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7 Tips to Follow before Buying a Property

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7 Tips to Follow before Buying a Property

Planning to buy a property? Where should I buy a property to live? Should I buy or Rent? What should I keep in mind while searching for a property to buy? These are some of the questions comes in mind when someone is going to buy a property and it can get you in frustration as most of the people get in. Well, here are some of the major tips you must follow to get the maximal benefit.

1. Buy or Rent

Buying a property in Metro cities will make you lose your pocket a significant amount of money while Renting can be afforded by anyone whether he is a student or an employee. So it’s better to go for rent. But if you are going to invest your money in Property, then you should check every aspect of that property like location and price are reasonable or not. According to a recent survey, 60% of people are thinking to buy a house in the coming years and they are searching for properties with their eyes open in the market. So if you don’t want your hard earned money goes down the flush, gather complete knowledge about the real estate sector.

2. Ready to Move-In Properties

Ready to Move In properties is becoming very popular nowadays among the people. People are preferring ready to move in properties over the under construction properties. This is because of the recent cases of builders not giving possession on time to their customers. This is one of the major reason for the popularity of ready to move in flats or homes. Another advantage is you may get a good deal by builder while purchasing as he has to lessen his inventory. The major disadvantage of Ready to Move In property is that it may cost you much higher than under constructed property.

3. Consulting an Expert Agent

Whether buying a commercial property for sale in Gurgaon or a house in Gurgaon, Consulting a real estate expert agent is not a bad idea. He will help you in many ways. He will understand your requirements and work towards it. He can save you a lot of money by buying the right property for you by negotiating to the seller. They have a catalogue of a lot of properties that will make your work easy not wandering here and there searching the home. Also, they will provide you with all the real estate services concluding in a stress-free property transaction.

4. EMI’s

EMI can be a nightmare in your life if not taken seriously. Think twice before deciding the amount of the loan. Go with the EMI which you can afford not only now but in the future. There are many responsibilities upon you like education of the children, Medical emergencies etc. which can bring a financial crisis in your home if not decided earlier. One more thing I would like to mention here is lenders will see on your take away pay after all deductions from your salary because it is a good sign of your ability to repay the loan amount.

5. Verified Property

Before buying a property for sale in Delhi check whether it is on a legally authorized land or not. Best way to check is to verify that property in your District Development authority. Check all the documents of the ownership and rights of the property. If you want to go to a civil lawyer, then it is the best part of it. It’s better to be safe than sorry later.

6. Agreement Documents

When you book an apartment you get a letter of the allotment and after this, an agreement is done between Bank, You and Builder. Most of the people don’t go through that document and regret later after some mishappening. Go in detail with the agreement. Read each and every point. Check for the hidden charges mentioning in the document. And at last but not least…….

7. Location of the Property

Location is directly proportional to price. If you want a flat in a good location of a city than you have to pay more. All the facilities and amenities are available to your doorstep. Outskirts location can also be a good option as it may cost you less than the inner areas of the city. One can reach the inner city in a short period of time. Additionally, you may get a peaceful environment as compared to the market areas of the city.

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Shelly Lane is a dedicated blogger. She love's to explore new things and share that on her blogs. She joined this platform to increase the reach & interaction with the users on this platform. Moreover, she has written 100+ blogs on various platforms related to various topics and categories. Follow on Twitter to them.

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