Buying a house? 3 things to check before the deal

By: |
Updated: March 21, 2016 1:27:50 PM

There are many factors to look for before investing in a house, including the bigger picture of security and connectivity.

home-reu-LEvery buyer should do due diligence in terms of verifying all the necessary and required approvals before finalising his/her dream home. You should not miss out on the chance to invest in a good property. (Reuters)

Buying a home is not an everyday affair. People spend a lifetime’s savings for a house of their dreams. These days developers of new-age housing give endless options to choose from so that a homeowner has exactly those things in the house that the buyer intended to have from day one. From paint to floors, bedroom closets to kitchen cabinets, bathroom fittings to shower panels, builders these days look to provide every comfort they can to turn a house into a home.

There are many factors to look for before investing in a house, including the bigger picture of security and connectivity. Many times people buy property for investment and do not care much about an area even if it is not developed completely as they have ample time to wait and watch.

However, most middle class households invest in property to stay there. The things to look out for are accessibility and safety of the residential area, whether it has parks for children, or a market close by. Every buyer should do due diligence in terms of verifying all the necessary and required approvals before finalising his/her dream home. You should not miss out on the chance to invest in a good property.

Here are top three factors to keep in mind while you choose a house:
-Create your own database or list of homes you have heard of in and around your city. Visit the sites if possible as a visual idea speaks a lot. Research about developers and their past work, a good developer would have a positive review and will give you a clearer picture about their work and projects. Note down the luxuries and facilities each of the developer is providing and compare what fits with your preference.

-Work out your budget and find out current property rates in the areas that interest you. There are possibilities that a rate might be high, however a project closer to that particular place might be in your budget. The best deals can be found if you do not work in haste. It is a big decision to work patiently
and research well about the nitty-gritty of every investment aspect.

Check the neighbouring areas and make sure the security provisions are good. New age homes are giving more than just a security guard at the main gate, they are offering home alarms, CCTV cameras, mobile access to locking and unlocking doors and much more. It is essential that a homeowner doesn’t just take pride in buying a home, but also gets the best facilities to ensure comfort in life.

The author of this article is managing director, Sarvome Developers.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Indian rupee gains 20 paise to 66.55 against dollar in early trade
2RBI advises banks to comply with crop insurance plan provisions
3RBI signs $100-million currency swap pact with Bhutan