India real estate market
Birds of a feather flock together. This is true of both the animal kingdom and the human realm. How much do your neighbors matter in the residence selection process A discussion on this topic is worthy of a Real estate-related forum all for itself - it is that important. Think about it for a minute. After all, the ambience of a home doesnt depend only on its beauty and amenities. In actual fact, the people next door do play an important role in your lifestyle. Let me illustrate with a personal incident.
Many years ago, we were looking for a flat here in Bangalore. It was to match our familys requirements as well as our spending power at the time. I would have settled for any of the first three flats we inspected I liked their look, had cordial relations with all three builders, and basically wanted to settle down as fast as possible. As far as I was concerned, no further discussion was necessary.
My sister had other ideas, though. Her perspective went beyond the physical and the convenience aspects she wanted a suitable neighborhood, as well. When she heard that a doctor lived next door to one of the apartments, she more or less made up her mind that this is where we would live. Her practical mind probably conceived of neighborly (free) medical advice in times of need, and generally liked the idea of living beside a doctor. I didnt care one way or the other, so we initiated the acquisition process but stopped it abruptly when we found out that the doctor was a Ph.D, and only held an honorary title.
It happens all the time we do not consider the large picture in house hunting on the Realestate market. All things considered, the matter is far more complicated than it appears at first.
Social dynamics of neighborhood structuring
Take the social angle. Though it may not be a priority, a decent neighborhood definitely contributes to the overall well-being at home. But is this factor taken care of by simply buying or renting a flat in one of the more reputable schemes in Bangalore I had a discussion on this with some close associates, and the consensus is a firm No.
It is everyones dream to own a flat in a prestigious housing project some day and all classes of people save up to fulfill their dream. With todays enhanced pay scales, this eventually becomes a possibility in most cases. But does this mean that the people who have saved all their lives to buy the flat next to you necessarily have anything in common with you If you are looking for some peace and quiet after a hard day at work, how would you like it if the emancipated couple next-door parties noisily with their friends all night Sure, they have the right to live there after all, theyve paid as much for their flat as you have for yours.
Natural selection
Looked at from this angle, a little more thought into choosing ones home would be appropriate. Bangalore, for example, is a true melting pot of various cultures. A close look at its social structure reveals that people from specific strata and professions tend to congregate in certain areas of the city. The selection process may be broadly based on different backgrounds and monetary factors, but gets even more refined after that. In many areas, one will find an overwhelming majority of medical practitioners, IT professionals, educationists and theologians.
This is noteworthy for the social dynamics involved birds of a feather DO flock together. Does this mean that such sub-communities lack broadness of social horizons I dont think so. It simply means that we have an inherent need to fellowship with like-minded people, and that there are numerous parameters we take into consideration.
In a Practical light
It would be noble to claim that one is personally above such artificial restrictions, but the operative word here is personal. You have the needs of your family to think of, too.
If you have young, school-going children at home, it is unlikely that a crowd of extroverted college students living together away from their homes would make for suitable neighbors.
If you work night shifts, it may be a decidedly bad idea to choose to live in an area of criminal notoriety both for you and your family. After all, it takes very little for a very general argument between neighbors to deteriorate into something more sinister.
There are other guidelines I would like to place.
Living beside a flat owned by an absentee landlord can be disadvantageous. Such a property owner can rent or sub-let his flat out to a very mixed succession of occupants, and you will end up never getting used to any of them. Nor can transient inhabitants be regularly screened for appropriate behavior and general conduct. You would much better off living to someone in an established profession. The neighborhood factor is, in fact, so significant that many conscientious builders and agents in Bangalore now pay close attention to it while selling or renting out flats Real estate.
In conclusion, man is a social animal with inherent preferences and dislikes that cannot be totally ignored. So while planning on buying or renting your own place, do consider the old proverb and make it possible to love your neighbor as much as the new residence and the Realestate.
How to choose a Realtor
You should be careful while appointing a Realtor. It is always of great use if you can trust the Real estate professional and can communicate with him/her freely. Mutual respect for each other can come in handy for both. In order to have an idea of an agents skills and level of knowledge, you may ask questions about his/her experience, area of specialization, client references etc. The right selection of an agent will always benefit a home-seeker.
After all these steps, with or without the help of an agent, you need to transfer medical records, register for schools, etc. It is then time to sign the final loan documents and take in a cashier's check to pay the remaining down payment and closing costs. You are given the keys to your new home as soon as the county recorders office transfers the title from the sellers name to yours. You are then a Marylander.
Other articles
