Things to consider when buying a house:
When a person plans to buy a home, there are several
thoughts started running around like where to buy, what to buy, how to buy, is
it my decision right or wrong?, how to get I loan from a bank? property is good
or not etc.
Consider 10 points before buying a house:
1. Identify your requirement:
Identify your requirement, before start searching home. Look at your family size & their comfort, think about budget & other financial credentials, think over location & connectivity, future development of that area, can you afford to buy ready to move house or you can wait for possession etc. these are few criteria which will help to identify your requirements. Once you decided what to buy then make budget accordingly.
Once you identified your requirement then define an appropriate budget for the house. Look at your financial condition like how much you can make for down payment, how much amount required from the bank as a loan, what will be the suitable loan tenure for you. Also, check your loan eligibility to get the loan. One thing also keeps in mind that there is certain other expense which you have to spend after getting possession like, possession charges, registry charges, interior work, furniture etc. So whenever plan to buy a home always keep in mind these expenses too. So that your budget is in your control.
3. Appoint property consultant:
After identifying your requirement & decide the budget, consult with property consultant, who assist & suggest properties as per your requirement. Before selecting any consultant, look their qualification, professional skill, knowledge towards real estate sector & most important consultant should be RERA certified.
It is very important factor when you going to finalize home. When you start searching home always keep in mind about your work place, schools, hospitals, market place, play area, security & other things which we required on daily basis.
Connectivity is another very important point when we decide to buy a home. Always prefer such kind of area when we can commute easily. House should be located in such a place where we can reach easily, public transport like- Buses, Metro or railway connectivity is available or they are planned to reach in future.
6. About Builder:
Don’t finalize any
property before checking builder’s background, their previous track record,
quality of construction, financial stability.
7. Project specifications: We live in a modern era where we are not looking only home but also we aspect more like, sports area, club house, gymnasium, swimming pool, jogging track, indoor games, garden, kids playing area, lift facilities, security etc. We also keep in mind about project & flat layout, think over cross ventilation, sunlight & maximum utilization of spaces.
It is very necessary to check all approvals regarding the project. Now project cannot be a launch without RERA registration Number. So if planning to buy any under construction property then your first question should be about RERA registration number. It is also required to check that banks are providing fund on a particular project or not. If yes then which banks are available for loan.
9. Compare projects in a similar category:
After short listing projects, compare project layout, floor plan, amenities, builder background, payment plan, price, location advantage, connectivity & other things which you makes key factor to finalize property.
10. Price negotiation:
Don’t hesitate to negotiate the final price. But also assure it that you offer reasonable price which are trending there. Sometimes people refuse to buy good property just because of some discounting or less price. Don’t buy such kind of property where you have to compromise or you have any doubt about project or builder just because of the cheap price.