8 million-dollar questions, answered!

Make your home buying easy with eight simple questions.

Source: Moneycontrol.com

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A man once visited a famous astrologer and was granted one question. The silly man went ahead and asked "Why only one?", and thus lost the chance of a lifetime. The art of asking the right questions is under-rated. Especially when it comes to the biggest decision of your life -- your home. Some might argue that the biggest decision is your life partner but if you're a good boy (or girl!) you will go with your parents choice, no questions asked!

moneycontrol.com team spoke to Surendra Hiranandani, MD and Founder, Hiranandani Group of Companies and he urges you to ask eight pertinent questions, and also tips you off on how to go about finding the answers!

1. How big a house do I need?
This depends on your individual needs. If you're a family of five seeking more room then choose your second home with space, additional rooms in mind. If you're a young couple buying your first nest then you can settle for a cosy place for two - that is if you're not planning a family soon.

Once you've clearly figured out your needs, translate them in terms of built-up, carpet area and now the new concept of super- built-up area. Bear in mind -- the ratio for built-up can be as low as 15 per cent for an old construction and as high as 28 per cent for new constructions while super built up is a phenomenal 40 per cent! Also make a note of the budget you will need for the same.

2. Which is the right area for me?
Here again, ask yourself -- do you want to spend half your life commuting? Or would you rather live in townships or residential complexes that are far from the dust, grime and noise of the city? Or are the happening suburbs with their attractions such as malls, multiplexes, luxurious homes more your style?

Keep the investment point of view in mind also. Suburbs offer value for money and investment appreciation.

3. What do I look for in a neighbourhood?
Now that you have the area, narrow it down one step further to a neighbourhood. Your immediate neighbourhood will decide how hassle-free your existence will be. Look for proximity to doctors and clinics, shopping, transport connectivity, schools and hospitals etc.

The modern homebuyer also checks out his entertainment and recreational options, which could include bowling alleys, game centers, sports facilities, shopping malls, food courts and restaurants, for a better life.

4. How much importance do I give amenities?
Next in order of priority are the amenities in your building. As dull as they sound, these things can be major reasons of concern if they are absent or insufficient. Starting with water and power supply, look into access roads, parking space, safety and security and then perks like children's play areas, gardens etc.

You must carefully verify the construction quality and compare a new construction with other existing projects by the same builder. This way you can be sure that what you get will be the same as what you see in the sample flats.

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