If you want to buy a new property, that means you have achieved a great victory. Buying a new home or apartment is not a small thing. It is considered to be one of the greatest achievements one can have.
A property whether it’s a big house, a huge bungalow, or a small studio apartment is itself a huge investment in terms of property investment. We all have a common dream to buy a property at any point in our life but most of us planned the previous steps to buy a property like earning the needed money.
But remember that buying a property turned out to be quite a tough job for anyone. If you are all set to buy a property that means it is time for the house-hunting process. Before starting the process there are a few things that you need to look into before buying a new property.
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5 Things To Look In Before Buying A New Property:
Except for the fact that you need to arrange a huge amount of money to buy a property, many other things require your attention before buying a property.
Let me inform you that buying a property is not an easy job, you need to take care of every single detail of your property because you don’t want your dream to turn out differently. So here is the list of 5 five things to look into before buying a property.
1) Set A Budget:
One of the most crucial and first things that you need to do before even starting the whole process of property hunting is to set a budget. Buying a new property is a huge step that anyone can take in terms of investment. This entire process needs proper planning.
By setting a budget for your home you can shortlist the properties that can fit in your budget and go to see those properties. Inspecting properties that are out of your budget can only waste time and create confusion. And do not forget to add the registration and stamp duty costs to your budget.
And the other additional costs like the payments of the inspectors and lawyers, etc. You can make a list of all your expenses during the whole process of buying a new property and restrict amounts for each thing.
There are also a lot of matters that need your attention like you have to add your interior and furnishing cost into your house budget. Even if you decide to do a minimal house interior still it will cost you money so don’t just invest all the money you have in buying a house.
But if you have a tight budget then remember that you can always change the interiors but it’s gonna be much harder to change your property.
2) Check The Reputation Of The Builder & Construction Quality Of The Project:
Another important thing that needs attention before buying a property is the reputation of the builder and the construction company because that ensures the quality of the property.
Buying a property is a big long-time investment and you can not invest in something that doesn’t even have quality. You need to find details and information about the previous projects of the construction company.
Some builders try to fool you by giving the square foot details that induce areas like lifts, stairs, lobby, etc. which is wrong. And if you are planning to buy a property that is still under construction then you can visit the construction place and check for the construction quality by yourself.
3) Location Of The Property:
During the property hunting time, you may find some properties that have every amenities you are looking for and even fit right under your budget but at a time you need to remember that one of the most essential and worthwhile factors of a property is its location.
The location of the property is directly connected to its price. Check the location and the accessibility of the property from various places, the road conditions, and its distance from the main road, and most importantly ensure that the location is safe for you and your family.
Also check the nearest distance from metro and train stations, bus stands, schools, markets, and hospitals from the new property.
4) Resale Value Of The Property:
The resale value of every property has huge importance. Many people buy properties as an investment because the interest on the right property is much higher than any bank returns. But those people who buy a property with a lifelong residence plan also have to check the resale value before buying a property.
Because none of us has seen the future, what if you need to sell or rent the current property you live in under some extreme circumstances? That’s why you need to check the resale value of the property.
5) Water & Power Supply:
Just imagine that you finally found a new property that resembles your dream and also fits into your budget but after completing the process of buying a property you find out about the poor quality of the water and the often power cuts that happen in the property.
Yeah, it’s a nightmare for any property owner. That’s why the supply of water and power should be one of the first questions that you ask the builder.
Conclusion:
To wrap it up it can be said that these are the top 5 things to look into before buying a new property. But those are not the only things you need to keep in mind before the house-hunting process.
Some other things like the other facilities of the property including parking, security, lifts, and the neighborhood of the property. Do not forget to take legal guidance from a professional to see if everything is safe and legal for the property. We hope this article will be helpful for you.
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