10 Things to Look at Before Buying a House

10 Things to Look at Before Buying a House

By siliconindia   |   Wednesday, January 4, 2012


Bangalore: Owning a house is like a feather in the cap for most Indians.  It deals with the emotion of the investors. Buying a house require long time to come across one good location. Here are some points to follow before buying a property.

1) Document the Pre-planning

People purchase house occasionally and Pre-planning is the exact thing thats needed before buying a house. These long term investments involve plenty of money and sometimes it costs the investors a fortune.  Documenting the plan is crucial and would help the buyers in the long run. The essential things to include in the planning are location, surroundings, style and interior, roads connectivity, property clearance and budget being the most important of it all. The buyers must pen down each and every details before investment.

2) Search for location

Every investor have their own personal choice to reside at. Finding a good location is another prime factor for the buyers before buying a house. This needs a lot of research, as the activity happens rarely to the investors.  The key things to look for good locations are well connected roads, better facilities with respect to hospitals and educational institutions and it should be free from land related issues. The buyers should also check on the security measures of the location which is an important factor in current date.

3) Affordability

The buyers have to keep aside their emotions and rather look at the affordability aspect whether they can buy or can’t buy. Properties are becoming expensive day by day and the market price also differs on each locations. Buyers should invest carefully before buying a house which in future should fetch no pressure or tension for them. Plenty of Banks out there in the market are giving home loans but it solely depends on the buyers to pick the most suitable one. This process needs massive involvement of the investors to get one step ahead before buying. The investors need to research on the property to look into all the desired things within the given price.

4) Visit anytime to the location

To be at safer side, it is always necessary to check the location as many times as possible. The reason is to check every detail buyers are looking for while they planned to buy a house. Visiting the site would help the investors to look around the surroundings and other nearby facilities like, schools, hospitals, shopping centers and offices. Another thing to know is the age of the building whether it requires any kind of repairs or replacements in order to avoid future problems.

5) Legal obstruction

The buyers should look into the legal aspects before buying a property. To avoid further difficulties in future it is necessary to check all the original documents given by the vendors to make sure that the property is free from legal issues. It may so happen that the seller may not reveal the hidden issues to the buyers and hence it is necessary to look into details before proceeding. The possible way to get property clearance is by the help from legal advisors, utility departments, tax departments and the buyers can also look into the newspaper archives for any related news regarding the property.

6) Cause for selling

An important thing to check is the cause for selling the property, if it is an old house. Investors have every right to question directly to the vendor about the reason behind selling. It could happen that the reason mentioned by the seller may not satisfy the buyers but it is compulsory to check whether the reason is authentic or not. There may be other reasons also if not any serious issues but the best way to get the actual reason is from the neighbors, near government agencies and local shop owners.

7) Explore nearby area

Without exploring the preferred area, one may not know the things in and around. By doing this, the investors would know the advantages and disadvantages of the location. Moving on, some buyers may not prefer if the house is near to the commercial market or any highways on the contrary some buyers make sure that the house is in close proximity to the markets and highways.  So it is better to check the area thoroughly before buying a house.

8) Official procedure for buying

The official procedure defers from place to place. After finalizing the deal, this procedure is the finishing step. While doing the official formalities, the buyers should verify all the details provided by the sellers. This can be done by contacting an expert agency to clear up all the formalities and hand over the property ownership to the buyers.

9) House inspection

This is the most important thing buyers need to check before buying a house. This check includes every single detail of the house such as the structure, position, water controls, storage, roof, kitchen and bathroom, electrical system and security.  The reason behind the inspection is to make sure that buyers get to know every aspect of the house completely and also to figure out if any improvements required. The other reason for the inspection is to compare if the house is really worth the price.

10) Tax related issues

Tax bills differ for each location and it is an important to look at the tax bills before fixing a deal. For this, the buyers can ask for the recent tax bills from the sellers because eventually buyers will have to suffer if they have to pay huge tax bill. So, to avoid this trouble the buyers have to look at the newspaper archives or talk to the realtor. In some cities schools are funded through property taxes which mean people of the city have to pay more tax, to avoid these circumstances the buyers should look into it thoroughly.

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