Odds and Ends we should consider while buying your “Sweet Home”
By Om Vyas
REAL ESTATE
Odds and Ends we should consider while buying your “Sweet Home”
If you are planning or ready to buy a property or house is considered as one of the stupendous achievements in your life. Buying the right property is not a small deal as your lifetime savings are at risk. Different people have different validations for buying property and these validations have a great influence on other people. You may buy a house because you are living in a rented apartment, or your current house has no room to swing a cat and you want to upgrade to a bigger space, or maybe you are seeking out your second home as an investment option. But before you make your final decisions, lets puzzle out certain important factors you should consider while buying your own property, something which can make your irrational decision a rational one.
Contents:
Financial Status (Budget) of the buyer
Follow a line of investigation about developer
Construction Quality of Property
Location and Neighborhood of that property
Connectivity from major points
Financial Status (Budget) of the buyer
Budget or financial position of the buyer is one of the most essential aspect to be considered while buying property. Usually we ignore our budget after seeing a lavish property with all tick marks in our checklist like balcony, deck, amenities etc. but generally a dream home with such amenities are out of our budget. Therefore, it’s very important to have a fixed budget. Buying a house is a hefty long term investment so you must calculate your other expenses like car EMI, education fees, loan EMI and compare it with your income. Once you have analyzed your financial liabilities you have a clear picture of your budget and EMI you can afford to pay for your house. Never go above your budget as repaying loan may turn into “phobia”
Follow a line of investigation about developer
Real estate industry is full of regulations so before buying property you should do ample research about the builder and dig into the history of builder. You can surf online and check developer’s website so that material comes straight from the horse’s mouth. You can even go through costumer reviews or experiences with that developer
Construction Quality of Property
Sometimes actual property and pictures of the property given by the developer has vast differences ensure that you have to live inside your house not in the world of pictures check the quality of construction by inspecting the strength of the walls, kind of flooring used, type of color applied bathroom fittings etc. In case you are booking an underdeveloped property check online or pay an occasional visit and have a walk around to get an idea about that property.
Location and Neighborhood of that property
Sometimes we may get a property which has all specifications and dream amenities which would touch your soul and fits in your budget. But you should consider various factors like ease of accessibility, road conditions, location of the property etc. or any future developments like Metro rail, flyovers, schools, markets, hospitals around it to be done.
It is said that love your neighbors, yet pull not down your hedge you must consider the neighborhood, the kind of people within and around the property who will be or are already living there.
Connectivity from major points
Make sure that you buy a house which is near to your key areas like your office, stations, bus stops etc. since you will be traveling every day it should not happen that you end up spending hours traveling from home to the office and vice-versa. As it can drastically obstruct your personal and professional life.
Winding Up Note
Home is not a place it’s a feeling, buying your own property is not a piece of cake one should consider many factors before buying your dream house or property. Make sure that you purchase the right property from the right dealer. Ensure that all your legal documentation and paperwork are in tip-top conditions.
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