One of my friend was searching for his first apartment. Though I have asked him to reconsider his decision as he wanted to buy now or defer it for some years. But he is adamant to buy now. Though I have shared all the information which I could on whats the difference buying on loan and staying in rent.
PC: Pixabay.com
But since the home buying is such a personal decision, no talk can actually change your mind. So what I have advised him to go for the reputed builder even though you have to 30% extra. The problem is apartment life is not that great and max to max its 30 to 50 years. But if the builder is good, then it can last upto 100 years. So think about it which property will appreciate more, 30 years property or 100 years property. You said it right, it's 100 years.
Now the problem with normal builder is that they try to reduce their quality and thus they have to Reduce the price to attract more buyers. When the price is low people try to buy that as soon as possible but after say 5 to 10 years, the problem starts. The problem might be or might not be visible from outside, but the problem can be felt by the owner. And now when he tries to sell the apartment, he might not get value back as he should have been because of the problems.
Now this is not the case with the big and reputed builders, their apartments are like hot cake, and everyone wants to have it even though it costs little extra. And thus my friend has booked an apartment with Godrej and thus I would say that's the best thing to do because then it guarantee that the money will appreciate in future.
And that's what I will suggest, if you are buying apartment then buy it from the reputed builder because you will get peace of mind as well as your money will appreciate.
