Residential real estate sector India is one of the most blooming and globally recognized sectors. It consists of property used for residential purposes. Purchasing a home is one of the most important decisions in a person’s life, and to make the best decision in this situation, the buyer should consider several factors, including the total cost of the house, the buyer’s financial situation, nearby amenities, and the property’s location.
Use this buying a new house checklist as a cheat sheet when you decide to buy a home:
- What is my overall budget?
A person should not look for a house without first understanding his overall budget because, aside from the purchase price, there are other costs to consider, such as property taxes, homeowners’ insurance, ongoing home maintenance, and so on.
For instance, if a buyer has limited funds and wants to purchase a home in Mumbai, they must research the real estate market and look for affordable flats for sale Mumbai or budget-friendly homes in MMR.
- What facilities are included in the sale?
Don’t think that everything you see on a house tour is included. Inquire with the seller about the furniture, microwave, and washing machine to ensure that they meet your requirements listed on the buying a new house checklist.
- Ask the seller how long the property has been listed on the market and why they decided to sell.
A lengthy period on the market could mean that the home has a serious problem or that the asking price was too high. Knowing the owner’s motivation for selling may reveal many details about the property, such as its location in a region that is more prone to natural disasters or criminality. These inquiries assist you in getting a better deal, passing on or avoiding buying a home that might turn out to be a money trap.
- Does the location fit my way of life?
Along with quality and price, a buyer should consider which location best suits his or her lifestyle. For instance, Vile Parle is one of the greatest choices if you’re looking for a wealthy neighborhood in Mumbai. Due to its proximity to the airport, social amenities etc., as well as its strong connectivity to other areas of Mumbai, it has developed into a developed region. The buyer can explore 2 BHK apartments in Vile Parle, and if the buyer is looking for low-cost options, then he can look for budget-friendly homes in MMR and affordable flats for sale in Mumbai.
- Has the property undergone any major renovations or additions?
The buyer must be aware of all major renovations, as well as who performed the work, and obtain their contact information. Improvements can add comfort and value.
- Is the house free of legal issues?
Make sure the developer has all the required approvals before making a purchase and that there are no title disputes on the property. Read the terms and conditions of the agreement completely as well.
- Does it have a stigma attached to it?
Property with a poor reputation sells below the market value.
- What is the monthly expense of utilities?
See if the house is within your monthly spending limit. Look at options to reduce your electricity bill.
In conclusion, the details listed above are some of the most important questions to ask before purchasing a home. Buying a home checklist is a must-have tool when looking for your dream home in metropolitan cities like Mumbai, Delhi, and Bangalore.
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