There was a time when house buying activity would first require having a very trusted broker in place who would find all the required information for the home buyers. Today, Internet does that and more with the option of online realty buying. With the tier-I cities and tier-2 cities having a soaring broadband internet usage, being online is a cost effective way by which developers and home sellers can be in touch with the prospective buyers.
While a site visit is recommended before the final decision making, the property scouting business can start with searching for them online. All the information about a particular project can be found online- from the developer’s website or the property selling portal. The buyer can look through an array of properties with their photos in a particular area, know more about the area and the pricing trends at a go, compare and shortlist. The buyers can navigate through the virtual tours to actually know how the property is planned and if its fits the category of their dream home. In case of a buyer having queries, a revert can be expected at the fastest of the time with response coming in through online chats or emails.
However, depending on the internet for all the information is risky as they may be misleading. For instance, in case of a buyer looking for an under construction flat that fits his budget, a portal may not necessarily lead him to a reputed developer. As a thumb rule, one should always invest with developers with a good track record and this holds true more for under construction projects. Meanwhile, buyers should be careful when they go through property listings uploaded by brokers. In most cases, ambiguous information is provided by them as disclosing information like realtor name, project name, its availability etc. would hamper their business.
While going for online buying after making an informed decision on the project based on reputation of developer, safety of the investment, quality of construction and fitting in the desired budget, one should also check the developer’s website for a better due diligence. Finally, while online buying is easy and hassle free, the biggest advantage of bargaining is still missing as compared to conventional way of buying where a discussion over the table with a cheque book in hand can fetch an instant discount of 5 – 10% in today’s dull market.