Things to Check Before Buying a Property

Finally found the right home you want to move into? Well, you can’t move into it just yet. Before you sign the deed, there are several things you must check. You don’t want to make a hasty decision that you will regret later. Once you shift into a home, it is difficult to shift out.
To help you ease out the process involved in buying a property, we’ve created a list of things to check before buying a home.

1. Check the Cost of Ownership

Cost plays an important role before you decide to purchase a property. However, the cost of the property is not the only expense you should consider. Other expenses such as parking charges, registration charges, new furniture or furnishing cost, etc. also form a part of your cost. Such expenses may contribute anywhere between 5-20% of the bare cost of your apartment.
Also, there’s a misconception that if you’re in a building with more amenities, then your condo fees will be high. A small mid-rise building can have charges that are equally high if not higher than the ones with more amenities.

2. Pay Attention to the Usable Area and the Layout

At times, the apartment would be available based on a super-built up area. Therefore, you should know how much usable area you will receive, especially if you’ve booked the apartment while it is under construction.
Layouts will differ for each apartment. For example, a 900 square foot layout may have a large one bedroom while another home in the same building will have two bedrooms with a 900 square foot layout. Although the area will be the same, the cost may differ due to different layouts.

3. Research the Neighborhood

Check out what’s happening in the surrounding area. For example, if there are new buildings that are coming up, then they will block the view from your gallery. Also, you should know if there are new businesses coming up in the neighborhood as this can affect the future value of your apartment. Ask the residents of the security guards of nearby buildings to get a better understanding of any development that is going to take place.

4. Consider the Location

Consider the location of your property. Is it connected to a national highway or a metro station? How far is workplace from your property? Is it convenient for you to visit the places you go regularly? Are there school, supermarkets, and hospitals? You do not want to spend a majority of your time traveling from one place to another.

5. Know Your Neighbors

You want to move in next to likable and nice neighbors. Consider their lifestyle, demographics, social status, etc. If you are over 45 years of age and looking for a peaceful atmosphere, then you want to avoid college-going neighbors who are surely going to throw parties often. You would prefer people who are like-minded or else eventually, there’ll be conflicts arising with respect to parking spaces, should pets be allowed, how to maintain the garden, etc.
These are just a few things to check before buying a home. For detailed information, it is strongly recommended that you consult a professional rental advisory firm to help you select your dream home. The professionals will also look into various documentation processes and ensure that you get the best possible property that matches your needs and preferences.