Home Buying

How To Choose Budget Friendly Flats and Apartments in Kerala?

22 JUL 2022

It is no secret that almost all of us dream about buying our own homes these days. Finding your own place to live in Kerala is an important decision that shouldn’t be taken lightly. Unorthodox to popular belief, this doesn’t have to be an impossible dream – you need to save up for a while and be prepared to make some compromises. For example, you might consider renting a smaller and more affordable place while saving money for a down payment on a mortgage. Before looking for an apartment, you must decide on a budget. The EMI amount you can afford must be within your monthly income. Keep in mind that you have to pay new bills, utilities, internet costs, furniture, and other decors as well. Hence, the most crucial tip is preparing a budget and sticking to it. Then, you can go out and start looking for budget-friendly flats and apartments. This blog post will analyze some tips that will help you choose budget-friendly flats and apartments.

Here are some angles on how to select budget-friendly flats and apartments:

1) Decide What You Can Afford:

You should be mindful of the importance of drawing up a budget before choosing a place to live. Sit-down and figure out how much money you have each month to spend on rent or EMI. It is essential to include all necessary expenses when planning a budget for renting or buying a place. It contains bills, groceries, and other expenses. Moving costs should be factored into your budget as well. Whether you are moving across the country or just around the corner, you may need to hire professional movers to move your belongings. Be realistic and give yourself some breathing room in case of unexpected costs. If you don’t budget wisely, you may run into financial troubles in the future. Saving for retirement or emergencies should be part of your first apartment preparation.

Affordable House

2) Narrow Your Search:

Once you know what amount you can afford to spend, start hunting for a place that feels right for you. House hunting can be overwhelming. When it comes to narrowing down your search for a flat to buy, you should take a few key things into account. It’s essential to think about what you need in a property as well as the location. Location is always a key consideration when looking for a home. You’ll want to find a neighbourhood that suits your needs and is in a good location for commuting. If you have children, you’ll also want to think about schools in the area. Flats in tier 1 cities of Kerala are notoriously expensive, but with a little bit of searching, you can find some gems if you know where to look. Narrow your search by focusing on a specific area of Kerala that you want to live in. Once you’ve decided on a location, start looking at builders’ websites and property portals to see what’s available. Make a list of your favourite flats and then arrange viewings.

3) Select The Righteous Builder:

Choosing the appropriate builder for your dream house is a vital step. He will be in charge of your home and everything it offers. There are many builders on the market, but which is the most trustworthy? To select the finest builder who will deliver the best quality in terms of architecture, facilities, and quality, one must be cautious and conduct a complete market analysis. Your life savings are invested in the purchase of your dream home. If you are apprehensive about buying an inexpensive apartment because you are concerned about the quality and other considerations, you might pick a well-known builder. When you buy from a reputable brand, you can be confident that you will have no problems. The best thing is that the developers will have RERA registration for their apartments. Most top real estate firms emphasize their consumers and do not skimp on building quality. Still, you must evaluate, analyze, and choose the most satisfactory builder that meets your expectations.

Choosing Right Builder

4) Size Significances:

When looking for a new flat to purchase, it is vital to consider the size. Some people commit the mistake of buying a flat that is too small and then find themselves cramped for space. It is crucial to think about the amount of space you will need and factor that into your decision. You need to ensure that you have adequate room for everything you need. You also need to make sure that the flat is in a good location. If it is in a good area, it will be easier to find a job and get around.

Another thing to contemplate is the design of the flat. Some flats have bedrooms located right next to each other, while others have them spread out throughout the flat. Think about how you would like to live and what would be the most comfortable for you.

Lack of Space in Room

5) Check Out The Carpet Area:

It is suggested to check the carpet area of the apartments before deciding to invest in them. Depending on the location, the carpet area can vary a lot. It would be best to compare the carpet area of budget-friendly flats and apartments with similar ones in the same area. After considering the size, it is essential to analyze the carpet area. The carpet area is the net floor space of the apartment. It excludes external walls, areas under services shafts, an exclusive verandah area, and open terrace. The carpet area does not enclose the area covered by the exterior walls. Be careful when calculating the carpet area. Ensure that you know the difference between these carpet areas and super built-up areas before purchasing a budget-friendly flat or apartment. By understanding these differences, you can bargain for a better price and save money.

Carpet Area

6) Investigate The Land Record:

When looking for low-cost flats in Bangalore, be sure to check the land records. You should learn more about the plot or land on which the property is built. The land record includes detailed information on the plot’s soil type and condition and geography. Check to see if the apartment lot is registered as a residential property. In addition, ensure that the plot has adequately been legalized and that there are no outstanding dues or obligations. Before acquiring any budget flats in Kerala, always request the title deed, which establishes the property’s ownership and rights. When we see the low budget rate, most of us will not hesitate to say yes right away. Conduct thorough background investigations to ensure you are not falling into a trap.

7) Thoroughly Read The Builder-Buyer Agreement:

If you choose a budget-friendly flat or apartment in Kerala, be sure to read the builder-buyer agreement carefully before signing any papers. These documents hold the terms and conditions agreed upon between the buyer and builder and are vital for your legal rights. You must understand the financial obligations of the buyer and builder. Pay attention to the clauses regarding interest payments, penalties imposed on the builder, and transfer charges. You also need to understand the legal recourses available in case of any dispute. It is a good idea to take professional help to review the agreement.

Read Builder Buyer Agreement

Curtains Down:

We can all agree that buying a flat in Kerala is a once-in-a-lifetime opportunity. As a result, you must be very sure about your selection. Before closing the deal, go through the above criteria and additional variables such as closeness to stores, supermarkets, schools, and hospitals. You will undoubtedly make the most excellent decision. If everything above meets your expectations, you should buy it since it is a significant investment. If you’re looking for a beautiful flat within your budget, we are the ultimate solution for you. We provide the most outstanding facilities and flats for various family sizes and needs.

To learn more about our projects, contact us.

Author - Confident Group

As the most trusted real estate brand in the nation, we at Confident Group strive to create a positive, smooth and transparent medium for potential home buyers with anything and everything related to home purchase. We provide informative and engaging articles which cover useful details across many verticals from the real estate sector. Our 2-decade long expertise in building infrastructure projects across Kerala and abroad backed by the trust of over 10,000 customers earned us the reputation of being the best as a real estate brand in Asia. We hope that our blogs will help in translating our experience for the prospective buyers who are looking for their dream home.

Comments
POST YOUR COMMENT

Related Articles
FSI

Floor Space Index (FSI) Importance and Calculation

Among the most important aspects of real estate is Floor Space Index (FSI), sometimes known as the Floor Area Ratio (FAR). FSI refers to the maximum area of a piece of land that will be used...

tumb

Know About the Laws to Protect the Interest of Flat Buyers

"Ignorance of the law is no excuse in any country" - Thomas Jefferson. People can take months and even years to zero in on that perfect dream home in a beautiful neighborhood. But it's qu...