The real estate market all over India has seen positive changes over the past couple of years in terms of a higher number of the premier and luxury properties being built as compared to before. As the purchasing powers of people have been on the rise, the demand for luxury and ultra-luxury homes have been on the rise as well.
Even though this is still considered a niche segment, promoters and developers are going to great lengths to provide value for every dime spent by homeowners by providing them with the most modern interiors, electronic systems, amenities, etc. This has taken the amount of luxury these homes offer to dizzying new heights.
But as everyone knows, everything comes at a price, and while the amenities may be the best, the cost of these luxury properties is no small sum of money. These luxury properties bring side benefits like good neighbors, less noise and sound pollution, healthier lifestyle and a sense of status in society. It would be unwise to go ahead and book one of these properties without checking up on a couple of other factors as well. Given below are some of the factors that one needs to keep in mind when purchasing a premium villa.
Look and choose carefully
There are a lot of instances when the tag ‘luxury’ or ‘premium’ thrown around to catch the attention of prospective customers. This definition of luxury may vary from person to person and what is being offered by one developer may not be offered by another. It is best to look up the reputation of the developer to know whether it is worth investing or not. Apart from this, one should personally look into the amenities and extra features that are thrown in to make the property a luxury one.
India has traditionally been a very price sensitive country. Even today, when someone is paying a premium for luxury cars, they still want to know how much the mileage of the car is. This is, even after knowing the fact that it is not its mileage prowess that gives these vehicles that price tag. If the customer feels that they are getting good value for money, then they go ahead with their purchase.
when one buys a villa in east Bangalore, there are a lot of costs that are recurring and not a one-time payoff like the initial cost of the property and the taxes associated with that period. People often forget to check on the added-on costs of a property and end up spending much more on things like maintenance costs of the property since such homes require a high cost for the general upkeep of the place.
If one keeps the above factors in mind, and there are no other legal factors involved which will cause problems in the future, then it makes it a good decision to buy a luxury property since these properties appreciate at a good rate. If one of these properties need to be sold, then this can also be done on a faster basis as compared to other properties as there is good demand for such luxury properties.
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