5-Point Checklist for Buying a House

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Buying a new house is always exciting whether you are buying it for the first time or have done it before. People who have bought a house before know what they should keep in mind, and the things they should consider when shortlisting properties. However, the first-time homebuyers do not have that experience. So to help them out, here is a handy 5-point checklist for buying a house:

  • Research – It is always important to do your research before buying any house. Read about the real estate developer, its track record, and the housing project you are buying the apartment in.
  • Do Not Listen to Every Suggestion – When you are buying a house, every family member and friend will give you a suggestion, or perhaps more than one. Many suggestions will contradict the others and may confuse you further. You do not necessarily have to listen to all the suggestions but you can surely pay attention to those having a good knowledge of real estate sector.
  • Do Not Take a Personal Loan – It is advisable to not take a personal loan in addition to a home loan. The rate of interest of a personal loan is much higher than a home loan. Personal loan will unreasonably increase the cost of the house and put a financial burden on you.
  • Features, Amenities, and Facilities – Whatever questions you have about the house you are interested in, ask them from your real estate developer. Make sure you clear all your doubts related to the features, amenities, and facilities, concerning the apartment. This will give you a better idea of what you can expect from your investment.
  • Ownership Cost – The ownership cost is not the final price that you have to pay to the real estate developer, but the monthly charge that you will pay for using facilities and amenities like elevator, gymnasium, clubhouse, etc., within the society and the building. Decide whether or not you can pay that monthly charge.

Whether you are checking out the houses by top real estate developers in Chennai, Mumbai, Delhi, or any other city, it is crucial that you keep this 5-point checklist handy with you.

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