Be smart, question your real estate agent before buying a apartment and stay worry free
Owning a home is like a dream come true as the property squeeze has forced many prospective buyers to look at a relatively affordable accommodation. With busy lifestyles, people are looking out for accommodations which require low-maintenance and are complete value for money. The boom in the real estate sector has led to the emergence of several home developers who offer a decent standard of living to its potential buyers.
However, before purchasing any property ensure that you have gone through the following checklist. There would be some notable points that only you can collect information and your broker/real estate agent won’t tell you. These are –
CHECK LEGAL PAPERS & STATUS OF THE PROPERTY –
Before settling for any property, do a background study of the developer and make sure that property which you will be buying has no legal issues. Consult a legal adviser for the same who can analyze the financial status of the developer better. As soon as you receive the confirmation from the adviser, you can proceed to the next level of putting in your hard earned money into the property.
KNOW YOUR NEIGHBORHOOD –
Unless and until you won’t spend a considerable time at a particular place, you will not get a proper idea about the locality. Knowing your neighborhood is really crucial. You will get the idea about the crime rate, basic amenities and traffic snarls, if any. Speak to people in the locality and gather as much information as possible.
PROPER VENTILATION –
The increasing levels of pollution in metro cities has forced some people to move out from the place and settle in the vicinity. If you are one among them, check out that the building has allocated enough space for natural light and ventilation.
ARE THE MAINTENANCE COSTS INCLUDED? –
There might come a time, when the agent won’t tell you the ‘actual’ cost and take hidden charges in the form of maintenance. Find out whether the charges for car parking and using other amenities are inclusive of the price quoted. Apart from it, check with the association about the security measures that are in place.
DOES THE BUILDING NEED RENOVATION? –
Check with the agent or an expert architect to estimate the age of the building. Also, consult the developer if anything needs repair or replacement.
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