For most people, the journey of purchasing a home is often complicated and riddled with questions and worries about their decision. However, buying a home is not as stressful as it appears if you do substantial research beforehand and has clarity about what you require. Apart from location, price and documentation, there are other criteria that save you from investing in the wrong property. If you are a first-time home-buyer, here are a few tips that will come in handy when you are out and about in the search for your dream home.
As important as it is to know where you are investing, it is also essential to understand whom you are investing in. Read about the builders and their market reputation before you make a decision. This will help you gain an insight into their credibility. If the property you are purchasing was built by a well-known builder, you have a better chance of getting your house loan approved by the bank. Aside from that, buying from a reputable builder means you won’t have to worry about the quality of the house. Furthermore, all properties developed by reputable builders will be RERA certified, with a clear tax structure and approval.
An occupancy certificate is a document provided by a local government agency or planning body once a new project’s development is completed. The certificate demonstrates that the project was constructed in accordance with the appropriate building codes, regulations, and laws. Before buying a house, ensure that your builder has received his occupancy certificate because in the absence of a certificate because a project is considered an unlawful construction in the absence of an OC and the local municipal council has the authority to start legal action.
The RERA requires developers to register their projects with the body established by the Act. A buyer who wants to acquire a property in an RERA-regulated project should check to determine if the property has been registered with the authority. This is an essential step because legally, all builders are required to register under state RERA and if they have failed to do so, the property can be deemed illegal.
Quality of Construction
You want your dream home to be a safe haven and thus, before purchasing a property it is necessary to check the construction quality. Strong houses are never built on weak foundations. To inspect the quality of construction, you can inspect the soil, ascertain the design and structure, check safety features and ensure that the plastering and painting are of acceptable quality. After all, you would want your house to withstand earthquakes or heavy storms.
Transparency in Paperwork
Due investigation and understanding of your rights can surely protect you from developers’ unethical activities. In an industry where transparency is still lacking, it is important to physically check all paperwork before purchasing any property.Before you agree to enter into any agreement, you must thoroughly read and understand all of the terms and conditions and clauses specified in the property paperwork. Furthermore, due to the frequent use of legalese, you may find the working hard to comprehend. Unless you examine a legal literature on the subject, do not presume a word has a precise meaning.
As a first time home-buyer, there are certain obstacles that might come your way. However, with this holy grail of advice and tips, you can dodge these bullets and have a smoother process of purchasing a house.