Finding out the best home for yourself

Ask the baby boomers in India, they would ‘tch-tch’ your decision of staying in a rented place. It’s always has been to buy your own place, and pay EMI instead of rent.

But this is no longer the truth for the Indian real estate market. Market studies have revealed that renting a house in Hyderabad, Ahmedabad and/or Kolkata is much cheaper and cost effective. Additionally, majority of demand for homes in India is from the middle class segment, whilst the developers are constructing the premium flats and apartments. To give you facts, currently, more than 69% of the unsold homes in Mumbai cost over Rs. 1 crore or more. This means unsold inventories and eventually crash of the real estate market in India. With buying safely out of option, here are few things that you can keep in mind when making the move to a new city and a new state:

• Getting a job: Before feverishly searching the online portals for accommodation, it is very important to get a steady job. The city is new, therefore, commute would always be a problem. For example, most people in Bangalore, like staying near to their work places mainly for the convenience of traveling. Therefore, before looking for a flat for rent in Bangalore, figure out the areas nearby your job location and then move in. 

• Looking for healthcare related services nearby: Most probably, you have moved in to a complete new state which has different weather from your home town. Additionally, you would be staying alone or in PG with strangers. The best thing to do is figure out nearby healthcare centres, hospitals, and clinics. For example, if you are looking for a home in Faridabad in the Delhi NCR region, make sure health facilities such as leading Hepatologist in Faridabad or General physician are nearby. And while you are at it, the house should be located at comfortable walking distance from the supermarket, the bazar, ATMs, clinics, etc. 

• Getting to know your own place: You have moved in a complete new city. Take some time to know the place. Don’t select the first flat that you see. The best way to understand whether the flat that you have chosen does not have any disturbing elements (like a noisy neighbor, bad neighborhood, etc.) is to visit the place at least twice (once in the broad daylight and another in the night) before taking the final call. 

• Strong bond with the owners of the flat: Once you have understood and done all of the above criteria, be sure to maintain a good rapport with the landlord. Under no circumstances should there be trust issues. They should be sure of handing over their property to you, and you should be able to take care of the place like your own. Ensure to ask your landlord about any additional costs that might be incurred before moving.

• Keep additional money: Lastly, keep some additional cash in hand. This is important as it is not only a new place, but you might need some last minute supplies.

Once you have followed this check list, you are ready to move in.

Finding homes can prove to be a taxing affair, especially if it’s the first time or to a city in which the majority of the population speaks a different language. Take the help of friends and colleagues who stay there and have some patience.


This is a guest post by Alvira Rehan