Having a house of own is every ones dream, but this dream could be very tricky and maybe even cost you a fortune. So before buying a house the best is to know what you are getting into by doing a little research of the market as well as about the house.
Research are required about the property you are about to buy because we don’t want you to end up paying anything extra than the market price or caught in pending case of theproperty.
Things to be kept in mind while buying a home:
- The most important step is to know what your budget for buying the house is. And also fixing aside your source for fund.
- In case you are willing to get home loan for buying the property, you should check your total loan eligibility and also see that you get home loan at the best possible terms. For that you must be able to read the fine print, while reading the brochures of the home loan provider.
- You should be aware of the overall cost of the property you are buying and ensure that there are no extra charges to be paid on later stage.
- You should be aware of all the details regarding the property and its location. And be sure to visit the property before buying it and also making sure about the healthy atmosphere.
- Freeze your requirements in respect to your house like; the size of the house, how many rooms will be eligible, facing and other amenities, etc.
- In case you are dealing with dealer or middle men do check his credentials and past records of dealings.
- Legal Documents of the project are very important – Title of the land, Lease deed, License in favor of the developer from concerned authorities, approval or sanction of the project from the concerned authority and water/electricity permission and the like.
- Do confirm about the properties past history, like there should be no litigation, court cases related to the property or may be pending bill.
- Confirm the expected delivery date of the project i.e. by what time you shall be handed over with the possession.
- Read carefully the terms and conditions mentioned in the entire documents, in case there are any tricky language just clarify the point as soon as possible.