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08/08/2016 11:32
Golden rules of buying property
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roperty is the biggest investment for most people and it needs to be handled carefully. There are seven golden rules that could help a property buyer make informed decision, says a top property broker. Kunal Puri, Managing Director, La Capitale Real Estate, advises property buyers to be more observant and careful about every aspects of the property, be it location, views, reputation of the developer, quality of finishing, layout, amenities, history of the property and the agency that is handling the property, among others. “Everyone talks about location, location and location, but not many people knows why ‘location’ is always repeated thrice. About 80 per cent of the buyer stops at 1st location and 50 per cent at 2nd location, only 25 per cent goes to 3rd location importance,” he says. “Not only the main location is important; but also the location of community and the sub-location of the property is extremely important. I know all the key sub-locations comes with a premium; however we forget that if we increase selection of communities then the key sub-locations also increases.” The view from the property is another extremely important point. “Most of the people always relate view with the best view in the property. However the view is not only golf course, Burj View, Lake View; it also
Kunal Puri, Managing Director of La Capitale Real Estate, offers the best advice that money can buy – for free!
incorporates “not blocked view”; not looking directly on to a chiller unit or power substation. Some-times in a cluster of buildings the desert view is preferred over the view towards pool which is overlooked by all the buildings,” says the expert. Credibility and reputation of the builder is also crucial.
“Whether you are buying a ready property or off-plan, a renowned developer always gives an edge over the rest,” he says. Surrounding environment and amenities are also very important in choosing a property to live. 'The prospectus of amenities not only limits itself to the
INTERVIEW
facilities inside the community, but also to the surrounding areas. The easy way to understand this is, one should not be only looking at pool and park, barbecue area, convenient store; buy also look at the parks, play centers, hospitals, schools, clinics, gas station, community center, malls, restaurants, etc.,” Puri says. “Another key factor which has taken the center stage in decision making of any buyer is layout. As the market gets more matured, so does the needs and demands of buyers too. By layout I just don’t mean the usage of built-up area or the way the property is designed in terms of living room, kitchen and bedroom. Nowadays the buyers are also looking at the brightness in property and if the living room is sun-set facing or kitchen is sunrise facing or master bedroom is away from other bedroom balcony to ensure complete privacy.” Property history is a very important factor, yet most of the buyers don’t really look in this as they are un-aware. However, finding the right property agency or broker is very important. “A very difficult aspect for every buyer to digest, but to make a sound investment in real estate everyone needs the right agency,” Puri stresses. “It’s like to get cured from a sickness one needs a good doctor & to find a good doctor one has to go to a good hospital. “Well to sum it all, a little preparation and knowledge upfront can save you from a huge headache later on. So never hesitate in by asking key question ‘Why I want to buy a property’.” g Gulf Property
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