Busting 5 Myths about Buying an Apartment in Chennai

To buy or not to buy? This is one question that bothers people who are trying to find a new house for themselves. One can easily find apartments in Chennai that offer them everything they need. However, the dilemma of buying a residential property comes from myths that have been spread around. Let us bust the myths about buying an apartment in Chennai so that people can buy the property they desire.

1. Renting Is a Better Option

One of the most common myths about buying an apartment anywhere is that renting is a better financial option. The rental prices in top-tier cities like Chennai are higher than the EMIs that one has to pay when buying an apartment. One can easily stretch the repayment tenure for the home loan and pay the EMI without any hassle. Additionally, buying the apartment can offer advantages like tax exemption and an appreciating asset in the future. 

2. The Neighbourhood Does Not Matter

People say that the neighbourhood does not matter as long as the apartment is good. As most real estate investors would agree, this statement is absolutely false. Neighbourhoods like Porur, Guindy, Nungambakkam, etc., are popular among real estate investors as they promise high returns in the long run. Moreover, the neighbourhood decides the safety of the people and the facilities available for the residents. 

3. A Reputed Builder is Not a Prerequisite

If a township is not constructed by a reputed builder, will it be a good investment? The answer is no because there is no guarantee of the safety one will have while living in such a building. Hence, it is essential to look for a reputed builder who will ensure that their project is safe, approved by the authorities and offers great returns.

4. Pre-Built Apartments are the Right Choice

Many people believe that only pre-built apartments are the right choice for them. However, builders in Chennai offer a lot of options to home buyers that are well-kept secrets. Several ongoing projects start their possession period and offer apartments at lower prices than pre-built apartments. Not only this, under-construction projects have a chance to offer higher appreciation once they are completed. Additionally, one can customise their apartment while it is being built, which is not possible in the case of pre-built apartments.

5. Every Township Offers Similar Amenities

The types of amenities and facilities one can get in a township differ due to so many factors, the biggest being the builder of the township. Some townships may have exceptional amenities, while others may only offer basic ones. If individuals choose a reputed builder, they will get premium amenities in their township as well as the apartment. The best practice is to go through the amenities the township offers before buying an apartment.

By busting these myths about buying an apartment in Chennai, potential home buyers can invest in apartments without having doubts. One can choose a well-known builder while buying an apartment so the chances of disappointment are minimal.