Checklist before buying a Home
Buying a house is like an action movie full of excitement, stress, planning, and the big payoff at last. With so many builders coming up with new launches and lucrative offers choosing a dream home has become challenging.
Here are a few guidelines to help you:
1) Setting up a Budget:
Decide upon the size of the apartment you want to buy and the budget. While deciding upon the budget, take into consideration the other costs you are likely to incur like – registration cost, stamp duty, fees for real estate agents, fees for advocates and any additional fees required by the builder.
2) Market Research:
Extensive market research is required of the property you plan to buy, to make sure you get value for money. Talk to independent valuers and agents of real estate and check the area’s recent sales. Do take into consideration the rental value and the property’s resale potential value.
3) Site Visit:
The brochure’s layout, as well as the show flat, might be different from reality. So, before you book the property, do a thorough site visit. If you are planning to buy an under-construction apartment, then visit buildings already delivered by the same builder to check the quality of its construction, assuming it would be the minimum quality that it would deliver.
4) Location Check:
The neighborhood in which you choose to live will make a big difference in how comfortable you are at home. You should make sure that basic requirements such as grocery, vegetable, and household utility shops are in close proximity to the property. The locality should have good connectivity in terms of a bus stop and railway station. Also check basic amenities like water supply, sewerage, electricity, etc.
5) Check for Title and other documents:
This is an important point. You must make sure the property’s title documents are clear by taking help of the advocate or enquire in sub-registrar office. You must ensure that the property is not subject to pending legal proceedings, property disputes or lien. Also, check plan clearance certificate/building approval from the municipality.
6) Verify the Builder:
It’s recommended that you verify the builder extensively, to do so you can check the builder’s past and ongoing projects and even post queries on different online forums of real estate.
7) Home Loans:
After finalizing your dream home, for home loan choose the bank offering the best rate. Also, take insurance cover for all loans with the purchase of a house; especially for a large home loan, this may help you in difficult times.
Lastly, purchasing an apartment is the significant decision you’d make, so take your time and do extensive research to make an informed decision.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. Propertypistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
