Tuesday, June 30, 2020

A Good Home is The Good Deal !










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“Optimism doesn't wait on facts. It deals with prospects. Pessimism is a waste of time”...Norman Cousins.
“Only those deals get closed which you deserve”...Amit Kalantri.

Norman Cousins was an American political journalist, author, professor, and world peace advocate. Amit Kalantri is the author of three books " I Love You Too", "5 Feet 5 Inch Run Machine - Sachin Tendulkar" and "One Bucket of Tears". He is also a professional magician and mentalist. Well, two quotes from two continents exactly on two sides of the earth like two sides of the coin. Gladly Amit is from very much “Aamche Pune” & sure out of entire country there are maximum numbers of Punites in USA. Now the quotes are about the deal when I started my sharing which is how or what you call as a best deal in real estate of your home search, I was confused which ones to use, so decided to use both the quotes!  Reason of this sharing was, recently one of my friend’s friends (In India this relation thing can extend to any length) wanted to know about a property (flat) he was interested in buying for him as a home in kothrud, a western suburb of Pune, well developed, needless to say. I said what he wanted to know, he said he has visited site, liked location, the work also is in progress & nearly 3/4th of floors has been complete (height wise), so is it a good deal & what will be good rate to buy a flat here? I said give me a day & I will inquire about the project & the builder & get back as well will give few other options if I get some. So a day after I called that guy & gave some other projects details & told him the builder is not much reliable name but professionally I can’t quote so, as a friend I am sharing this , so he can choose from other options in the same locality! After few days I remembered our conversation & asked that friend’s friend about any help he still needs, on this he said they have decided & have booked with the first one only about whom they have asked me. I said, why they didn’t found my other suggested options good, the man said, the other options were out of their budget by few lakh rupees & this builder gave them best deal in their budget, so they thought of going with the name which  I have said to avoid! Well, I asked them have they entered in agreement, the man said not yet but soon. I told them, I am sorry again professionally I should not be doing so but as you have referred to me by a friend, I feel it’s my duty to tell, the builder has a reputation to delay the projects even when they are in finishing stage as well a very poor post sale service & I referred him one of the customer of the said builder whom I knew has had a bad experience & asked him to speak & check in person the experience as a client with that builder!  I said, you are buying this home for stay & paying amount nearing to Rs One plus crore & just to save few lakh, you are not bothering that what if the project gets delayed by a year or you have to follow the builder for months for getting petty works done & get zero post possession service! Would you buy a car of reputation of low maintenance, poor post sales service & getting delayed delivery even after paying all amounts on time? He said, no, I wouldn’t, so I asked then why you are booking home like life time thing for just because you are getting a best deal you feel, on just price basis!

This is where the above two quotes comes in picture as right now post lockdown, everyone is speaking about real estate & its fate, well I am not or  never worried about fate of the real estate but sure fate of few names who have been dealing wrongly. But then you find such in every field & meet their fate eventually is a fact, so why worry! Actually I am not worried about the builders who give a bad deal, I am more worried for the home buyer who ends up getting a bad deal as they opt for it in first place, is the major problem of real estate! Like Normaa says, Optimist & Pessimist are two sides of coin & we all have both characters in us, so there is a third side of the coin & that is edge of the coin. And on this edge also on which side you stands of the edge matters when it’s a deal but in real estate surely the person who sees prospect, ends up getting a good deal is a fact. And I don’t mean be optimist means ignore the facts, keeping logic intact you can be optimist & select your home, is what I mean. For e.g. some ten years back I build few projects in Baner/ Balewadi & sold flats at say Rs 1800 per sft, a price which can’t cover even the construction cost today. And at that time, those people who didn’t book flat in these projects by giving reason that’s its far away from the city, are still searching for the home in the very same locations which are now out of their budget!

Again, I deliberately gave my own example so to make you know what to call a good deal when you are dealing real estate or say your own home. And I am not sharing this for appreciation part, it’s a bonus, what I want to tell is about getting a good deal for your home, first know what you call as a good home!

