10 Things You Need to Know Before Buying a Flat
Essential Things to Consider Before Buying your Dream Home
Finding your dream home is one of the most important decisions of your entire life. You cannot let go of your hard-earned money to waste. One wrong decision and you may end up in a property which may put you in trouble waters in the future. It would be best if you were careful as buying a house can also require you to take out a large loan and then pay monthly instalments from your income.
Therefore, you must do thorough homework before you buy your new flat. There are various factors you must consider before finalizing an apartment for yourself. The location, possession date, and construction quality may be the most critical parameters, yet we will discuss 10 important things that you need to know before buying a flat.
10 Things You Need to Know Before Buying a Flat
Record of the land and regulatory approvals like RERA:
It is crucial to know the land where your flat is. Research the soil quality and topography of the land. Ensure the piece of land does not have outstanding dues. The title deed should be checked and verified before you buy a house. The title deed outlines all rights, ownership, and obligations to the property.
In a residential society, gather as much information about the land on which the project is being carried out. Ensure that the land is not disputed and has all necessary approval from the regulatory bodies like CLU and RERA Approval.
Thus it is advisable always to hire the services of an experienced real estate agency in your town.
Builder’s history and track record
Though the government has done a lot to take care of your money and protect your rights, the real estate market in India is still by and largely unorganized. There have been instances where the developers could not deliver on the promised lines or delayed the possession, or even compromised with the construction quality and material used in construction. Apart from hiring the services of an experienced real estate agent, investigate the builder’s record. Please find out the history of the building firm, other projects of the same builders, and the builder’s track record with the old projects they delivered. Find out if the previous projects undertaken by the builder were delivered on time and satisfactorily.
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