Things To Check Before Buying A Luxury Apartment

Indian real estate industry may be moving slow due to slow economy. Yet, there is no dearth of people in the upper class looking to buy luxury properties. While there is a good demand for luxury properties, builders use different tactics to woo buyers. However, the term ‘luxury house’ is often misused by many developers. Properties with even the basic necessities are often termed a luxury property. Several buyers also fall for marketing tactics such as flashy brochures.

Here are few more things a buyer should look out for, when buying a luxury apartment.

1) Location

Whether one is buying a luxury property or an ordinary property, location makes a big difference. If you are planning to buy a property in the heart of the city, then the traffic snarls make it a nightmare than luxury. Most people who buy a luxury property look for peace of mind. Hence, this may not be the right location to buy a project. Moreover, such property may just be high-priced and not necessarily “luxurious” in terms of amenities.

2) Accessibility

While one does not want to buy a luxury project in the middle of a busy street, it also doesn’t make sense to buy a property outside civilization. Easy accessibility is very important for an apartment or villa. It may have all the amenities, but if it is not easily accessible to your work-place, the nearest shopping centre or the hospital, it may not be worth buying.

3) Amenities

Amenities make a difference if a project is to be called a luxury project. An apartment with basic amenities such as a kitchen, bedroom and a hall cannot be called a luxury property just because it is high-priced. Other amenities such as spacious parking lot are important. While there is no thumb rule with respect to parking, the norm is that the number of bedrooms is equal to the number of car parks. You should also look for other parameters such as provisions of the pump room and the fire engine movement space.

4) The look and feel

The project may have all the amenities of a luxury apartment. But, there are also subtle features which makes a person feel that it is indeed a luxury project. For example, a luxury apartment should not be facing a garbage dump. It has a negative impact on the buying process. Also, the floor-to-ceiling height must be at least 12 feet in order to get a good impression about the apartment interiors.

5) Project Density

Project density gives the number of people living in an apartment building or in a plot. Ideally for a luxury project, there should not be more than 60 families in an acre of project. More people in the plot will crowd the amenities. This will remove the charm of a luxury apartment.

Hence, if you are considering buying a luxury apartment, make sure that you go beyond the flashy brochures and advertisements, and do a good research on all these factors before you buy a luxury apartment.