Post this lockdown many things are & will be changing as many people will be working from home, many people have fled from Pune, many people will be coming back & some won’t ever, there will be many new migrants also in all the sectors of the society, coming from all parts of the country even from out of country for search of new jobs or careers as Pune offers most jobs; but all this will take some time to settle . As thanks to media as well confusion created by the rulers & illegal settlements in pockets which has gained negative publicity to this city & the case is same with major Metro cities in the country as any epidemic  is bound to grow in slums & difficult to control is a fact, which our rulers knows but wont never learn!  But in a way that’s boon for many builders or localities in Pune as now a good deal for home means non-contained area means a locality with minimum slum or illegal constructions, is also a parameter now. Because my society I may isolate or quarantine for being safe but all class four workers which are like backbone of our society may be coming from contained area if one such exists nearby my home, causing always a threat to my family, is something never thought of earlier for buying a home!

Then comes the location from angle of prospect of development; frankly in our country people starts living & then development follow is the rule, applicable for commercial as well residential settlements & Pune too is no exception for this rule, which actually is totally in contrast with urban planning. But that’s how we are different, isn’t it, so when you are searching for home, just don’t go for what’s there today, look for what was there five years back & then predict what will be after five years. As where all sorts of developments are complete you won’t get a good deal ever, I mean on term of price is what I am referring to!  This doesn’t means that go & stay some location with no roads, water, schools, shops but this means these all follows eventually at most places in cities like Pune/ PCMC. So, along with the schools, shops & hospitals around, do check for the growth pattern of the locality also; as no illegal or unplanned settlements around your location & pollution creating aspects like narrow roads or some industrial unit etc as these all are going to count when you ask for best deal!

And now at least I hope people will keep their eyes open ( read as senses) when they think of amenities as if not swimming pool & gym, the single stand building must have a walking space all around it & not just a maze of parking & services. As during entire lockdown period I was walking around my residence building, which is a single standing one but good space on all around it & surrounded by the trees. Thankfully our society people haven’t cut the trees for parking or any other purposes & I could every day listen to birds chirping (actually) & shadow of the trees. Redevelopment guys are you reading it, as most of them (existing society people) in the zest of getting more space surrender their tree cover & then the new flat holders in such buildings, can they get a real good deal with a home without trees, ask yourself this also! (Keeping due respect to the builders which keeps space for trees also in redevelopment, magicians they must be!). And yes do ask for monthly outgoings also when you are booking a home with all so called lavish amenities, does we need them & if yes have we provision in our monthly outgoings for the same. Though in big projects such expenses are shared is also true, so just do some maths before you compare between amenities vs. outgoings to maintain them!

The locdown era might be a big dent for the rentals as with so many restrictions laid by the crazy (sorry but that’s fact) society managing committee members, most of the rental families must be thinking of getting their own home than surrendering to inhuman demands from the society members from the tenants! And I don’t blame them as I have seen enough society fights during these periods, the managing committee thinks they are dictators & the flat owners thinks they are rebels & nobody cares what the tenants thinks!  So high time for the present tenants may of 2 bhk flat to become flat owner even it may be 1 bhk as future for time being; this also can be an aspect of a good deal! And then there is work from home aspect too, so a 1 bhk in posh locality or a 2 bhk, slight far; choice is yours!

And lastly, budget front of the deal; well, times are hard, jobs are rare & salaries are decreasing yet life is on! As I said, judge your pocket not just on scale of today but years ahead & your needs & then only call what you are buying as  a good deal (read as good home). As I have seen (meet) many people happily living in their homes & all of them takes pride in how they got a good deal (read as home) but nobody gives the real estate (read as the builder) any credit of such good deal. And I have seen many people who are suffering from the home they have bought & call it as a bad deal & keep blaming the real estate (read as builder)! So, what you think after reading this about good deal while buying your own home, who is responsible, yourself or the builder? 

As Amit Kalantri said, a good home (read as deal) is deserved only by the person who chooses with open mind & has optimist attitude & keeping an eye on future! So go ahead home buyers, have a good home first, a good deal will definitely follow!

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Sanjay Deshpande 
Sanjeevani Dev.

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1 comment:

  1. Nice article Well written
    In Mumbai there are may real estate firms that have gone bust in recent times and bankers have gone into liquidation of these companies Unfortunately home buyers are treated as financial creditors and their hopes of getting their investment (leave aside the flat they intend to purchase) is minuscule as against huge credit by bankers Can MahaRera give hope for these home buyers?

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