Real Estate Expert Tips When Buying An Apartment

Written by: Md. Noor- E-Alam Siddike

When you have decided it is time to accomplish your lifelong awaited dream of owning a home, you might feel flustered. After all home buying can be a lengthy process and a huge investment decision. It is common to be weary thinking if you are placing your hard-earned money in the right hands. Here are some real estate expert tips for you to remember when looking to buy an apartment in Bangladesh:

On time delivery

In the context of Bangladesh real estate, as an apartment buyer, perhaps the thing  that most  worries you is the timely handover of your apartment. A lot of plans and dreams are entangled with that particular date; it is almost as meaningful to you as your birthday or anniversary. There are several developer companies in Bangladesh who fail to keep their commitment, so it remains up to you to carry out due research on the company’s reputation, trustworthiness and reliability. Learn from your own references, see the company’s years of experience, customer testimonials etc to verify.

Dispute free land

Sometimes you might fall in the hands of a fraudulent apartment seller or developer company by buying an apartment on a disputed land. In that case buying an apartment can turn into a nightmare leading to troubles in registration, mutation, etc. It is best to be prudent beforehand and check all the land documents such as CS, RS, Land Tax Documents, etc to verify that you are buying the property on a dispute free land.

Quality of construction

Another important thing to check is the construction quality of your building. You should ensure the building materials used are of high standard and construction procedure is carried out under expert supervision. During inspection make sure you thoroughly check the paint works, tile works, plumbing, fittings etc. Otherwise, you will have to incur huge maintenance cost later on. Additionally, you should also note that your building construction does not violate FAR value which is the floor area ratio and has been constructed as per RAJUK/ CDA approval. Before buying you should also see the RAJUK/ CDA approval to know that the design has been approved by the concerned authority.

Value for your money

Apartment pricing is obviously one of the imperative factors when buying an apartment. Real estate experts suggest that you know what you are paying for. Know the current market price of apartments location wise; check out the brand reputation of the company and so on. You should also confirm minute details like common space size and apartment specifications so that you are not deceived at any stage.  Reputed developer companies also hold a no price escalation policy which means after you don’t have to pay a higher price to get the home of your dreams.

Customer service

When you are buying an apartment in Bangladesh, you might think customer service is only the phase that lasts until you have bought an apartment, but customer service of a company speaks a lot about company’s ethics, values, etc. Ensure whether the company is responsive, professional and courteous to your wants and needs.  A reputed developer company will always put your wants and needs first on their priority list.  You can also check out CSR activities or customer engagement programs to verify if the company is simply business oriented or genuinely cares about the welfare of the society in general.

Options to choose from

There are many kinds of real estate properties to choose from –such as ready flats, ongoing projects, duplex, simplex, township community etc. As a property buyer, you might have your own preferences when it comes to the home of your dreams. Instead of searching for apartments from a number of different developer companies, it will be less time consuming to buy from one who offers a variety of options. Some reputed developer companies will also allow apartment customization to accommodate your needs. Increasingly, apartment buyers are showing interest in township community; you may find that this type of properties fulfills all of your lifestyle needs by having features like community hall, playground area, swimming pool, BBQ zone and much more.

Loan facility

As an apartment buyer in Bangladesh, you might require financial assistance in buying your apartment with home loans. In that case, you can find out if the developer company has tie-ups with any banks or other financial institutions. It will be easier for you to qualify for the loan if they have tie ups. They will also have special offers with low-interest rate to facilitate apartment buying.

At the end of the day, buying an apartment in Dhaka or any other location can be a cumbersome ordeal so make sure when choosing your dream home or the company you are buying from, you pay ample consideration to every minute detail to avoid buyer’s remorse.