Points that should be considered while buying real estate property

Tips on searching for properties online

Some years ago, the only approach for prospective homebuyers to find a suitable real estate property was to contact a broker. However, thanks to the internet, many homebuyers prefer shortlisting their options online. Of course, personal inspection of a property is still necessary before the final purchase.

Today, more and more people looking for flats begin their hunt online. Best real estate websites are replete with information on newly constructed and under-construction projects across cities. Property portals also provide information on options available in a certain location, the unique aspects of the area and the India property pricing trends.

However, relying solely on property marketing portals is a mistake. The information they provide can be incomplete and sometimes even misleading, says Kishor Pate, CMD, Amit Enterprises Housing Ltd.

For instance, most home seekers scanning the internet are often looking for the cost advantage of investing in an under-construction project. Naturally, the primary search parameter tends to be the price. However, internet searches based solely on price, city and location can generate insufficient and skewed results.

Homebuyers should be aware that while buyingproperty in an under-construction project by a reputed and well-funded developer is safe, an incomplete project by an unknown builder does not offer such assurance. Also, a well-known developer’s reputation is a safety stamp for construction quality and good internal fittings.

Property listings posted by individual brokers dealing in all sorts of projects usually do not provide this vital information. After all, disclosing details such as name of the project and its developer would kill their marketing advantage. However, it is necessary to know these details before one can shortlist options based on quality, investment, safety as well as price.

There are, of course, exceptions to this information gap. For instance, many large real estate brokerages have exclusive project marketing mandates with reputable real estate developers. Property listings by such brokerages do tend to provide all the necessary details.

Real estate marketing portal listings are usually the first search results to show up during an online property search. This is because these platforms invest heavily in search engine optimization to attract internet traffic. However, no online search for an under-construction property is complete on the basis of just these results. Aspiring buyers also need to visit the websites of reputed developers.