5 Unbeatable Ways to Unlock the Mystery of Budget Apartment Prices
During the good old days in school, most of us have been intrigued by The Hardy Boys or Nancy Drew. On growing a little older they were replaced by Sherlock Holmes and Hercule Poirot.These characters made us rear a secret desire to turn detectives. It’s time to make way for the long held detective within you. Use these hot leads to find the right price for that sort-after budget apartment.
Clue 1: Searching on the Internet
Today we are heavily dependent on the internet while seeking information. Hence, it usually inaugurates our quest for apartment prices.While a zillion options exist, it is best to rely on long-standing popular choices. Websites such as makaan.com, magicbricks.com, 99acres.com, commonfloor.com, etc. provide exhaustive information. Their advanced search patterns give you an idea of prices in a criteria-wise mode: location, apartment size, budget and other criteria.The indicative prices here should help you chart out your budget – the first step towards your cozy home.
Clue 2: Relying on Good Old Print
The classified section in your morning newspaper may be the best resort for knowing current prices. Some Dailies also carry weekly supplements dedicated to real estate. ‘Property Times’ (Times of India) and ‘Homes & Interiors’ (Deccan Herald) are popular examples.They carry up-to-date charts with area-wise rates. Additionally, they provide information about bank-wise loan rates – something that maybe most vital in your house hunt.
Clue 3: Stepping Out
Yes, you get one weekend and you want to warm your couch. But the truth is you will never get a realistic perspective unless you step out. Your real estate broker is probably very reliable.However, if you are over-dependent on him, he may cut you a raw deal.Drive to the neighborhood where you are considering the apartment, meet multiple brokers. Also, attend those annual mega property fests – they are the super-markets of the housing sector.Wear those detective glasses and get scouting!
Clue 4: Tracking the Trends
Buying an apartment has dual advantages: it gives you a permanent roof and a secure financial investment. To maximize the latter, keep a watch on price trends in different areas.Rates in a certain area may suit your criteria. However, patterns may reveal stagnancy in the growth graph. Put your money where the investment to appreciation ratio meets at an ideal level for you.The best way to keep one’s self abreast is by subscribing to real estate sector reports. They are prepared by qualified experts after extensive research on trends and include futuristic speculations.Leading property consulting firms such as Jones Long Lasalle, Knight Frank, CBRE, DTZ, Cushman & Wakefield, etc. publish periodical Newsletters/Research reports that can be accessed without any subscription fee.
Clue 5: Cross-Checking with Sources
An investigation is unfinished without talking to people or ‘sources’. Surely you have relatives or acquaintances who know a thing or two about going prices. Speak to them as they are well-wishers and will be patient with your never-ending doubts.Sharma Uncle may bore you with talks about his golf sessions. But he just invested in a second-home thus possessing a goldmine of information.For all you know, it may finally put an end to your quest.