10 Things to Consider Before Buying a Property

4 min read
10 Things to Consider Before Buying a Property

10 Things to Consider Before Buying a Property

Every home is a result of calculations, hard work, and perseverance. All the matters related to the property including location and amenities have to be finalized before one pursues the purchase or construction of the villa, house, apartment, or flat. Clarity on the requirements can lead to the wrong purchase. This article is generic in nature for homebuyers across India or abroad. In this section, we will discuss the top things to consider before buying a property.

Let you be searching for flats in India, London, or anywhere else, keep the points we discuss here in mind.

1. What is Your Budget?

House has become a matter of reflecting one’s status from being just a basic need. People tend to go for exorbitantly priced villas and apartments, which may overturn their budget completely. Calculate the EMIs, if you are taking a loan, and evaluate other expenditures properly. Buy the home that is within your viable budget. Avoid creating a financial crisis in an attempt to buy a house that is actually beyond your budget.

2. Where Do You Want Your Home to Be?

The location of your home is important. Of course, the property located at a prime spot would cost very much higher than one on the outskirts. The same is the case with places as well. A Kochi apartment would be costlier than the apartment in Aluva. It is better to identify an ideal location with good connectivity with all the essential amenities and important centers.

3. Does the Property have a Clear Legal Record?

The green norms in the country do not allow home construction in specified zones. You would not get approval if the land falls in agricultural land or wetland. Check the documents perfectly by yourself or by an experienced individual. The same is the case when you purchase a property from builders. Confirm that all the approvals are in place, to avoid any complications later. The reputed builder starts construction only after the receipt of legal and administrative approvals only. Therefore, you can buy homes from them without much concern.

4. How Connected is the Location?

Connectivity is the another main factor that you should consider before buying a property. Connectivity with major centers, schools, and hospitals is essential. A well-connected locality may cost you higher than the property at a remote location. Nonetheless, the money spent is worth it.

5. How Classy is the Place?

The locality would directly indicate the level of your life or your lifestyle. Choosing the location according to your financial and social status would be preferable. Individuals interested in sports, arts, and other extracurricular activities may check for those facilities nearby.

6. How good are the Amenities provided and Infrastructure?

You may be opting to buy a villa or apartment from a trustworthy builder. Nevertheless, you must ascertain the amenities provided and the basic infrastructure of the apartments/ flats. Here, infrastructure would mean both the construction styles and pattern of the homes, as well as, the surroundings. The property must deliver you a comfortable and pleasant stay.

7. Are you sure about the Quality of Construction?

This is, again, may not be a concern when you choose a reliable builder. Even then, you must check the brands of the accessories and extra fittings. Inspect the property during the construction stage if possible. It would help you determine the quality of wiring and cables used, the standard of construction, etc.

8. How’s the Society?

Does society offer you a serene life and quality interactions? You would most probably be staying with your family. Familial interactions would be normal in that case. Society should be good enough for a serene and joyful life.

9. Is the Property RERA Registered?

The Government of India has made RERA registration mandatory. The regulation is mainly intended to support homebuyers from overpricing by builders, structural inaccuracies, and so on. Check that the property is RERA registered.

10. What’s the Resale Value of the Property?

Of course, you are buying the home for a living, not for selling. Still, it would be beneficial to assess the resale value of the property. We never know how things change over a period. You may want to shift to a bigger home, at another prime location, after some time. Property at a location with better resale value would be advantageous in that case.
Don’t miss out on checking these 10 things before buying a property. Property purchase is a decision to be taken after a thorough analysis and ascertainment only. The price to pay for a wrong decision may be heavy.

Also Read: Top 5 Ways to Invest Your Money for Best Returns

Avoid any such possibilities by examining the points well and deciding after discussion with family or experts who know about properties. Half of your doubts can be resolved just by choosing a credible and trusted builder.

Leave a Reply