It doesn’t matter if you’re looking for a new house, a new plot of land or a property asset, your investment matters. Putting your money into safe hands for having a safe future is something that is responsible and although it might sound scary to invest, it is the smart thing to do.
Whether you are someone who has already invested or someone who is looking to invest into a property, you can tell by experience or by the tell-a-tales of other’s experience that there were a few tips you wish you were told before investing. And so here is a list of things you need to keep in mind before buying a property.
1. Legal Rights
You might think your developer might not do this to you, or maybe that he boasts of a clean background, it is always better to be safe than sorry. Trusting someone with your hard earned money isn’t something that you should do blindly, so although your developer or builder might tell stories, it’s best to back it up with facts and figure.
Here are a few questions you should ask yourself and your developer before investing in a property.
- Has the property cleared legal titles?
- Is your property built on reserved land?
- What is the operation history of your developer?
- Think about Cultivating your rights for delays.
- Do you have all the necessary papers ready to buy a property?
Once the legal work is all clear, next thing that you have to keep in mind is the connectivity. Since you’ll be living there, it goes without saying that it has to be convenient for you in the long run. Your property should be well connected to you and your partner’s workplace, your child’s school, hospitals, entertainment sectors, restaurants etc.
Finding the perfect property that has all these amenities is very difficult, but if your property is close to public stations and depots, and has is accessible to cabs and rickshaw drivers, then you can be well connected to other places as mentioned above.
Also, if you’re buying a land in a planned city then you are mostly sorted in this area because the developers take care of your comfort and connectivity.
Safety and security just come hand in hand when it comes to buying a plot. A property should be safe in terms of legal matters and physical safety of the future owners. The property should be in a safe location with a clean history. The property should have proper means of safeguarding the area like proper checks, entry passes, proper fencing etc. Security is a must especially when you are living with your wife and children. The built of your plot must be with high quality materials and must have proper finishing so that you feel safe in warmth of your house.
- Society/ Neighborhood
This abstract aspect of property buying is completely undermined. People tend to forget that the society their child lives in will mould their personality and mannerism. Society encompasses the people who will live around you and influence your lifestyle and deem things as acceptable. Although change is good, You need to find a property in a society whose frequency matches with yours or it gets difficult to adapt and you end up losing your essence. The amount of development around your property makes a difference as to how secure your plot is. It also decides how your lifestyle would be.
The aesthetic value of your plot is of utmost importance. The environment you live in must be fresh so you live healthy, the surroundings must be clean, the roads must be well maintained, the presence of trees in your locality is also a bonus point. Both the emotional and physical aspects of your property determine your livability quotient.
All this being said, you must also keep in mind the lighting and ventilation in your house, the amount of privacy you’ll get, the re-sale value of your plot must be high etc.
Now that you have all this in mind, all you have to do is look for the perfect home. Sure there will be some shortcomings, but if the pros are heavier than the cons, you can always find a way around.
Happy House Hunting!