Questions A Home Buyer Should Ask
Are you looking for a house/home for sale? Buying a home is definitely a step up in life but you should not rush the process. Take your time and ask a few vital questions before signing on the dotted line. Here are some of the essential questions that should be asked before finalizing any property-
1. When will the project be ready?
In case you are buying an under-construction property, always make sure to have an accurate idea from the developer as to when construction will be completed and the date of delivery/possession. If it is a ready to occupy property, you should find out how long has it been unsold and when was construction completed.
2. The total price of the property
Many homebuyers make the cardinal mistake of going by just the selling price without factoring in other expenses like community amenities and other charges, floor rise charges, charges for compulsory fittings and fixtures, taxes and so on. Find out about the total expenditure to be borne by you in order to avoid problems related to hidden costs later on.
3. Are all documents in order?
Always strive to find out whether a particular project is suitably registered and has obtained all legal approvals from the authorities. Find out whether the papers for a particular property including the sale deed and registration document are in order or not.
4. What are the prices of similar properties in the area?
This is one question that you should ask yourself or market experts. Endeavour to find out if you are paying a fair price for your property by finding out the prices of similar properties in the neighbourhood. In case the price you are paying seems too high, see whether there is anything extra that necessitates the same. If not, then you are better off going for a more reasonable deal.
5. Can I afford it?
Always be clear about how much you can afford, especially if you are taking a loan to fund the property purchase. Be clear about how much you can allocate towards paying EMIs, apply for a sensible and reasonable loan amount and always factor in added costs like processing fees and stamp duties.
If you are looking for premium projects with world class amenities and innovative designs in major cities like Chennai, Hyderabad, Ahmedabad and Vadodara, you can always consider projects from Pacifica Companies, one of the fastest growing real estate developers in the country.
