Buying house? 7 things to keep in mind if you are purchasing property
Here are seven key things to keep in mind.
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Location and Neighborhood
Investigate future growth, facilities, safety, and quality of life. Location dramatically affects property value and rental possibilities.
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Builder's Reputation
Review the developer or builder's past projects, delivery deadlines, and quality. Buyer reviews might be beneficial.
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Budget and Financing
Set your budget for down payment, loan eligibility, registration, stamp fee, and upkeep. Know your financial commitment.
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Legal Due Diligence
You should check title documents, land use licenses, encumbrances, and local approvals and consult a lawyer.
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Property Valuation
An impartial property valuation ensures a fair price. This helps get a loan and estimate resale value.
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Property Specifications and Quality
Inspect the property for construction quality, layout, and compliance with the sanctioned plan. Check for features like ventilation, natural light, and build quality.