Things to check before buying a property

Things to check before buying a property

A house is much more than a building; it is a dream and a responsibility. Hence, when you opt to buy a house, there are many factors, besides the price and aesthetics, which you will need to bear in mind to take the right decision. Here are a few of them –

Location

The location is one of the most important aspects of your property, from a real estate standpoint. Whether you wish to buy and settle down or you wish to rent out your property; the benefits that you will draw out of it will depend on where it is located.

Opt for a location that has easy accessibility and facilities, such as hospitals, banks, police station, markets, etc. available at close proximities.

Builder Verification

While there are numerous builders out there, not all can be trusted. Hence, to narrow down your list, you will need to undertake some verification of the builders’ backgrounds. Go through their social media pages or official websites, if they have one, or check out their past projects to understand the quality of work they maintain. You can also get in touch with their past clients to get a clearer outlook.

RERA Approval

Checking a property for a RERA registration can actually save you a lot of hassles and risks later on. With RERA approved projects, buyers get the benefit of more transparency. This, in turn, protects their interests and ensures accountability and timely completion of the project. Hence, when you consider RERA approved projects, you can rest assured that it is a fair deal.

Legal Aspects Of The Property

Besides the above, there are other legalities that you need to check out before buying a property. This would include the title deed, encumbrance certificate, approval of the house plan, no objection certificate, land use certificate, and so on. It is quite important that you check these documents before venturing into buying the property for more security.

Loan Eligibility

Another important thing that you need to consider before taking the big decision is checking for loan eligibility. You would not need to compromise with the infrastructural facilities for the sake of money, if you can get a loan for buying the property. Hence, get in touch with your bank and learn about your loan raising capacity.

You do not buy a house every day, which is why you need to think and rethink all the important aspects, before heading into this direction.

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