Buying a home becomes the ultimate goal after acquiring a steady career. While for someone who is well-versed with the real estate business, it’s a smooth ride, for new homebuyers, this journey might become a roller coaster. So, how can you get started with your home hunt? The real estate sector is huge and involves a lot of jargons and terms, which new homebuyers are unaware of. Hence, the first and foremost thing is to understand all the real estate investment terms. If not in-depth, knowing these key terms related to space will help you better understand your agent or the realtor.
In simple terms, a carpet area is an enclosed space within the walls of your home, where you can lay your carpet. Within this, the areas of inner walls, balconies or terrace are not included.
Built-up area is a combination of four things: carpet area, inner thickness of the walls, inside walls and balcony area. Sometimes, the real estate agents also refer built-up area as plinth area, so don’t get confused. It’s just 10–20% extra than the carpet area of your home.
Super built-up area
Floor space index (FSI)
FSI is the actual proportion between the built-up area of your home and the available plot area allowed by the government for a particular location. Usually, the higher the FSI, higher the built-up area of a property.
While these are the key real estate investment terms, you can easily find others online. You can refer to a home buying guide such as Home Ally, that will take you through the whole process. Learn before you spend, happy home buying to you.