What things you must check before investing in an affordable house?
Buying a property is like a dream come true, especially when you are doing it for the first time. But you need to make the right decision as it can be a daunting task sometimes. Before making the final decision to invest in a property, ensuring proper financial planning is essential as it is a lifetime deal and taking any chance can be very risky.
There are several factors you should be aware of such as loan proceedings, credit tips, and many more. Before investing in an affordable house here are the things you should check:
Price of the Property:
Before selecting a house, the very first step should be fixing the budget. If you know the amount you are willing to spend on your house, then shortlisting a house becomes easier. Online portals, brokers or newspaper listings are the ways where you can get a comparative analysis of properties in the area you are looking for.
Land Record:
You should check with the geography and surroundings of the property’s location. Also, check if all the land acquisition process has been optimally done or not. One more important factor to check whether the property is registered under RERA or not. Before buying a house, check and verify the details in the title deed as it gives all details on the rights, obligations, and property ownership.
Legal Check of Property:
Ensure that the developer has approvals and NOCs from Area development authorities, water supply, and sewage boards, electricity boards, Municipal Corporation, and the construction have all the required approvals. In case you are taking a home loan, then the concerned bank will go through the validation of your property documents before loan sanction. So be doubly sure!
Location of the House:
Analyzing the location or area where you are going to be eventually residing is important and never ignore that. Must look after the amenities, physical infrastructure and access to all the basic places. Along with affordability, safety and security are the most important factors and analyzing them can help you to have a peaceful living in your home.
Hidden and Additional Charges:
Go through all the clauses of the documents deeply and read in detail especially those penalty clauses and understand them. Additional expenses such as GST, home loan processing fee, stamp duty, registration charges, and all other charges should also be kept in mind.
North India is witnessing a rapid construction, especially if you are looking for individual houses for sale then Agra is one of the best options amidst all. Depending upon your budget, one can go choose from variant properties. In Agra, you will get multiple options like 1, 2 and 3 room set and if you want more to be added then the choices are open for that too.