Checklist for New Homebuyers: Our own home is the dream of all of us. However, even after having the money to buy a house, one has to face many difficulties. Many times we invest to buy a house without proper investigation, due to which fraud has to be faced. Whether it is the normal legal process or the understanding of choosing a location. Let us know what things we should pay special attention to before buying a property so that we do not fall prey to fraud.
Things to keep in mind while buying a new property
Developer’s past: Before buying a new house or any other property, it is very important to know about the past of the developer. Before ever buying a new home it is necessary to do a thorough research whether the developer has delivered the projects on time in the past or not.
RERA Registration: Before buying a new property and paying for the purchase, it is necessary to confirm whether the property to be purchased is registered under the Real Estate Regulatory Authority (RERA) or not, only after getting the proof of registration. Buy property. This is of utmost importance as it ensures the authenticity of the builder and protects your investment.
place: Before investing in buying a new home, it is very important to know whether the place where you are buying your new property or home is right for you. If you want to buy land in a city, then most of the efforts should be made that it is located in the main city. Some essential things like school, public transport facilities, office, hospital should be present around your new home. Also, collect information about the neighboring markets as well, only then invest to buy a house.
Amenities: Once you have decided on the location and builder, it is important to understand the amenities you will get. Before ever buying a new house or new property, keep in mind whether the place suits your family’s lifestyle or not. You should invest in buying a new home or property only in those places where all the facilities are available for you and your family’s lifestyle. Even if the builder claims about all these features, still you should test it yourself.
Home Loan and Insurance: Investing in a home is a big financial decision, and not everyone can afford to pay for a loan in advance. Thus, home loan is a viable option. Check with your existing bank but also ensure that you compare home loan rates with other banks before taking a decision. At the same time it is necessary to understand the availability of insurance provided to different age groups in certain areas.
Future : Before buying a new house, also make an assessment about the future of the entire area, which development projects are going to be started in those areas in the next few years or which development projects are going on at the present time, which will give you an idea about your future. The rental capacity of the house will also be assessed.