5 Important Things to remember before buying a property

By Jay Dee Infra In Home Buying Tips No comments

5 Important Things to remember before buying a property

Summary 

The stress is unbearable when it comes to buying a property. Buying a property is a large commitment that requires careful consideration. It is important for ‘would-be property buyers’ to thoroughly research before they buy a property.

Article Body 

Would you spend just a few minutes viewing a property that is going to be your home for years? Some buyers do – and live with regret. Purchasing a property is a big step. It requires a lot of preparation when you are in a mood to purchase a property as it is the biggest investment of your life and even a small mis-step can cost you a lot.

If you are looking for a house in the market, you’ll probably make sure you have a roof that won’t leak, proper cabling, a solid foundation and so on. But what about the things which are not covered by the inspection?

Here are 5 important things you must consider before purchasing a house.

1) Is It Under Your Budget?? 

This seems obvious, but it still needs to be mentioned. Your first step in buying a home should be getting a pre-approval for a mortgage, before you think about whether to buy a two-or-three bedroom home. Realtors have a common way of alluring you by taking you to homes in your price range and then taking you to the most amazing home that is slightly above your budget. Be cautious that you don’t get trapped into a house that tightens your pocket to the point of breaking. Think smart!

2) Is it Located in a Good Neighborhood? 

It’s easy to fall in love with your dream home, isn’t it?? Your dream house will have everything you desire – a massive eat-in kitchen, a green garden, and a palatial pool. But did you give a thought about the surrounding neighborhood? POSSIBLY NOT!

Before finalizing a home, use an outsider’s eye and analyze your vicinity carefully. Ask people about the planned developments in the area. You should also know about the proposed roads and other intrusive developments. The outdoor amenities of the neighborhood should also be ensured.

5 tips of buying home in ranchi jay dee infra

3) Current and Future Needs? 

Ask yourself- If this is to be our forever home, will it fulfill all our growing needs over time? Are there enough bedrooms and play space for other family members? Is there space for a home office? How far are the kid’s school and your office? And then assess the home as per your answers; you can certainly foresee if this home will meet most of your standard needs.

4) Return On Investment? 

Before buying a new home, a cost-benefit analysis is very important. Plan about how much money you can put into this home. If you plan to remodel, think for a while whether these renovations will increase the value of your investment? Return on investment is not usually instantaneous; it takes time for a home’s value to increase.

5) Home Inspection? 

The last but the most important consideration- inspecting your home. You can hire a professional home inspector to catch all the areas that are not up to the mark, all the potential drainage points, and all essential problems with its structure. A thorough home inspection will protect you from costly repairs and surprises.

Forever is a long time! Hopefully everything will turn up roses and your dream of a sweet home will become your reality.

Author Bio: Hope you enjoyed the article contributed by NK Sharma Group who are real estate developers in Northern India. They offer flats in Zirakpur and Mohali for sale.

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