One needs to very cautious while buying a new home as buying a new house brings up different issues than buying a pre-owned home. Therefore, buyers need to research a set of questions before making an offer on a new house.
No one now likes to continue living in a rented home for longer. Deep down the heart somewhere, people desire to be the owner of their own house. Often, first time buyers endure problems of choosing a right housing as they are unaware of the realty market situations.
You never know the property you buy today turns out to be a dispiteous nightmare for the rest of your future due to some or the other reason. Therefore, if you intend to purchase a home of your dream, familiarize yourself with some key information.
SO, if you're vowing out with the old and in with the new to shop for a home, here are six tips to help you make a smart buy.
1) It’s Always the Money and Money Factor:
Everyone knows buying a home is not a cup of tea; it involves a huge financial investment in the first place. In housing, one of the most crucial decisions is to have enough financial backup either from bank money or personal savings. However, lending institutes do not finance 100%, it is somewhat close to 80% of the entire cost of a prospective home is what a bank grants. Also, their own mandatory set of eligibility criteria for home-loan seekers can make you sometimes suffer. It is better to approach to the nearest bank of your residential area for complete information.
2) Suitable Location:
It’s important to focus on location - a suitable place that will reward you well for your property investment. Often, the choice of location is always individual centric. But, a good location is good only when it has better public transport facilities and enhanced connectivity to major landmarks such as schools, commercial malls, etc. Also, the condition of law and order in the area should be well in order. Obviously, nobody will certainly not want your dream home get burgled in your absence. Here is a nice post to read for more information called: 5 Important Things to Remember before Buying a Property.
3) Selection from The Varieties:
There is always a variety for the potential buyers to choose the one that suits their needs. For instance, buying an under-construction property is comparatively more affordable than that of ready-to-move-in housing residence. On the other hand, purchasing a resale property might burn a hole in your pocket. That will be a great accommodation to have, as property is not legally disputed and doesn’t involve much paper-works. An old property can be of a cheaper investment option, keeping in mind that you can’t overlook the needed costs over renovation and redecoration of the property. Hence, choose your options wisely.
4) Know Builder’s Credibility:
When it comes to buying a house, you must ensure credibility of a builder. It will help buyers avoid many problems later. Therefore, you should check builder’s background, integrity of delivering the projects on time and as per the expectation of customers, and its repute. This will ensure that your investment is going to a right source and you will have a good deal.
5) Read (and understand) Your Warranty:
Warranties vary widely, so read the fine print. Warranties run from as little as one year to as many as five years. Hence, it's as important to understand what the warranty doesn't cover as it is to know what the warranty covers. Also, it is important for you to know who backs the warranty-whether the builder or a third-party company.
Getting a house is like a dream come true! Hope, these write-ups will serve the purpose of buying a dream house.
Hope you enjoyed the article contributed by Savitry Greens who are real estate developers in northern India. If you are looking to buy flats in Zirakpur then you can get in touch with them to find your dream home. They also have other projects in Chandigarh if you want to buy flat in Chandigarh.