|
Planning to buy a property? What is on your checklist? The price or the place, value for money or long term future benefits, or do you just want to buy a home for staying? If you are confused and all these questions are bothering you, then you’ve come to the right place. If you are first time property buyer or a real estate investor, here are a few quick tips which will not only help you become familiar with the real estate sector but also will help you in buying a nice home. Research A very important aspect of property buying, if you are already sure on what you want to buy then you must do appropriate research in that particular field. Knowing the current market scenario is very important so that you should know about what the current market trends are particularly in that neighborhood where you wish to make your purchase. Location Have a brief look at the location and the locality. It is always advisable to look for a property which is located in or around a prime location. The location will also have an impact on resale value, so, if you buy at a far off place, the chances are few that the value will appreciate at a substantial rate. Budget If you don’t have the budget for buying a particular property, then it's no use in wasting time on that. Rather, you can look out for properties which match your budget and requirements. You don’t want to spend everything in the property leaving you with shortage of funds foe other purposes. Hire a Professional If you’re not sure about the property values or the resale value in the future or you’re uncertain about where to invest, you can always seek professional help. There are a lot of property agents who are available to provide professional services in this field. You may also seek legal advice regarding sale or purchase agreement and get the documents assessed. Registration Fees and Stamp Duty This is a very important expense, which you’ll have to pay to the government. You must be aware of these charges when you’re preparing budget for buying the property. Many people don’t know that if they take the property on a female’s name then registration charges are less. Check with the local authorities regarding such information which will help you save your money. Extra Costs There may be many additional cost attached to your transaction which may not be disclosed earlier, such as notary fees, service charge by real estate agents, mortgage processing fees, surveyor charges, etc. . Ask whether car parking would be provided or you have to pay extra for that. What are the annual maintenance charges? All these things may look nominal, but they add up to you property cost eventually. Mortgage Eligibility Mortgage /Home loan eligibility will depend on your age, earnings, repayment capability, and existing debts. The eligibility criteria may vary from bank to bank, you have to choose wisely so that the deal gives you maximum benefit without leaving your pockets empty. Insurance A very vital point which buyers tend to ignore or delay the decision, property insurance will safeguard your financial future. The cost of taking insurance is relatively low and would provide coverage in case of property damages or any legal issue. Miscellaneous Apart from the above, there are other aspects also such as tax planning, builder background check, stability report of the construction, locality amenities, resale value in the future, connectivity with railway station, airports, bus service etc. The list is extensive but if you keep in mind the above points, you’ll end up being an informed investor/buyer getting value for money deals. Buying a home in Kerala becomes hassle free with Official Partner – THE PROPERTY SUPERMARKET. We are a leading Kerala Real Estate company having in depth knowledge about the property sector, providing training assistance in dealing with all types of properties.
Related Articles -
Kerala Real Estate, Property for Sale in Kerala, Buying and Selling a Home in Kerala,
| 
