5 Mistakes to Avoid When Buying a Villa

villa life
April 10, 2023

5 Mistakes to Avoid When Buying a Villa

There is no joy greater than owning a home of your own, a place where you are master of all that you survey, a haven for your kids to grow up in and security for your family in bad times. Buying your dream villa home can take years of planning your finances and commitment. Since it’s a capital-intensive investment, you want to be sure there are no gaping loopholes that could leave you with regrets in the future. Accordingly, there are a number of factors to look into, so you are aware and well-informed when you finally take the plunge and buy a luxury villa in Trivandrum.

Here’s a look at 5 major mistakes to avoid when buying a villa:

1. Do Your Homework

All major builders have a strong online presence these days, and provides every detail about all their projects. Once you have decided about the preferred location of your home, your budget and all the important features that your home should have, its time to start searching the net for projects that fulfill all your necessary needs. Doing your research online first will give you a very good idea about the latest trends, the going rates with different builders, as well as all the projects available in your chosen location.

2. Going Over Budget

You might see a villa project that you really love, but the price is over your budget. Don’t get emotionally involved and follow up on it, as it could lead to your budget going astray. This is because you not only have to then reconsider and put down a larger downpayment, but also pay larger EMIs. It also means heftier stamp duty and registration fees. Instead stay focused, move away, and continue your search for a home that fits your budget!

3. Builder Reputation

When you buy your villa home from a trusted builder, half your problems are taken care of. This is because you will no longer have to worry about the quality of construction and materials used. Neither will you have to worry about transparency of transaction, legality of all paperwork or timely handing over of the keys. All projects by branded builders are usually located in safe neighborhoods and are well-connected to important parts of the city. Do take the time out and research for villa projects by big brand builders who have been around in the construction industry for some time and have a reputation to maintain.

4. Attractive Discounts

Everyone loves a good discount, but it doesn’t bode well to actively focus only on discounts when buying a villa. This is because sometimes builders who openly advertise high discounts might actually end up short-changing you when it comes to the quality of the home provided. This could mean poor quality of construction using below-standard materials or poor availability of amenities that don’t really improve the quality of life of its inhabitants. It could also mean financial crunches being faced by the builder, resulting in delay in project completion.

5. Loan Eligibility

Another mistake to avoid before committing to a home is first checking your loan eligibility. Since most banks require a downpayment of 20% of the total cost, the remaining 80% has to be furnished by a bank. Do ensure you have a CIBIL score above 750 points, stable income and age on your side, to be considered eligible by the bank for the necessary home loan. Knowing your loan eligibility beforehand will ensure there are no nasty surprises down the line.

For those on the lookout for spacious and luxurious villas in Trivandrum, have a look at the 12-acre premium ‘Prithvi’ villa project by PPD. Located in the serene and green Akkulam area, just 1km off NH66 along the rapidly-developing ‘New Trivandrum’ (Kazhakoottam-Eanchakkal) corridor, the project features 102 spacious villas in plot sizes ranging from 4-20 cents of land. These villas not only come with an enviable plethora of world class, lifestyle-enhancing amenities, but also with sustainable-living ecofriendly green features. What’s more, these villas are just a stone-throw away from Lulu mall, Technopark, major hospitals, the international airport and premier schools.

Don’t take our word for it, come see for yourself!