to buy House A career milestone for many people. With this important decision, it becomes important that we keep a few things in mind and check a few boxes before finalizing it. Property,
Hence, we have compiled some pointers for you that will help you make an informed decision before buying a property.
I, When dealing with real estate agents, one comes across various terms related to property such as carpet area, built-up area and super-built up area. Here, the carpet area of the property is the actual usable area which does not include the space occupied by the exterior walls. So, make sure you know how much area you will need to use before buying a property. The built up area includes the exterior walls. The super-built up area includes common areas such as parking, lift, lobby, etc.
Second, Apart from scanning the property from inside, one should also check the connectivity of the area where the property is located and the facilities around it. Metro stations, railway stations, hospitals, schools and restaurants are some of the public facilities that you should look out for.
third, Before you make plans to move to a new home, try to analyze the occupants there and if you would feel comfortable sharing some common features with them. It is advised to stay with like-minded people to avoid conflicts in future.
IV, Before spending your money for the land/property, hire a legal expert and assess all the documents. Property papers are often complicated for those who are not familiar with real estate terms such as land deed and land use. So check the documents with the help of an expert and then take a decision.
V, While the dealer will always try to entice you to buy the property by promising all kinds of amenities, you should get a clear picture by talking to the residents. Contact some of the people who live there and check if the water supply is proper, the gym is working, the swimming pool is cleaned on time and the power supply is not frequently interrupted.
Sixth, Look for any small neighboring buildings or bungalows that may be converted into a high rise building in the future. These structures often block the view of your property and affect its value as well.
seventh, Make sure the cost of running the property fits well into your budget. Estimate maintenance fees, commuting charges and property taxes are other areas where you will spend money once you move into the new property.
eighth, Before finalizing the home, go through the home loan options. Scan the plans of various loan providers to find the cheapest home loan available and check their rates. Also, decide which ownership will suit you as a female co-owner or a senior citizen.
ninth, Always discuss the payment aspect with the dealer before sealing the deal to avoid any disputes. Dealers demand huge amounts of cash which is difficult for many people to arrange.
x, After getting a quotation from the dealer, try to find out the average range of prices in neighboring buildings. Assess nearby properties and know their construction quality, and the area and facilities they offer.
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