Reason 1: Buyers Focus on the Flat, Not the Area
The majority of the purchasers take hours to examine the flat.
They look at the kitchen size. They examine the tiles on the
bathroom floor. They check the taps and switches. They check all
places of the property. Yet they do not take much time to
research on the area. They visit once or twice. They look around
for 30 minutes. They think that everything will turn out
alright. This is a big mistake. Your flat is just 1000-2000
square feet. This is your place, your whole day life. It
influences your travel time, your children to school, your
weekend schedule, and your sanity.
Reason 2: Decisions Based on Emotions, Not Data
Buying a home is emotional. You are in love with a pleasant
balcony. You are fond of the kindly security man. The broker
lies to you of the neighbourhood. You feel good and say yes. But
feelings can mislead you. Such a beautiful view may be
accompanied with awful traffic sounds. Water problems may be
experienced in summer that friendly society. Feelings do not
indicate price movements or prospects of development. You are
doing a decision of Rs. 50 lakh to Rs. 1 crore on a gut feeling.
That's risky.
Reason 3: Trusting the Wrong Sources
As customers do their research on localities, they question the
wrong individuals. They enquire of brokers who are in a hurry to
sell. They request their friends that have no knowledge of any
other area other than their own. They check the online reviews
that could be a counterfeit or old. None of these sources will
provide you with the full picture. Brokers possess their
interests. Friends are little known. Online reviews can be
biased. You require objective, factual news so as to make the
correct decision. The majority of purchasers are not provided
with such information.
Reason 4: Ignoring Future Growth
A significant number of buyers just consider the present day.
They examine whether the locality is good at this moment. They
do not contemplate the future situation in 5 or 10 years. This
is a costly mistake. What appears to be a perfect locality today
may turn out to be congested tomorrow. The building of a new
house will destroy your quiet street. Or the opposite can
happen. The way it is now, a typical area today could turn into
a hot spot in 3 years. Buyers not taking into consideration the
upgrades in future usually miss so much or get themselves in
places that will eventually deteriorate with time.