Are you on a house hunt? The phase of looking for a home can be quite overwhelming and confusing for first-time buyers. In India, it’s considered to be a long-term investment. Supposedly, the most crucial decision you will have to take as an adult will be buying a home. No one would want that experience to be full of misunderstanding, deceit, or a scam. Surprisingly, many people from metros fall prey to such frauds where sellers lead a risky deal and the buyer ends up losing their hard-earned money.
India is witnessing a huge spike in the construction of new projects for apartments and flats. Some residential projects in Hyderabad are providing top-notch facilities and deals to their buyers. But with brokers hungry for commission and offering make-believe lucrative schemes and offers, you might fall into their deceitful ways even before you realize it. So, to save you from some of these troubles, here are ten factors you must consider when buying a home.
First and foremost, you have to be aware of your resources and needs before investing in a house. It’s great if you have a clean budget without taking a home loan but home loans provide flexible deals that can increase the budget of your house.
If you are looking for a residential place then the location of the home matters. Choose the location as per your need for the house. Residential projects in Hyderabad have a variety of locations to choose from.
If you don’t like the basic structure and design of the house but the deal is just great, there is no point in investing in that house because you won’t like living there.
It’s advised to essentially meet the seller if you are buying the house through a broker or real estate agent. Doing this ensures you can do a crosscheck of all legal documents.
You must make sure the seller has paid all dues to the authorities and hasn’t defaulted.
The seller or broker will try to impose a non-negotiable contract on you. But always keep in mind that contracts are discussable and you can always make your needs a part of the deal easily if negotiated well.
RERA (Real Estate Regulatory Authority) registered projects are transparent in their approach as RERA ensures to prevent malpractices by builders.
Finalizing a house without even physically checking it might be a big risk. Advertisements are an overestimation of what the actual place might look like. Top real estate builders in Hyderabad will make sure to give you a tour of the house if you approach them.
Getting home insurance will cover your expenses in case of damages or loss.
You must ensure you are choosing a clean, encumbrance-free property. If the sale deed is not in your seller’s name, you might get into trouble later. Top real estate builders in Hyderabad assure you an encumbrance-free property always.
Now that you know some factors to consider before buying a home, you have to ensure that your big investment is viable in all ways possible.