I moved to Chennai in April this year to join Satyam Computers. Little did I know that time that I would be looking at buying a house here in Chennai. Well … the main catalyst to this were mainly my parents. Amma felt that now that I am relatively settled in my job, so its time that I got a house for myself and settle down. J …
So we started looking out … There were various things to consider
- The Budget,
- The area of the city where we would like to get the house in,
- Whether a independent house or a flat,
- If independent house, how much land is required,
- If flat, new one or second sale,
And a million such questions crossed our minds …
After some thinking, we felt that we could look at building an independent house. The obvious advantages were independence and freedom to build the house in the way we want. The prospect looked pretty good to me. I was already starting to dream about a cute little independent house with a car park, small lawn and all that! Others also seemed to like what I dreamt so we decided to go all out to look for a land to build our house.
Another reason we were looking at an independent house was because of our past experience. We had a flat in Baroda, Gujarat and when we decided to sell it off, we didn't get a good price for it. This is because the price of flats appreciates for the first few years … and after some 10-15 years, its value starts to depreciate because of the aging of the flat etc. In case an independent house even if the building ages after some years the value of land always appreciates. Keeping this fact in mind we decided that it would make business sense to go for an independent house
Watch out for the next in the series …
2 comments:
hmm...
that is an interesting insight about the appreciation and then eventual depreciation of the value of flat ....
Ya ... You'll find much more insights in the subsequent series of Operation Home ...
:-)
Happy Reading ..
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