Planning to Buy a Property Online? Know The Complete Checklist

It is the dawn of a new digital era. When you can work, attend classes, bank, and shop online, why not invest in real estate? A new digital era is only getting started. When you can work, attend classes, bank, and shop online, why not invest in real estate from the convenience of your home? To buy a property online, you must have a clear checklist. Here is a handy guide to help you make the best of your investment.

Checklist for buying property online

• Know your location – 

When you log in to an online portal to search for properties or apartments for sale, the first parameter for shortlisting is the location. You must decide on a neighbourhood or suburb that is well-connected to your workplace and major hubs in the city, has an excellent social infrastructure (schools, colleges, sports academies, medical facilities, shopping centres), and has the potential to grow your asset value.

• Budget matters – 

The next parameter to shortlist listings on an online portal is the budget. In many cases, the budget is the key factor that can decide the location and size of the unit you opt for. As a homebuyer, however, you may want to consider the following. You can opt for a 2 or 3 BHK apartment in Borivali for the same price as a 1 BHK in Bandra or Juhu. Your flexibility, in this case, may determine the size of the apartment and many of the facilities available in the project.

• Financing and home loan – 

As a homebuyer, you can apply for a pre-approved home loan if you have a good credit score and a long-standing relationship with the bank or the lender. However, experts advise that preapproval or the home loan application should be made only after shortlisting a few properties. This is because the process of applying for a loan may reduce the credit score of the applicant. So it is a good idea to be clear about the discounts or special rates applicable and the terms and conditions of the loan as well.

• Developer reputation – 

When you set out to buy a property online, the builder's reputation may be one of the most important things to check. A property is a major financial investment, and you will want to invest in a developer with a track record of delivering high-quality projects on time. This trust factor becomes all the more important when house hunting in the virtual world.

• RERA registration – 

The Real Estate (Regulation and Development) Act of 2016 offers homebuyers several legal safeguards and recourse to legal remedies if the project is not delivered according to the promised timeline. If you invest in an under-construction property and the final unit does not match the promise or the contract, RERA acts as a regulatory authority in your interests. When investing in a property, both online and offline, it is important to check the RERA registration of the project.

• Virtual tour – 

One of the advantages of buying a property online is using the virtual tour or remote viewing facility that will help you save time and effort. Drone visits or virtual walkthroughs are a good way of shortlisting projects from the comfort of your home.

• Professional help – 

When you buy real estate online, it is a good idea to look for a portal or a platform that offers expert guidance with document verification, registration process, etc.

Is it a good idea to buy property online?

Buying a property has traditionally been very stressful, with several pitfalls to avoid. With digital technology taking over, however, it has become easier for the prospective homebuyer to look for listings from reputed builders and buy a property online. Blox is a revolutionary platform that homebuyers in Mumbai and Navi Mumbai must explore.

Buying through Blox 

Blox is a technology-backed, customer-centric online platform that brings you verified listings directly from trusted developers. Every listing on the site is RERA registered. You can search and shortlist based on parameters such as suburb, neighbourhood, type and size of unit, developer name, etc. Your dedicated Blox relationship manager is an expert in the neighbourhood specified by you and will handhold you through the buying process, making it stress-free. Furthermore, your relationship manager can take you on a virtual site tour before you shortlist a few projects for a physical site visit. Blox helps you go from searching to buying in seven clicks at zero additional fee. 

If you are an NRI interested in buying property in India or simply a busy professional, buying real estate is no longer difficult. Online platforms like Blox make your homebuying journey smooth and effortless.