Home buyers alert: These tips will help you buy a better home

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Home buyers alert: These tips will help you buy a better home
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In a property market such as in India, buying a house is not any easy decision. Failure in delivery of flats to prolonged litigation cases, these issues can frighten any home buyer in the world. We share with you a few tips to keep in mind that will help you make better choices when it comes to buying your dream home.

Price of the property

Often, a home buyer purchases a property through a broker. While at the time of purchasing, the price of the flat may seem right, it is often realized that we have ended up with an unimpressive deal.

“The problem with impulse buying (or giving in to a broker’s seductive pitch) is that we only see what we want to see. It is easy to overlook some obvious facts while giving in to impulse temptation – the flat may not be large enough, may not have proper ventilation, may be in an unsuitable neighbourhood and others. These faults can sometimes come to light only when we have time to think about it, and when it is too late,” said Arvind Jain, managing director of Pride Group.

Quality of the property
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Often in cases of under-constructed projects, the sample flats are better than the actual ones. Hence, after purchasing the property, it is realized that the quality of construction is poor or inferior to what was shown earlier. Many times, after moving to their new flats, buyers have realise that the quality of the construction is not up to standard.

“This is a fact that can only be discovered in slow degrees. On closer inspection, one may find that the floor is warped, that the rooms have uneven surfaces and asymmetric angles, that the walls do not retain nails and screws without crumbling, that the flat makes strange noises at night, that the roof leaks and that the septic system is makeshift. These are, of course, facts that you will not find mentioned in the property prospectus,” Jain pointed out.

Lack of basic amenities

In the late 1990s, several areas that now boast of high-rise buildings in and around Delhi-NCR, either had poor or no amenities. While, the property market wasn’t murkier than the present times, several home buyers realized the lack of basic amenities immediately after they moved in to their new homes. Hence, the lesson learned is that every home buyer must do a thorough research about the surrounding areas in order to avoid regretting their decision later. Water shortage, easy connectivity are some key factors that should be taken care of, before making a purchase.

Hidden costs
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These days, many builders position their upcoming projects as luxury properties at affordable prices. A builder may lure a home buyer by building a swimming pool, or a multi-specialty hospital in the vicinity. But like they say, there are no free lunches. A first time buyer is often ignorant and does not know that he will have to pay a monthly amount as maintenance for these additional facilities. This is often realized only when he moves in to his new swanky apartment and it is too late!

Litigation

With the number of delayed projects rising, it is not uncommon for a builder to be embroiled in a legal battle. This is also true in case of freehold, wherein, the previous owner has been in legal troubles. “This can mean a lot of things – you may end up without the promised parking space, the advertised lift may never be installed, you may have to pay taxes or litigation charges accumulated by the previous owner, or may be forced to vacate the property because the whole project is eventually declared illegal,” Jain explained.

Image: Indiatimes.com