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Things to know before buying Homes
Home is a safe space for everyone. It is where you feel comforted and the first and last resort to your heart. In our lives, we all plan to achieve our dreams and bring them to reality. One of the most common and mutual dreams of everyone would be buying their own house/home. It is something more than a real estate piece to the person. You buy your home with your hard-earned money and put all your heart and soul to make it the finest place possible.
Well as beautiful as our dreams are, we should keep them safe from getting tarnished. Buying a home can be a tricky task. Not all of us are aware of the do’s and don’ts of buying a real estate property. Here is an important checklist for you to make sure that you tick them all before buying your dream house.
1. Employ a trusted realtor
Throwing straight-up facts, working with realtors is a tricky business. We are aware that realtors get the cut of the sales price from our deal and that’s how they make profit. As humans, we tend to spill over greed and perform false deeds. Make sure that your realtor is certified and is actually attending for your goodwill and better guidance.
2. Budgets and Finances
The most considerable advice on buying the house would be to consult a loan office and get the good idea of what you’ll be dealing with. Budgets and financing can become a hardship if not dealt in the right way. There are so many loopholes to be filled and even the many, many documents. Along with home loan comes a lot of miscellaneous expenses that needs to be prepaid or settled on EMI’s. The budgeting of home finances can be tedious but if done right, can save so much or time, money and efforts.
3. What’s the Location?
A lot of people have dealt with this location problem after buying their house already. You must finalize the location which is lucrative and has a good pace with market dynamics. Also make sure about the safety measures and road connectivity. Investment becomes worth is the location is as prospered and worthy as the value of the property. Also keep in check with the proximity of important venues such as hospitals, schools, supermarkets and commuting services such as closest metro, train station or bus station.
4. Construction Quality
There is no shame in saying that the quality of construction has become poor in general. The very basis of this statement is that builders and companies are washed up with the thought of quantity over quality. They spend reckless amount of money in towering more and more buildings rather than adding quality and firmness to it. Thus, while buying a house, look for the builder’s reputation and previous ownings of its work.
5. Extra Costs
The process of buying house doesn’t end at purchasing the property itself. You need to calculate the future expenses that come bearing with living cost of the house. All the basic amenities such as water supply, electricity, gas line and many other details need your consideration. Prepare a rational budget system to allocate your expenses as per your requirement.
6. Renovation and Furnishing
Another adding expense to your house hunting is its renovation and furnishing. The best advice that we can give you it to find a home fully renovated and with at least some furnishing in it, if not much. In this way you also save the extra cost of getting it all done from someone else and having to delay your shift in your new home.
7. Amenities
This era is all about the extras. Almost all the societies of independent homes provide extra services in the name of amenities which are, to be honest, vey helpful. Amenities that you look for can be park, 24*7 CCTV surveillance, tight-security, bus top for kids, domestic worker’s facility, market, gym, bank, hospital and the list can go on. It’s the very basic necessities that you realise of, once you enter and start living at your home. Thus, take these amenities of prerequisite of any home that you wish to buy.
8. Property Insurance
One of the most vital considerations while buying property is to get done with its insurance. Future is uncertain and once you have been declared the legal owner of the property, its durability is in your hands. If something unfortunate happens, the seller or the builder is not answerable to the cause. Therefore, property insurance always comes handy at the times of damage.
9. Re-sale Value
Market always stays in dynamics and so does our life. One day you are at some place and the next day might be a whole different expected story for you. While buying your dream home, make sure you check for its re-sale or rental value. Investing in it, or living it in, both purposes are valid if the resale value is worth the purchase. Keep a close eye on the market value or your chosen area’s property assets and the investment could never go wrong.
10. Everything as promised
Last but definitely not the least advice is to make sure you are delivered everything that is promised by the realtor as well as the seller. Sometimes it is all sparkles but no shine underneath. You can assure it while getting information from your neighbours about the area, vicinity, social environment, services and basic lifestyle measure. It is up to you how much you can get from the place and make it comfortable for yourself. Read the agreements properly.
Home is a valuable asset and nothing substitutes it. Note that finding the right home can be tiresome and exhausting and you might will to end up with the last best option that comes your way. But there is definitely the right one just around the corner of some place amazing. So, keep looking for your dream house because dreams are ought to come true. Make sure to keep up with the above considerations and give time to it. The final result of this process will definitely be worth the toil. Happy home hunting!