Tuesday, 24 October 2017

My Personal Experiences while Buying a New Flat/Apartment

“The ache for home lives in all of us, the safe place where we can go as we are and not be questioned.” — Maya Angelou

When I decided to buy an apartment/flat, I had lots of concerns about funds, prices, new location and community. I stayed in a single bedroom rented apartment in a place for almost a decade. Hence, I developed an emotional attachment to the place. People revered and respected me a lot in the locality despite being a tenant in a single bedroom apartment. I always minded my business without interfering into others’ affairs. However, I helped people whenever they approached me by offering career guidance free and inspiring them with appreciation.

My Personal Experience to Buy a New Flat

“Make sure everyone who works with you or for you, feels the need to tell others about the incredible experience.” — Chris Murray

I experienced unique emotions and feelings when I was planning to buy my dream flat. I realized that I love to be in the comfort zone. I know that I stay in a mass area where there is no scope and appreciation of property. But I must move in my life to another location permanently one day. Hence, I decided mentally to move to another location.

I researched about the areas I wanted to move based on my economy budget. I searched online to find out the properties falling within my budget. I physically went to the locations to search the properties. I came across real estate agents with many false promises with wrong information. I shortlisted a few agents. I moved along with them physically to search the properties. I shortlisted a few properties. I went to the buyers to negotiate. I found that the prices given by some agents wrong. As a result, the negotiations failed. In some cases, the properties are litigant. Some of them are not Vaastu compliant. Once again, I searched new properties. The agents talked about the properties from other locations falling within my budget. I physically went to see them. Most times I found the information given by the agents is different from the information shared by the sellers. I did not appreciate such irregularities. In some cases, the sellers did not want to pay commission to the agents. They wanted to have a direct discussion with the sellers which is not possible always.

Dos and Don’ts in Buying Your Dream Home
  • Be clear who pays the commission to the real estate agent or broker whether the seller or buyer.
  • Negotiate directly with the seller.
  • Check the documents physically and get them verified by professionals and legal experts.
  • Check and recheck the facts and figures to avoid ending up in a fiasco.

Remember that land value appreciates while the construction value depreciates over a period of time. If you want good appreciation, invest in land, not in apartment. If you don’t have any flat, then buy one flat because owing your dream home is like feeling at the top of the world. Kenny Guinn rightly remarked, “There is something permanent, and something extremely profound, in owning a home.”


“In the real estate business, you learn more about people, and you learn more about community issues, you learn more about life, you learn more about the impact of government, probably than any other profession that I know of.” — Johnny Isakson

It was a great experience meeting new people, communities and understanding their perspectives. I built new connections and came to know the psychology of builders, agents and landowners. But I did not unveil my identity as an author of 36 books and a professor with a PhD in soft skills. I was concerned that people perceive me differently based on my professional profile. Hence, I disclosed everywhere that I served in Indian Air Force and am looking for a new flat to settle down in my life.

“The best time to buy a home is always five years ago.” — Ray Brown

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Life is great!

Professor M.S.Rao
Founder of MSR Leadership Consultants India

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