Thursday, 22 June 2006

Significant Things You Must Explore While Buying a Property

Home buying is a not a piece of cake as it involves a long process. Usually, new home buyers come across a long list of questions before booking a property. Thus, it is very important for an individual to get the right answers to all these queries as these answers can help in choosing the right property. In the long run, these solutions or advices also help in avoiding all the hassles. For those who are planning to make an investment in property, we have listed a few tips that can help in choosing the right property.

Sterling Things to Consider While Buying a Property:

Verifying The Land Acquisition Process:

Always make sure that the land has been converted into a residential or commercial area genuinely. Sometimes, people acquire the land in an unauthorized manner which can create legal issues on the later stage.

Clarify The Actual Size of The Property:

The actual size of the property is comprised of super built-up area, built-up area and the carpet area. Carpet area is the area of space excluding the thickness of the wall. Built-up area includes the balcony and the thickness of the wall. However, the super built-up area includes the common area along with other spaces.

Confirm The Completion Time of The Project:

It is very lucrative to plan the finances and other associated things. Thus, always make sure about the completion date of the project. This will help you to arrange the existing accommodation and the payment options. Also, an individual can claim the penalties from the builder, if the project does not get completed in the committed time period.

Figure Out The Bank For Financial Support:

Some companies are offering home loans in the current scenario. Thus, talk to your consultant about the bank for which the board is giving the approval. Also, clear out the scheme that the bank is offering along with all the legal paperwork. All these elements play a vital role in justifying the quality of the service offered by realty firm.

Ask The Breakup Structure of The Pricing:

Usually, the total cost of the property is told by the consultant, but the prices is the total cost various elementary facilities. These include the prices of electricity, water, regeneration cost, electricity and parking spaces. Besides all these, taxes and legal charges are also included. If you ask all these prices, you will not get surprised with the prices later at the time of payment.

Confirm The Alternatives in Case of Change in The Project Plan:

Generally, the builders change the plans during the construction due to several reasons. These may also create a difference in the size of the apartment. Not only this, the amenities might also get changed in terms of positioning or quantity. Always confirm the measures that the builder will going to take, in case such things take place.

The overall list includes many more questions that must be asked to the real estate specialist while booking a property. If you get update with all these terminologies or the possible situations, you will never overcome various hassles or confusions that usually generates while buying a property.

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