Things to check before buying a flat in Dhaka | A complete guide

Are you planning to buy a flat in Dhaka? Now's the perfect time. The real estate market is thriving with new projects emerging in top neighborhoods. Dhaka is growing fast, bringing more tech-savvy and green buildings. These stylish exteriors and interiors are attracting many buyers. Finding the right neighborhood that matches your needs is vital.

Let's dive into the key factors to consider when buying your home. This guide covers everything from legal documentation to location. It also includes property values and flat prices in Dhaka to help you make an informed decision.

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Key factors to consider before buying an apartment

Buying an apartment in Dhaka is an important life decision. It’s important to know the key factors before committing. This will help ensure a smooth and successful experience. Here are key aspects to evaluate to ensure a smart investment and a comfortable living environment:

Legal considerations: Ensure a safe & secure investment

Checking the legal status of the property is the most important step while buying a flat in Dhaka. Without proper documentation, you may face ownership or authenticity issues.

• Verify ownership: Before signing any agreements, ensure the property has a clear title. The owner must have all legal documents to prove ownership, ensuring no future discussions.
• Check property title deeds: Confirm that the flat title deeds are authentic and free of any encumbrances. Ensure there are no legal discussions related to the property.
• Building approvals and permits: Ensure the builder has acquired all the necessary building permits from the city authorities in Dhaka.
• No objection certificates (NOCs): It is very important to ensure that the developer obtains the required NOCs for flats in Dhaka from various authorities (e.g., Fire Department and Environmental Authority).

Location: Choosing the best neighborhood for your flat

The flat location affects your quality of life and investment potential. Uttara R/A, Aftabnagar, and Bashundhara Residential Area are the best areas to buy flats in Dhaka. These areas offer excellent connectivity, security, and modern amenities.

• Proximity to amenities: Make sure the flat is near schools, hospitals, malls, and transport. Flats close to amenities in Dhaka provide convenience for daily activities.
• Neighborhood safety: Security is a major concern when buying property. Research neighborhood crime rates and talk to locals to assess the safety of the area.
• Future development potential: Locations with upcoming infrastructure projects are often the best investment flats in Dhaka. Areas with future development often see rising property values.

Property condition: Assessing building quality & maintenance

Ensure the flat you buy is structurally sound and properly maintained. A well-maintained flat saves money and ensures durability.

• Building structure & integrity: Check the building for cracks or leaks. A well-maintained building is crucial to avoid costly repairs.
• Quality of materials: Check the quality of construction materials. Make sure plumbing and electrical systems are working properly.
• Age of the building: Older buildings may cost less but need more maintenance. Make sure you’re prepared for any maintenance costs for flats in Dhaka.

Flat amenities: What to look for in a well-equipped flat

It is important to consider the facilities available before buying a flat. Modern flats in Dhaka offer facilities to enhance comfort and convenience.

• Basic amenities: Ensure that the flat has water, electricity, a lift, and parking amenities. They are essential for your daily living.
• Security features: The flat offers peace of mind with security features such as CCTV, guards, and secure entry.
• Additional facilities: Many modern flats offer gyms, pools, and community halls. These amenities can improve your lifestyle but may increase the price of the flat.

Price & Affordability: Understanding the financial aspects

Price is a major factor in deciding which flat to buy. Know the flat price range in Dhaka and match it with your budget for a smart choice.

• Flat price comparison: Compare the flat price you’re considering with other flats for sale in the same area. If the price differs greatly, investigate further.
• Financing options: Check mortgage loans in Dhaka to ensure affordability. Many banks offer low-interest home loans with flexible payments.
• Additional costs: Remember to include extra costs like registration fees, maintenance, and property taxes. These expenses can add up quickly.

Developer reputation: Ensure trustworthy construction

The developer’s reputation can significantly impact your overall experience when buying a flat. Make sure the developer is reliable and delivers on promises.

• Research the developer: Check the developer's reputation for quality properties and reviews from previous buyers.
• Past projects: Review the developer's previous projects to see if they meet your expectations. An experienced developer is more likely to offer quality flats.
• Customer service: Great customer service and after-sales support show a developer's commitment to buyers.

Resale value & investment potential: Assessing long-term value

Buying a flat is a long-term decision. It is important to consider its resale value. This is important if you plan to sell or rent the flat later.

• Market trends: Research real estate trends. If the market is growing, your property will likely increase in value.
• Resale value: Flats in high demand or new areas often have better resale potential. This makes it easier to sell the property at a profit later on.
• Investment growth: Flats in developing areas with planned infrastructure often increase in value, making them a smart investment.

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Payment plans & terms: Understanding your financial commitment

Before buying a flat, understand the payment terms and options. Some developers offer flexible plans to help manage the cost.

• Flexible payment plans: If you can't afford the full initial cost, look for developers with installment or down payment plans.
• Understand the terms: Always review the terms of the sale carefully. Make sure there are no hidden fees or penalties for early payments.

Future development in the area

New roads, schools, shopping centers, and transport can increase your apartment’s value. A growing area may see property value rise, while overdevelopment can cause congestion. Check local government plans to see how they affect your investments.

Common mistakes to avoid before purchasing an apartment

Buying an apartment is exciting but complex. Many buyers make mistakes that lead to financial or legal issues.

Here are the key pitfalls to avoid to ensure a smooth and successful apartment purchase:

• Neglecting neighborhood research: Don’t overlook safety, amenities, and convenience.
• Ignoring the full cost of ownership: Consider maintenance fees, taxes, and hidden costs.
• Skipping legal verification: Ensure clear ownership and all necessary permits.
• Overlooking building quality: Check structure, materials, and overall durability.
• Choosing unreliable developers: Research the developer’s reputation and track record.
• Rushing the decision: Take time to compare options and inspect thoroughly.
• Skipping mortgage pre-approval: Know your budget and loan eligibility in advance.
• Focus only on low price: Balance price with quality, amenities, and location.
• Ignoring future needs: Think long-term for growing family or lifestyle changes.
• Skipping professional inspection: Get an expert to spot hidden issues.
• Overlooking amenities: Look for essentials like parking, security, and recreation.
• Ignoring resale potential: Choose a property with future market demand in mind.

Conclusion: Make a smart & informed decision

Buying a flat in Dhaka is a big investment. Consider factors like legal checks, location, building quality, amenities, price, and developer reputation to ensure a smooth and profitable purchase.

Assetic Ltd is a leading real estate company based in Dhaka, Bangladesh. We offer exclusive flats and apartments for sale in Dhaka. These come with all modern amenities to suit your lifestyle needs. We are here to help you find the perfect flat. Call us now at +880-1880-087202 for expert guidance and property recommendations.

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