First of all BUDGET, is the big keyword for this hunt. How far are you willing to pay for that dream home of yours.
Next comes the decision of home/flat. Lot of contemplation goes on here. Lot of advantages and disadvantages in both options.
Flat :
Advantages: security, maintenance, neighbours etc
Disadvantages: associations, meetings, do not own the land, only the flat.
Home:
Advantages: own land, can build according to needs etc.
Disadvantages: security, maintenance etc.
Since my experience is that of flat hunting. I shall type down my experience and tips.
1. Budget - started of with a low budget, but realised that real estate in Chennai was heating up ( and now is on fire!!) and increased the budget.
2. Identify the areas in Chennai you want to settle in. North/South/West/Central Chennai.
3. Find out what the current rate per sq ft. is in that area. Also for new flats and older flats the rates might slightly differ.
4. Drive around the area and look out for new constructions happening. Also look out for ads in newspaper (Hindu : Property plus on Saturdays)
5. Make a list of the builders and their contact information. Enquire about their current and forthcoming projects in he areas you have shortlisted.
6. Look at the floor plans/ model house if any. Check if the carpet area (calculated from the floor plan) is what you would require.
7. Any changes that you require should be attended to ASAP.
8. Some options: hot water facility in the kitchen sink, hot water facility in the bathroom sinks, facility for garbage crusher in kitchen sink. for split a/c you could have the stabilizer in the balcony, pumice stone embedded in the bathroom floor tile. etc.
9. Flooring: options are varied from marble to vitrified. now wooden flooring is an recent addition. Make sure the floor skirting are rounded at edges especially if kids are around.
10. Once you have all that checked, next is home loans.Banks now seem to have good competitive rates.
11. If your seach has not yielded anything yet, banks have their own house hunt people to do that job for you.
- Maintain a diary for all the search.
- Make sure you check out the nearest school/ bank/ hospital/grocery/ provisions etc close to the location
WISH You all the best in the search for your dream home
New home move-in checklist
Grihapravesam - Things to do
Floor and tile shopping
Window treatments
Furniture shopping
Light Fixtures
Woodwork