Buying or investing in property is a decision of a lifetime. Whether you buy new property or secondhand, many first-time buyers deal with a lot of confusion as there are many choices these days. Real estate developers in Bangladesh tend to usually only be involved in the sales of new property; and if that company has a brokerage wing, they often take charge of buying/ selling secondhand or lived-in property. Before buying a home, you should ask the following questions before you buy your forever home.
Before choosing a real estate developer, make sure that you conduct proper research. Ask your peers, friends and even your extended family for opinions. Even online apartment or home buyer forums can help solve many of your dilemmas. Whatever questions you might have that are related to buying a new home, note them down before you choose a developer. You could choose based on area, size of apartment, the customer service provided, or one that is reliable and will fit perfectly into your budget.
Ask your developer whether the property is free of disputes, has proper legal documentation, and is registered with the appropriate authority. These are the absolute basics you will need to confirm before you can even look at any property. Once you have chosen a property based on your budget and other preliminary requirements, then you can move on to visiting the site. Check to see if it fulfills all of your choices, and then you can move forward with the rest.
When you first choose an apartment, you will be shown its brochure and floor plans. Make sure you are aware of all the amenities your real estate developer will be offering you, and that they align with what you are looking for, both in the long and the short terms. Also check that you are comfortable with the location amenities. For example, if you have school going kids, you need to buy a home that is close to good schools.
For most people in Bangladesh, affording an apartment in a city like Dhaka or Chattogram has become next to impossible these days. Therefore, it is a good idea to talk to your real estate developer about the kind of financing and loan options you can avail. If you can, also ask about if they can provide any possible discounts or waivers on the apartment. This is also the time when you should clear out when you can hope to possess your apartment. This will help you chalk out when to stop renting a home, when to start buying new furniture, when the interiors will be finished etc.
The best advice for young couples investing in new property is to talk to your real estate developer to find out about all possible maintenance and hidden costs. This will help you budget your expenses and savings accordingly. Buying an apartment is a big decision, so it needs to be carefully thought out and well-informed. It is only then that you will be able to make the best of your situation.