Tips for buying a house – 10 Things to look at !!

Buying a house? Here are ten tips to know before you buy a home from a builder.

Buying a house for many of us is not just a dream but also an investment. But at the same time it’s a hectic and time consuming process. But fear not, we are here to help.

 

Check out the entire list below.

 

1. Location of the property :

Make sure you buy the house or villa at a location where all the necessary amenities and utilities such as hospitals, schools, bus stand, railway station etc are available so that the house you buy always stay at a premium value. Location of the property is the primary factor that decides the entire value of the house or apartment you are about to buy. It is so because the value of the certain location has a direct influence over the value of your property. Having such amenities will make sure the value of your house never go down, which will ensure a good value on the house in case you decide to sell it. For those who are not selling the house, having such amenities will only make your life easier, never having to look for your car keys every time an emergency or situation pops up.

 

2. Set your Budget and stick to it :

Always have a budget and make sure you stick to it. Buying a house is a tedious time consuming and cost incurring process. Having a budget will make sure you won’t be wasting your time looking at properties that you can’t or shouldn’t be affording. This will also make sure you get a loan much easier since you already know what you are looking for. Only change the budget if you think it’s a very good investment. Set the budget considering all your present and future incomes and expenditures.

 

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3. Know all about the features and facilities on offer :

Before you buy a house make sure you know all about the features and facilities on offer at the house or apartment you are buying. This will ensure you don’t end up paying for a project that lacks in all the features that you are looking for. Features should include car parking, security, recreational areas, play Area, terrace facilities, gyms etc. You should also consider all the security and safety measures on available including fire escape, security cameras on offer etc. Knowing all these before head will make sure it’s easy for you as and when you decide to start living there. Also be weary about the power backup facilities on offer.

 

4. Understand all about the documents that your builder should have :

Having all the right documents will not only verify the legality of the property but it can also help understand the credibility of the builder and property in question. Following are the documents you should ensure your builder has:
a) Original documents of property.
b) Possession certificate and tax receipt of the land
c) encumbrance certificate
d) Location sketch and village sketch of property
e) Legal verification certificate

 

5. Check for the credibility of the builder :

Not all builders are equal and not all builders are equally famous. There is a reason why it’s like that. Make sure you only ask reputed builders to build a house or apartment for you. That way you can ensure quality in the entire building process. To know whether the builder you have approached is a reputed one, make sure you check all the past projects, look for future projects, current appreciation in value of the current projects, current demand for this builders projects etc. For detailed information check this article on choosing the right builder.

 

6. Quality of construction and materials should be ensured :

Always ensure the materials used are of top quality. One way to ensure this is to know all about the type of materials being used in the entire construction process. Ask your builder about what material will be used in the construction from cement to steel, from flooring tiles to paint. Also make sure proper quality is maintained in the entire construction process.

 

7. Design of The entire building and facilities should ensure ventilation and privacy:

the design of the construction should be such that there should be proper ventilation in the entire house. In case of an apartment there should be adequate privacy between adjacent homes so as to enjoy your alone time with the family.

 

8. Check for any legal issues on land :

Legal issues can cost you time and money. So make sure you check for any legal issues pertaining to land or the property before you buy. That way you can not only make sure the place you are buying is clean but also ensure you won’t waste too much time in unnecessary legal hassles.

 

9. Understand about all the different floor areas and the terms used :

Carpet area is the basic area that can be used. This is limited to the confines of the apartments. Build up area is the extensions of the Carpet area and includes doors, walls, windows etc. Super buildup area is the entire usable area in an apartment including common facilities. So make sure you understand all the terms involved so as to avoid any mishaps.

 

10. Learn more about Bank loans :

Before you set out looking for that perfect home understand all about housing loans and what rates you can get them. Also know if the property you are buying is pre loan approved by any banks or are there any issues relating to the same. Always ask your builder on loans and get as many information about financing the property.

 

Need more? Check our ultimate checklist while buying a house.

 

Also feel free to contact us for any information.

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