Best Eight Tips to Remember before Buying a Dream Flat

flat

Buying a home is the dream of everyone’s life. For everyone, it is the biggest investment of their life. So, one mistake can be the biggest mistake of your life during the home buying process.  As a home buyer, you need to check everything related to property that you are searching. Your awareness and carefulness can protect you against unprincipled practices of the developers. In this industry, the transparency is ever mattered of discussion. It is the best way to physically inspect all documents and files before buying any property. A home buyer should have full knowledge of its contents. They also can take full guidance through a lawyer and make a clear note of all the deliverables the developer is agreed to.

Having an own home is the dream of most of the people in the world and investing money in real estate is also reward for them. In many cases, there are lots of problem in real estate like some titles of the property is not clear and there is no clear land acquisition policy. Maximum real estate projects face trouble because a full approval from a number of agencies is required before a project can take off. So, lots of questions come to buyers’ mind before buying a flat, home or any property. This article will help the buyers’ trouble free investments in real estate property. There are few things that need to be considered before buying a home, flat or property.

1. Decide the area

Before buying any flat or home, it is the most important to decide the location or area example(real estate property in Lucknow) where you want to buy flat or home, spend valuable time of your life with family members. You should check the required facilities like shops, schools, hospitals, public transports, gym, parks and the location environment etc. nearby property that you are interested in buying.

2. Confirm market price of the property

Before purchasing a property or home, you should research the market value of the property according to the location. For more information, the buyer can take help of real estate agents. Don’t forget to check recently sold properties in the same area. Try to visit many places to search the property that fits your criteria. Thus you will get good knowledge and idea for proper investment in the property.

3. Check the background of a developer

One of the most important things before buying a property is checking the credibility of the developers or builders. It means check developer’s under-construction projects, past projects, their previous or newly launched projects, the rate of appreciation in value, quality of construction, current demand in the market and number of future projects that are undertaken.

It will help to an easy comparison of the projects of developers with their competitors. The buyer should be aware of the time taken the process in the delivery of the property by the builder. A buyer should be aware of developer’s involvement in any legal feud in the past or any fraud he has done on any project. These all awareness helps the buyer in taking judiciously decision before buying any property.

4. Examination of credentials

Before buying the property, you should confirm that the developer has taken all the approvals from the respective agencies to start construction. A home buyer also must check the ownership of the land on which the project is developed or going to develop. Proper checking the allotment letter of the land is essential. You also check the land is purchased through government rules and regulation. Also, check the title paper which mentions the owner name. It helps the homebuyer to find out whether the title of the property is clear or not.

Properly examine the set of approval provided by the builder that includes floor plans, building plans, environment clearances, commencement certificates, structural safety certificates, no-objection certificates from the civic authorities, urban land ceiling certificates. The buyer also should check an NOC (No Objection Certificate) from the water authority to proper use of water for construction.

5. Receive written agreement

The buyer must have a written agreement with the builder or developer before buying any property. Where all details must be clearly mentioned like specifications of the apartment, all terms and conditions, time of delivery, payment plan and quantum of penalty (if any party default). It helps to take care of hidden costs if any exist.
The buyer must examine the occupation certificate, water and electricity connection, fire safety equipment & mechanism, property tax receipts for the project.

6. Use bank for loan

If you are planning to buy a home or a flat, the bank is the best option to take a home loan. It helps the buyer to reduce a burden of payment of the property and make the easiest process of payment for buyers to purchase a property according to the requirement. Now, there are a number of facilities available in the bank for loan process either it is private bank such as ICICI Bank, Axis Bank, HDFC Bank, YES Bank or government banks such as SBI Bank, Allahabad Bank, PNB Bank, Andhra Bank, Dena Bank etc. During the loan process, the banks do all the property checks, including credentials of the builder, to ensure that the market value of the collateral does not diminish.

So if you do not have sufficient money to buy a home or flat then taking a small loan from a bank and transfer whole checking process on the bank is a good idea. Later, if you want, you also can repay the loan to the bank.

7. Facilities and services

Before buying a flat you should consider the age of the building, how old is the building. All required facilities and services that are necessary for the perfect lifestyle. As a home buyer, you should be well aware of the number of facilities provided in the home or flat like all time power and water supply, time to time property maintenance, garden and park, sports club, gym and proper car or vehicle parking etc. If there is a membership fee on any of the services, the buyer should discuss with the builder or developer such as maintenance charge, water charges, common electricity charges, property tax, municipal tax, assessment tax and charges for hired help, like the garbage cleaner and the security. Proper check what is included in the maintenance charges and what is separate. Confirm about car parking charges, it can be separated.

Discuss with the builder for adequate security like appoint security guard all the time at the entrance, security cameras for investigation of people on the floor of a building.

8. Check walls and spaces

In maximum cases, the buyer is cheated in terms of the space, width and length of the wall. To avoid such conditions or mishaps, it is very important for the buyer to check the property, home or flat and compare it with the booklet provide before buying a flat.

cafeestate

Cafe Estate is a revolutionary venture launched by Mr. Shah Mohsin kamal MD. Of Propertyways(Since 1992) a pioneer having a quality experience of 25 years in real estate industry & a dynamic entrepreneur Mr. SK Rashed Ali.
9 Comments
  1. Earlie August 25, 2017 at 10:11 pm - Reply

    I would like to thnkx for the efforts you have put in writing this site. I am hoping the same high-grade blog post from you in the upcoming also. In fact your creative writing abilities has inspired me to get my own blog now. Actually the blogging is spreading its wings fast. Your write up is a great example of it.

  2. facetime for android August 29, 2017 at 12:24 am - Reply

    It was actually great to read this article and I feel you’re completely correct. Let me know in case you’re looking into facetime windows 10, that’s my principal competency. I really hope to check back with you soon enough, bye for now!

  3. forgot password windows 10 August 29, 2017 at 4:22 am - Reply

    You are certainly right and I trust you. Whenever you wish, we might as well speak about recover password, one thing which intrigues me. The website is really fantastic, take care!

  4. borvestinkral September 4, 2017 at 7:41 am - Reply

    hi!,I like your writing so much! share we communicate more about your post on AOL? I need a specialist on this area to solve my problem. May be that’s you! Looking forward to see you.

  5. Clayton September 15, 2017 at 5:16 am - Reply

    Ive never ever read something like this just before. So good to locate somebody with some original thoughts on this topic, really thank you for starting this up. this web-site is one thing which is necessary on the net, someone with a little originality. helpful job for bringing some thing new towards the net!

  6. aptoide app download September 15, 2017 at 3:44 pm - Reply

    I constantly look over your posts attentively. I’m also focused on aptoide apk free download, you could write about that from time to time. Have a good day!

  7. read more September 15, 2017 at 9:24 pm - Reply

    Hello, you are certainly right. I frequently read through your content closely. I’m likewise fascinated with lic of india login, maybe you might talk about that from time to time. See you.

  8. Isidro September 20, 2017 at 7:10 pm - Reply

    I was curious if you ever thought of changing the layout of your site? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having 1 or 2 pictures. Maybe you could space it out better?

  9. Patrick September 21, 2017 at 4:41 am - Reply

    Ive in no way read anything like this just before. So nice to find somebody with some original thoughts on this subject, really thank you for beginning this up. this web site is one thing which is needed on the web, somebody having a small originality. useful job for bringing something new to the web!

Leave a Comment

Your email address will not be published.