Five Things to Check While Buying a New Home

Buying a new house is a big leap in a person’s life. It takes years of preparation to reach this stage of life. For most people, buying a home is the biggest investment of their lives. It is a huge decision, and hence you need to take each step with caution.

Before you experience the joys of homeownership, there are many things that you need to consider in order to avoid unnecessary troubles later.

Here a list of five things that you need to consider before you write that cheque for booking your new home:

Reputation of the builder:

Before you finalise on a particular house, take a look at the overall profile of the builder. To ensure that you are buying a home from a trusted, and reliable builder, visit multiple government websites, user  forums, and local Websites; go through details about the ongoing, and                            previous projects of the builder.

Why: This is particularly important as many people have been tricked by fraudulent claims, and it has cost them years of inconvenience, apart from financial repercussions.

Connectivity to workplace: 

                                                                                                          The distance between your workplace and your home is an extremely important parameter that you should not overlook.  

Why: Extremely long distances between your home, and your workplace would mean high commuting costs, loss of time, and even fatigue, and related health problems.

Amenities:

                                                                                                      Most of the builders offer several amenities along with the property. Facilities such as swimming pools, club house, and gyms are considered as amenities.

Why: Even if you are someone who doesn’t use fancy swimming pools, remember that these amenities will enhance the resale value of the property in the future. Apart from the building amenities, do not forget the check the local neighbourhood amenities such as schools, markets, banks, shopping places, and train/bus stations.

Locality:

                                                                                                Home is a place where one needs to feel safe. Check the locality, and the type of people that live around the area. Does the area feel safe?

Why: Will you and your family be able to commute back safely even at late hours? These are some important questions you need to ask yourself while checking the locality of the place.

Resale potential:                                                                                          

You may think that considering the resale potential before even buying the house is not essential. The fact is, you never know what the future has in store.

 

Why: You might have to move out sooner than you anticipated due to different reasons. At that time, you may have to sell the current property. In such a scenario, a place with good resale value will always fetch you good price.

Pro Tip: To secure your home from any kind of unexpected perils and calamities, a home insurance policy is recommended. It offers financial cover to pay for the cost of structural damages that your house may suffer from after any unfortunate event.

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