Thrissur is an ideal place to settle down for many reasons. It has all the trappings of a modern city, and yet is green and close to nature too. If you like to live in a spacious house but still want neighbours close by and enjoy more security, we recommend purchasing a gated community villa. It combines the advantages of an apartment and a standalone house.
Let us look at the many Benefits of buying RERA registered villas in Thrissur:
- Living within a gated community offers improved security to residents, especially when compared to those in standalone homes. Visitor entry is monitored closely, and traffic is regulated. Children and seniors can fearlessly move about without speeding vehicles or intruders bothering them.
- Living in your villa affords greater privacy than living in an apartment, and you have more space to yourself, even outside the house. And yet, neighbours are close by in case of emergencies.
- When there are several villas within gated premises, you can get to enjoy community life. You can find people of your age group or with common interests, form groups, hold classes, and so on.
There are several villas in Thrissur, available for sale, so how will you decide which one to purchase?
You have to be aware of certain things and weigh them carefully. Here, we provide some handy guidelines.
Factors to consider before buying villas in Thrissur
Are you financially prepared?
Finance is a critical part of a real estate transaction. You must set a proper budget for the purchase of your villa, and then look for villas in that price range. Take stock of your monthly income, expenses, your current investments, savings, and loans. The budget should be prepared after considering all these factors.
You may need to take a loan. In that case, consider what amount you can comfortably pay each month as instalment; how much down payment can you make? After studying all those factors, you can decide the amount of the loan. Your budget should be realistic. You should not fall into financial difficulties later on.
Pro Tip: the cost of your villa should include items like brokerage, maintenance charges, association fees, property tax, etc. You should also think of additional costs like the cost of moving, purchasing new furniture, appliances, furnishings, and so on. Apply for the lowest possible loan amount to get lower EMIs and shorter tenures.
Get Pre-Approved
Obtaining pre-approval can save you time and effort. You won’t have to convince lenders about your creditworthiness later, and it will help you get to the priority list of lenders over other potential borrowers. Preapproval can also help you negotiate better terms for your loan, and loans to purchase from the best builders in Thrissur.
Check your Credit Score
Credit score is a three digit number that tells lenders what your creditworthiness is. A poor credit score says that you are a risky borrower, and lenders will either hesitate in giving you loans or quote high interest rates. You can check your credit score online on sites like CIBIL, Experian, Equifax, etc. Take steps to boost your credit score if it’s not up to the mark.
Check the Location
Location is everything when it comes to your residence. You need a safe and clean neighbourhood, and one that has easy access to main roads.Make sure that essential amenities like markets, grocery stores, pharmacies, and services like repair shops and so on are close by. You should not have to travel far to buy daily necessities like dairy, vegetables, fruit, eggs, fish, meat, and so on. Ideally, primary healthcare and education facilities should also be within easy access..
Inspect the Property
It is vital that you check quality when buying villas, and this can be done only when you physically go and inspect them yourself. Only when you are convinced that the layout is suitable to your needs, and that the quality of the overall construction, paint, tiles, fixtures, etc. is as advertised and sufficiently good, should you take a call about purchasing the villa.
Seek Professional Guidance
Consult real estate brokers, lawyers, and financial consultants so that you can get the best possible villas in your preferred price range. They will also help you verify that the legalities are in order and that all documentation is up-to-date, and that there is a clear title. Brokers will help you understand the market trends and values, the builder’s reputation, and so on. Finance experts will help you plan your finances properly so that you are not overly burdened.
Reviews from Current Owners
If you can, talk to some of the current owners of the villas built by the builder whose projects you are considering. You can get information like whether timelines were adhered to, the quality of construction, the amenities offered, and anything else you want to know.
Verify RERA Registration
It makes sense to purchase a villa that has a RERA registration. The RERA Act was established to ensure that home buyers are not defrauded, and that they receive their houses within the time promised. To make sure that the money collected in advance does not get misused, builders have to place those funds in a unique escrow account for each project. Withdrawals can only be made for the purpose of that project.
Conclusion
Now that you know the factors to consider before buying villas, don’t delay further! After all, the prices of real estate properties keep rising by the day.
Check out elegant and affordable villas by HiLife Builders, one of the most reputed builders in Thrissur. All our projects are RERA approved, and we have chosen the best residential localities in the city for your convenience, comfort, and safety.