6-Point Neighbourhood Checklist – Before you buy a luxury apartment!
The locality of your house has great impact on the well-being and happiness of your family. In most cases, home buyers pay a premium because they love the location for its peace and security. A neighbourhood and its average apartment quality usually conform to each other. However, the luxury tag might soon become common in not so agreeable neighbourhoods!
In fact, while checking out the specifications of a luxury apartment, you should give equal importance to the attributes of the neighbourhood. So, what are the key checkpoints in a locality before you purchase a luxury apartment?
6 points to simplify evaluation of the locality:
- Future development and growth in the region
Foresight on economic growth of the locality and surrounding areas will build you a perspective of the potential returns. If you are looking up economic indices, you should cross-check by exploring development plans the government is planning. Is there any big infrastructure project in the pipeline? Are companies planning to set up offices in the locality?
There is another aspect of development. It will populate your neighbourhood. The question simply is, “How much is too much?”
- Serene and open spaces
These days many luxury projects are developed by demarcating more than 80% of the property for free space. Adequate space means ample fresh air, lower congestion and a sense of freedom. Locate the outdoor areas for kids and seniors, and scan at the blueprint for how the developer is planning to utilize open spaces.
- Social activities in the neighbourhood
A neighbourhood with the opportunity of socializing and facilities for recreational activities promotes mental and physical well-being. Such localities attract likeminded people, socially-productive businesses and community gatherings.
If you are selecting an apartment, check for active amenities like jogging track, cycling trail, table tennis & badminton courts, club house, etc. May be we don’t think about using them much, but it’s important to keep your life active and hearty.
- Daily conveniences
Check for places to buy daily provisions, bus stops, easily available auto-rickshaws, and accessibility to railway stations and the airport. When you buy an apartment in an upcoming locality, make sure at least a few things in the list are available to make your life less stressful and more convenient.
- Accessibility to hospitals
Easy reachability to at least a couple of hospitals is an important factor for peace of mind in the family. In case of emergency, you should be able to reach a medical facility without any delay. That said, small clinics and medical labs can be added assistance.
- Overall security and crime rate
Paying a huge price for the home and staying in a locality infested with thugs and unruly elements will be unwise. Hence, it’s important to know the security and overall crime rate in the region. Talk to residents in the locality to know their opinions on safety and stay informed about incidents of violent crime in your area. Find out how safe the locality remains throughout the night.
We know that the value of a property depends on the neighbourhood. The Luxury tag is becoming rather common across projects in Bangalore. Whether or not it really is luxury is completely up to the buyer to judge. Take the right decision before investing your hard earned money in an apartment.
Seema Mohta has over 7 years of experience within Real Estate Industry. She has worked with Various Real estate companies and has Good knowledge about , like property trends,Investments in Flats,Sarjapur Road Apartments ,apartments in various localities etc.