The property market of Bangalore is one of the most promising markets of India. In my previous blogs I have discussed at length about the future and the present market scenario. The market is evolving and growing at a tremendous pace. Several realtors, consumers are queuing up from different parts of the globe to get their share of pie from this Mecca of real estate.
As a buyer, I believe that we should not only check the minute details of the property and also the keep the most important factor in mind which often gets lost under the heap of papers and that is the maintenance of the property. The maintenance of the property which you are buying is a recurring cost which you have to shoulder all throughout your life. It is that one sticking point that will always bother you and will topple your monthly budget.
A plethora of maintenance charges which are dovetailed with the actual cost of the property. If you are planning to live in a posh, suave, apartment in the heart of Bangalore then be ready to bear the brunt. You have to shell out money for all possible utilities such as plumbing, gardening, repairs, security and many more. In a city like Bangalore you will be charged on the amount of water you are using every day. Apart from this your expenses will soar with the additional charges which you have to pay for the painting of the flat so try to go for that painting drive collectively. To cork the shooting power prices you can also opt for solar power which will surely help you to reduce the price. Renting out some of the empty spaces around the property will also help you to collect some amount of money at the end of the month.
The realtors are luring the buyers with several eye candy offers, which also have a massive hidden maintenance cost which you and I as a buyer have to carry forward in the future. So he cautious and understand and read between the lines and then invest in a property. Bangalore as a city comes under the threat of floods every year, so being a buyer, you must do a proper survey of the area, because if the area is flood prone then you must keep a proper budget in hand to deal with the monsoon woes.
Do a proper background check of the realtor which will also help you to understand the nature of the property he is building. If he is not known for his good work, then never jump into an agreement. Because you will have to face the fallout of the bad work though out your life.
Create a fund for proper maintenance before buying a property must ask and understand that whether the society has any such provision which will help you minimize your expenses and at the end of the year there should be a proper audit of the entire maintenance cost. The entire job must be handled by a professional agency which will further reduce your headache.
As a buyer, we must keep these small things in mind, which will surely help us to control our soaring future maintenance budget.