Buying a house is one of the major achievements of a person’s life because it takes a lot of money. Many people buy houses with their savings money while others resort to bank loans to fulfill their dream of buying a house. Most people depend on the reputation of the builder to buy a house. But this is a misconception because perfect paperwork should be the only criteria for buying a new house. Therefore, while buying any house, you should be very careful and check whether the builder has done all the necessary paperwork or not. Apart from this, it is also necessary to check the credibility of the builder by visiting various forums. You can check his past or current projects or even ask your online community to know about a builder.
After saving for years and making plans, your effort should be that you make the right decision so that you don’t have any regrets later. We are telling you some important things here, keeping in mind that you can make the right decision. Along with your savings in buying a house, a lot of money is invested in the form of home loans, according to this you need to take extra precautions. While buying a new house or flat, you must take care of the location of the area, the date of possession of the flat or house, and some things like carpet and covered area.
In such a situation, instead of making a wrong decision while buying a house under the influence of any haste and breathtaking offers, one should deliberately move towards your dream home. In such a situation, information related to buying a house can prove beneficial for you.
Property price & Market Value
First of all, you should prepare a budget to buy a house. If you know how much you can afford to buy a house, then it becomes easy to choose a house. After that compare your property with the property in the surrounding area. This will let you know whether the builder has given you the right price or not. Now there are many means by which you can compare property prices. You can estimate the value of the property in that area by the advertisement appearing in the property’s online site, the property dealer of the area and in the newspaper.
Title Deed (Person’s legal ownership) or Land Record
It is most important to check the title deed of the land on which the asset, project or house is located. Through this deed, consumers or investors will know clearly whether the property that the builder is selling is owned or not. Does he have the right to sell or transfer the ownership of that property? Through this deed, it will also be known whether there is any prosecution on the property concerned. Seek the help of a lawyer to get the title deed examined.
Property Legal Information
Before purchasing a property, you should ensure that the land on which it is built is free from legal trouble. Do you find out if the developer has got all the approvals? This includes the registrar, development authority of the area, water supply, electricity board, and municipal corporation, etc. If you are buying this property by taking a home loan, then the bank giving information about this checks itself from its level.
Builder-Buyer Agreement When you go to buy a flat from a builder and you book the flat by giving a token amount, you get an allotment letter. After that, if you apply for a loan from the bank, then there is a tripartite agreement. You should read it and understand it. If you do not understand anything, then you should clear it from the bank or builder.
Reports of real estate scams have become common around the market, so consumers should take complete care when buying a new house and should check all the documents before purchasing it. You must see that important documents like layout plans have been approved by the concerned authorities as it is also seen that the builders work away from the approved plans, causing many problems later. Therefore, insist on checking the acquisition certificate as it is clear that the developer has built the project on the basis of approved permissions.
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Aware of influenced and attractive ads
The impact of advertisements is very deep on our mind and when we see the breathtaking advertisements related to the house, then they are influenced by them and decide to buy the house, due to which one has to repent later. Instead, it would be better to do a thorough investigation of the advertisement or such offer instead of coming into effect and find out whether this offer is valid or not. In case the offer is valid, also get full information about hidden charges.
Know about features and Facilities
Instead of hurrying to buy a low budget house, find out about the necessary facilities in it like water, electricity supply there. Apart from this, know about the arrangement of transport, market and health-related facilities. Just for this, you need to put some effort into making the right choice, because here it is about your dream house and to make this house beautiful like dreams is in your hands.
Location and Society
Location of the flat Since buying property is a long-term investment, according to this, you should take special care of the location of the property. Facilities in the area, infrastructure, and access to essential services are something that should be taken care of. If you pay attention to all these things, then according to your stay you will be relaxed. Your flat should also be in a safe area so that you and your family will be safe.