You have saved for years. Now you are ready to buy your dream house. Sushil Mantri, Managing Director, Mantri Developers Pvt. Ltd. lays down a few indispensable guidelines that will help you select a home.

Location

• Ascertain which areas of the city are appreciating more than others, while avoiding areas that are highly priced.
  
  
• Look for property in developing areas that will soon come under the City Municipal Authority
  
  
• Select a property that has good resale value and is close to markets/shops, medical, educational and religious facilities, and to your places of work.
  
  
• If you are an investor, check if the area is preferred by foreigners or executives of multinationals. Such areas generally command higher deposits and rents.

Finance

• Check your financial situation. How much loan will banks, home loan institutions and your company provide? Don't hesitate to avail of it. The appreciation in the price of your property over a period of time will more than repay the interest you shell out.
  
  
• Calculate the rate in Rupees per sq. ft. of the home you propose to buy, after deducting cost of additional items like stamp duty, registration charges, extra amenities, car park costs, etc. If you fail to do this, you may find yourself running out of funds to complete the purchase.

Choose your builder with care

• It is always the wisest course to confirm a builder's credentials. Is the company the member of a promoter's association? Are the legal advisors, architects and consultants sufficiently experienced? Has the builder completed earlier schemes? Talk to the occupants to find out more.

Check details

• The size and shape of the rooms should meet your requirements.
  
  
• Do you require a swimming pool and clubhouse? If not, why pay more for their maintenance?
  
  
• Check all amenities - approach roads, floor finishes, doors, windows, entrance door/grill safety.
  
  
• Enquire about availability of water and electricity in the area.
  
  
• Check out the drainage.
  
  
• If you do your homework properly, you're on the way to your dream property. Take time. Take trouble. Talk to people who have recently made a purchase. It's worth it.