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Thursday

7 Crucial Things That You Must Check Before Buying a House

Buying your own house is the dream of every citizen. We all want our own space where we can stay for the lifetime. The need for permanent and own shelter has given birth to humankind, one of the essential requirements, and that is house.

There are two ways of how one can own a house:

  • Buy an already constructed house.
  • Build your own house on your terms
Your own house is the only way to end the calling to local movers.

7 Crucial Things That You Must Check Before Buying a House: eAskme
7 Crucial Things That You Must Check Before Buying a House: eAskme


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Whether you are buying a house or land to build the house, you need to be extra careful to avoid misleading sales in both cases.

Today I am sharing what you must check before buying a house.

Understand Carpet Area:

When it comes to buying an already constructed house, most of the time, builders talk about the super area. There is a massive difference between the super area and carpet area.

The Super area includes corridors, elevators, lobby, staircase, and every standard facility. These facilities can consume upto 30% of the super area.

It means that this 30% space is not where you will be living. Your home will be in the carpet area.
The carpet area is the area covered by your house, including walls and storage space. This can be upto 60%.


Before buying the house, make sure that you know what your home's actual carpet area is? It should be mentioned in the sale document also.

Is the project under a regulatory act:

In every country or state, there are different Acts and regulatory to control for real estate.

These acts and authorities are responsible for forcing the builder to deliver the project on time.

It is essential that you must know if the project is under the regulatory authority or not.

Approved or Not:

Before buying a property, you must ask for the project registration number or details.

This will ensure that project is legal, and they are building your house legally.

This will also help you to get a loan for your home quickly.

Trust:

Trust is an essential factor in the real estate business. Make sure you are buying a house from a trusted builder in your area or state.

Check the already delivered projects by the same builder. Read the review and consult the owners of those properties.

This can give you a better idea of if you can trust the builder or not.

Accessibility:

Accessibility is an essential factor. If your house is in the location where all the facilities are very far, then the chances are that you will not find any help in case of an emergency.

Ensure that the house you are buying is close to your home, educational institutions, and emergency services.

You never know when you will need any of these.

Is free is free:

Real estate sellers are luring buyers by showing unique offers such as the free chimney, free furniture, free ac, etc.

Remember: nothing comes for free.

The cost of everything is already included in the price of your house. So what you think is free, is costing you some good money.

EMI:

Now, this is the most crucial step. Can you afford the EMI?

Are you buying the house you needed, or are you putting the extra burden of your pocket?

Don't buy a house on the price of children education or by sacrificing emergency funds.

Ensure that your home loan EMI should not be more than 35% of your total household income.

Final Words:

Buying a house is a dream. But you can turn it into reality by thinking practically.

Do you own a house or an apartment?

What things do you consider when buying a house?

Do share your thoughts via comments.

Don’t forget to share it with your friends and family.

Why?

Because, Sharing is Caring!

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