By Everyone has a life goal of building or buying a dream home. It is one of the huge investments one can make. The home buyers must evaluate every minute detail, from loan plans, costs, taxes, and the government rules.
There are many different considerations to be taken care of while searching for a dream house. Since you will be staying in the house for an expected long time, it is advisable to look for a property that will benefit you and your family for a long period. The buying process is complicated and time-consuming.
Write down your priorities to guide you with the process of buying your dream house. These details will also be helpful to your realtor as he will know your prime concerns.
S V Shah Projects & Consultants is the best project management consultancy in Ahmedabad known for understanding the priority needs of their clients and accomplishing their goal of buying a dream house. So, if you’re buying a home for your family, talk to S V Shah Projects & Consultants for your dream project planning.
In this article, we will discuss parameters to consider before buying a dream house. Each parameter holds different importance for individual buyers, but all the points are worth considering. Let’s check it out.
1. Location
Location is one of the prime factors when it comes to buying a dream home. The real estate industry has undergone many renewals, but one thing that has remained the same is identifying a location suitable to your needs. Families prefer a location having easier access to places, like hospitals, schools, parks, grocery stores, and recreational centers. Also, they should have easier access to the main road and also check out the neighbourhood. Checking out all the above factors will help in the elimination of several hurdles in the future.
2. Commercials
Once we have finalized the location, make a point to check the surrounding areas to know the trend on prices and compare with the house you have decided to buy. The other aspects to look into are:
i. Area Management
ii. Land Record
iii. Builders Track Record
iv. Possession Date
v. Quality of Construction
vi. Builder Buyer Agreement
vii. Financing Banks
viii. Drainage Connectivity
Let us go into detail about the above points:
i. Area Management
Always make sure to check the carpet area, built-up area, and super-built-up area. Don’t just be satisfied with the carpet area, as there might be many other hidden things. It will also help you to overburden your pockets.
ii. Land Record
After you have narrowed down your negotiations with the builder, ask for the land record papers. This document is needed for the further process and is the key for legal verification.
iii. Builders Track Record
It is suggestible to check the builders’ credentials. Do not follow the promises of the builder when the building is under construction. So, before finalizing the deal with the builder, it is important to go through the below points:
Check the construction sites of the same builder in the city. Try talking to the people who are staying in the building;
Check the credibility of the builders, go to their website portal and check the reviews section;
If he is a new builder track the date of construction and compares it with the actual plan.
iv. Possession Date
Before you sign the agreement, ask the builder on which date you will get possession of the house along with all the amenities of the flat like the lift, parking, water facilities, and so on.
v. Quality of Construction
Try to find out the construction quality of the house you are buying. The process is difficult because these details can vary from new flat & resale flat. We have a few tips to know about this:
- Resale Flat Purchase
Since a resale flat is an old construction, it can be difficult to what type of materials are used at the time of construction. The best way to find out about this is to have a conversation with the residents of the building or carry out an inspection with the quality home inspectors. The inspectors can help to evaluate even the minute details of the individual buildings or the flats.
- New Flat Purchase
Try having regular visits when the house is under construction, also check the types of materials used. Check the quality and brands of the equipment used like washbasins, sanitary, switches, other safety measures, and the taps. Also, have a look at the work of the workers who are working in your flat area.
vi. Builder Buyer Agreement
Once you finalized the house and ensured it is as per your dream house, the next step is to sign the agreement with the signs of both parties. Check the agreement carefully before signing it. The main aspects to check are the payment terms, flat area, and the land area share.
vii. Financing Banks
When both the parties have agreed on the agreement and signed it, the next step is to reach the bank. You have two options- either you can select your bank or choose the banks who have approved the documents of the building with all the verification already done. You have to collect all the relevant documents from the builder, get a photocopy done for your future reference, verify the documents, and apply for the loan with the banks.
viii. Drainage Connectivity
When it comes to drainage and maintenance, most of the builders will try to avoid these things. This step required municipal permissions and government permissions. It might happen that the builder will try to delay from their side and can affect your possession. In this case, act smart and try to find some other alternatives to avoid any further delays.
Conclusion:
In this blog, we have tried to lay down some of the crucial inspection and legal points that need to be conducted before a new home purchase. SV Shah Projects & Consultants LLP will be glad to help you carry out the inspection & legalities and provide you with a consolidated report of the house inspection carried out. You can contact us on +91 70167 16088 and enjoy a hassle-free stay after you move in.