Home Buying Checklist

Key points homebuyers should consider before investing
Key Consideration: Value for Money
  • The primary factor in real estate investment is ensuring the property is value for money.
Essential Prerequisites for Buying a House
  • Carefully weigh options in relation to requirements and budget.
  • A once-in-a-lifetime investment, making optimum benefits crucial
Analyze the Track Record of the Builder
  • Verify on-ground details about completion timelines, construction quality, etc.
  • Utilize RERA for transparent information.
Find a Suitable Home as Per Requirements
  • Determine size based on family structure.
  • Assess space flexibility for potential changes.
Location Survey
  • Consider proximity for easy commuting or a quiet neighborhood.
  • Evaluate socio-economic infrastructural developments for property's capital growth.
Paperwork
  • Keep necessary documents handy.
  • Register sale deed in the Sub-registrar’s office.
  • Include RERA registration, Extracts, No-Objection Certificate, and Copy of Building Plan.
Awareness Regarding Financial Benefits
  • Understand financial benefits for cost-effective purchases.
  • First-time home buyers enjoy various financial benefits.
Legal Due Diligence
  • Conduct thorough legal due diligence to ensure there are no legal disputes or encumbrances associated with the property.
  • Verify property titles and ownership records.
Future Development Plans
  • Investigate any upcoming development plans in the area, as these can impact the property's value.
  • Consider potential zoning changes or infrastructure projects that may affect the neighborhood.
Resale Potential
  • Evaluate the resale potential of the property by analyzing market trends in the area.
  • Assess the historical appreciation rates for similar properties.
Home Inspection ( For Resale Houses )
  • Prioritize a professional home inspection to identify any structural or maintenance issues.
  • Ensure the property is in good condition and doesn't require immediate costly repairs.
Negotiation Skills
  • Develop effective negotiation skills to secure the best deal.
  • Be aware of market trends and comparable property prices to negotiate from a position of knowledge.
Financing Options
  • Explore various financing options and choose the one that best suits your financial situation.
  • Consider interest rates, loan terms, and any applicable government schemes for homebuyers.
Community and Amenities
  • Evaluate the surrounding community and amenities.
  • Access to schools, hospitals, parks, and shopping centers can significantly impact the quality of life.
Environmental Factors
  • Consider environmental factors such as pollution levels, flood risks, and Traffic Congestion etc.
  • Assess how these factors may affect the property's long-term viability and resale value.
Insurance
  • Explore insurance options for the property to safeguard against unforeseen events.
  • Understand the coverage and terms of insurance policies available for homeowners.

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