Explore all aspects of the builder floor
If you are looking to purchase a builder floor, it is extremely important to understand all its aspects, such as what a builder floor is. its advantages, disadvantages, legal aspects, and the best locations to purchase one.
What is a Builder Floor?
A builder floor is a type of house where an entire floor in a low-rise building (2-4 floors) is owned by one person. It offers more privacy than apartments since only one family occupies each floor. You get a separate entrance and the freedom to design your space the way you like.
A builder floor is a low-rise building consisting of 2-4 independent floors with 1 flat only on each floor. It offers more privacy and freedom for customisations than an apartment. It suits best to someone looking for a low-density unit with more privacy and customization options.
Advantages of Builder Floor
Builder floors are popular because of their unique benefits. Let’s explore them:
1. Complete Privacy
You get amazing privacy in builder floors; you don’t have to deal with noisy neighbours, and its perfect for introverts and families who need peace and privacy.
2. Personal Customization
Unlike apartments, you can design and decorate your builder floor as per your choice. Change layouts, add unique features, or style it your way!
3. Spacious Rooms
Builder floors generally have bigger rooms and better use of space compared to apartments of the same size.
4. High Investment Value
These properties are usually located in prime areas, making them a good investment option with high resale potential.
Disadvantages of Builder Floor
While builder floors have benefits, they also come with some challenges:
1. Higher Cost
Builder floors might be more expensive than an apartment due to their more space, privacy and customization options.
2. No Shared Maintenance
Unlike apartments, there is no society to handle maintenance. You have to manage repairs and upkeep on your own, which can be time-consuming and costly.
3. Fewer Amenities
You won’t get facilities like swimming pools, gyms, or playgrounds that are common in apartment complexes.
4. Security Concerns
Builder floors often lack advanced security features like CCTV cameras or guards, which are common in gated societies.
Legal Tips Before Buying a Builder Floor
Before investing in a builder floor, you must check the following legal aspects:
1. Verify Property Title
Always check the property’s title and record with the local registrar’s office. It shows the builder owns the land legally and there will be no disputes in the future for you.
2. Approved Building Plans
Check if the building plans are approved by the local authority and everything is built complying with the local laws and regulations.
3. Occupancy Certificate
Ensure the builder has an occupancy certificate. This document confirms the property is safe and legal to live in.
4. Check for Liabilities
You should always confirm that the property is free from loans or legal disputes. This will protect you from unexpected liabilities in the future.
5. Check for Pending Taxes
If you’re buying a resale property, ensure the seller has paid all property taxes, including municipal and property taxes. Any unpaid taxes will become your responsibility after the purchase.
6. Verify Builder’s Reputation
Research the builder’s past projects and customer reviews. Look for any history of delays or legal issues to ensure they are trustworthy.
7. Check Circle Rates
Circle rates are the minimum property value set by the government for an area. Compare the asking price with the circle rate to ensure you’re getting a fair deal.
Conclusion
Builder floors are a fantastic option for families seeking privacy and spacious living. They allow you to design your home according to your style and are located in prime urban areas.
However, they come with some drawbacks, such as higher costs, fewer amenities, and maintenance responsibilities. Make sure to verify all legal aspects and research the builder’s reputation before making a decision.
If you want a peaceful, independent home and are willing to manage maintenance yourself, builder floors can be an excellent investment. Choose a trusted builder and location to enjoy the perfect combination of comfort and privacy!
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