- Existing Infrastructures
- Connectivity with your workplace:Among the locations that you have selected, ascertain each one’s connectivity to your work place– while one location may be far off from your workplace, the other location may be closer to the office.
- Ease of commute:Besides the distance from your workplace, ease of commuting between the location and your workplace, is also crucial. If a particular location has a better mode of conveyance then, it makes sense to opt for that location.
- Presence of basic amenities/markets:Once you move into your property, you will need some basic amenities and markets that fulfill your daily requirement. “Proximity to important services, such as healthcare, educational institutions and market place, is a boon,”. Also, check if water and electricity is a problem, or not.
- Safety:Established localities tend to have better safety, compared to new locations. Some locations also have residents’ welfare associations, which takes care of the security of the colony.
- Future prospects
- Residential versus commercial:It is important to gauge, if the location that you are considering, will be developed as a residential or commercial area. A fully residential area with a fair mix of commercial centres, offers good living conditions. However, a residential property in a fully commercial area, may not be a wise choice in the long run.
- Green’ quotient:With global warming now a reality and most metropolitan cities facing problems of pollution, a home that offers more ‘green’ aspects has several advantages.
- Buyers can check if the property is equipped to conserve energy and has enough natural light, as such provisions will help to save power and money in the long run. You should also check the areas surrounding the property for the amount of greenery it will offer.
- Proximity to highway or an infrastructure project:While proximity to an upcoming highway can boost the property’s price, there can be other associated problems. Regular pollution from the busy highway, can cause health problems.
- Social life
- One’s social circle may also play an important role in deciding where you want to buy a home.
- For example: Saravanan bought a house in the Chennai region, only because most of her friends and relatives lived in Chennai.
- Other than this, the location should also offer leisure activities in the neighborhood.
- A location that has restaurants, clubs, gymnasium, multiplexes and other places of social and leisure activities, will attract more buyers, over locations that only have apartment projects.
- Whatever be the final choice, there is always a certain amount of risk due to possible delays in construction and uncertainty in the market. Consequently, buyers need to be thorough in their due diligence, to guard against problems.
