Buying a House? Consider these factors…

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Buying a House? Consider these factors…

Every person cherishes a dream to own a home. Most people work a large part of their lives to successfully realise this dream. Traditionally, it has been the ultimate parameter to establish success and security. Aditionally, a home is the absolute gift One can give himself and his family.

In recent economic conditions, a majority of Punekars are hesitant when it comes to purchasing property. Higher interest rates and Pune property rates are some of the contributing factors.

In times of uncertainty such as this, here are some tips that are worth considering before you proceed with buying a property in Pune:

  • Price

The cost of your flat in Pune is perhaps the most important factor when it comes to looking for a house. Certain properties in Pune cost more simply because they are centrally located in the city. It is of note to observe that sometimes, despite the higher pricing, the homebuyer has to put up with traffic congestion, air pollution, lack of greenery and inadequate parking facilities.

Those who are looking for a reasonably priced flat in Pune will only find it in the further out locations. Many of these new areas do still have some greenery and less traffic congestion and pollution. However, in time these areas will also succumb to the hammer of indiscriminate development which has been the hallmark of the Pune real estate market.

  • Location

Location is one of the most important factors to consider, because it will say a lot about your purchase. Do not forget that the location dictates the price of your new home in Pune. For example, a 3 BHK flat in the middle of nowhere will cost you a lot less than a 1 BHK in the middle of the city’s commercial district. Some areas are called prime because of their central location. They are close to the places that we need access to, such as schools, healthcare facilities and shopping centres. These places cost a lot more because they offer all of these.


  • Security

Security is a major concern in a fast-developing city like Pune. Your choice of location for your new home also reflects on the safety of your family as well as your property. Security is definitely a very important consideration when you purchase a new home. It is sensible to buy a property in a society which offers round-the-clock security.

  • Appreciation

While central location is a big driver for property prices, central locations are also the most volatile in terms of price fluctuations. This is because the property market in city centres is more often than not driven by investors rather than genuine end users. On the other hand, there are no other price drivers in a congested, overdeveloped city. Very little can be done to enhance the infrastructure and therefore the lifestyle quotient of property owners.

Though prices stagnate in the city centre for these reasons, property valuations for properties in developing areas such as Wagholi, Kharadi, Phursungi, etc. increase because of the better infrastructure, more wholesome environment and the steady – yet controlled – addition of value-adding projects such as office complexes, malls, schools and hospitals.

While buying a flat in Pune, it makes a whole lot of sense to consider the purchase from all angles. In short, keep in mind what kind of standard of living you wish to enjoy in your lifetime and also pass on to your children.

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