instance, it is easier to put a house on rent if it is near commercial or office centers or near educational institutes. To assess your requirements and accordingly decide.
- Civic Infrastructure/Legal Standpoint
When considering buying a project in the suburbs, check if the project lies within the municipal limits of the city. This is a critical factor given that water supply is a huge issue for projects not within PCMC limits. Since water is sought from tankers, you end up paying a considerable amount for water. This hidden cost would raise your monthly budget.
Check if the locality is served by a municipal corporation or if those essential services are privatized. Make sure water and electricity are not charged separately from your regular monthly bills. There may be localities with serious legal issues relating to land acquisition or violation of construction norms. Steer clear of any irregularities beforehand.
Your place of stay, your home impacts everything you do. This ready reckoner would help you make an informed decision!