Buying A Home In 2024: Top 10 Crucial Things To Remember

Many people choose to purchase a home once in a lifetime. Before making any decision consider all factors involved in buying process from finances to how this will be suitable for family members. Here we have gathered the top 10 crucial things to remember while buying a home in 2024.

Builder’s Reputation and Overall Brand

Buying a home is a long process which involves a lot of research and planning.

While finalizing the project it’s crucial to check the builder’s background and career history before you purchase a property. 

How many jobs he has already completed, the length of the delay, Visit the builder’s website to view completed and ongoing projects. 

You must be able to uncover some key details about the prior project if you conduct a search on the internet using its name.

Also, check out the conversation surrounding the developer and the property.

Also, Read What Is A Builder Subvention Scheme In Real Estate?

Location Of The Home

The ideal location makes a home more desirable, and as demand rises, so do real estate market prices. 

Although you pay a little extra when buying a property in an advantageous area, in the end, you’ll have a lot more profitable options. Location is an important factor when buying a home.

Area and Locality of the Project

When buying a home you should look into the neighbourhood’s general demographics. 

Will your family be safe there, and are you comfortable there? The nighttime will it be secure? If your wife or mother wants to take an hour-long walk, will they be able to do so? Before purchasing the property, you must respond to a few questions.

Also, read Top 5 Methods To Find The Valuation Of Property Or Apartment

Connectivity and Transportation Availability

Many things need to be considered while buying a home one of the important aspects is the connectivity offered by the project.

• Even if you find the ideal home which has everything you desired the project is far away from the city and has poor sources of transportation available then it is a red flag for the project.
• The proximity between your office and the home is a crucial factor to consider before buying. You have to contend with that every day. 
• A property that is 3 kilometres from your place of employment is considerably different from a property that is 12-15 km away. 
• Long distances may result in increased fuel costs, missed time travelling, and daily frustration and exhaustion for years ahead.
• If you are buying a home which is at a long distance from the workplace, schools and colleges then check for available transportation modes.
• When you start your property search, take note of how distant your desired communities are from major highways and public transportation (buses, commuter rail, metro, etc.).
• Determine how much daily congestion you are willing to endure getting to and from work, and consider if the advantages of residing in the neighbourhood of your dreams exceed the inconvenience.

Also, read Navi Mumbai Metro Line- Route, Map, Fare, and Latest News

Social Infrastructure

Buying a home can challenging sometimes when you think about all the factors involved in a buying decision.

Social infrastructure is one of the important factors you need to consider while buying a home.

If you have kids, this is perhaps the most important thing to think about. 

To ensure that your children receive the precise level of education you desire for them, make sure you conduct a comprehensive search for schools in the region where you anticipate living.

A significant issue is how close amenities like hospitals, retail malls, schools, colleges, your own workplace, and of course recreation areas are to potential property sites.

It shouldn’t happen that you save money on a house but then spend it driving your kids to school every day. Access to all other essential locations is also crucial.

Prospective Rental  

People frequently move to another location after renting out their property. 

If you later discover that the home is not particularly desirable from a rental standpoint, you will despise your choice.

Simply be aware of the fact while buying a home and consider properties only from this perspective. 

If your property is centrally placed, adjacent to a college, or near a business district, you won’t have any trouble finding tenants.

Also, read What is Rental Yields And Why It Is Important In Real Estate

Future Resale Potential

When we purchase a home, we become emotionally connected to it and anticipate living there for several decades, but nobody can predict when they will pack up once more and relocate for a variety of reasons. 

It will be a really horrible situation if you later realise that the home was good for yourself but can be good for someone else. 

Consequently, you must also consider the “resale” perspective of the property you purchase. Will another person find the property appealing? 

Think about this once more. For instance, if you were looking at a home with shared parking, what would happen in the future when everyone you spoke to wanted private covered parking?

This point should keep in mind while buying a home.

Also, read Buying A Resale Flat? Here Are The Important Things To Consider

Future Developments 

Purchasing property involves various elements to consider, if you are buying an under-construction property then you are required to verify all the future developments around the area. 

Most properties that are under construction are located far from the city’s centre. Therefore, it is crucial to consider the area’s potential future development. 

Find out the future development plans for the roads, flyovers, projected malls, and additional potential developments that may occur during the next 3-6 years. 

Future plans may exist for the location if it is not currently well connected to the main metropolis.

Also, Read How To Setup Right Budget For Buying An Under-Construction Property

Offered Amenities

In today’s almost every developer offer different kinds of amenities inside the project.

While buying a home you should evaluate what amenities require for you and for the people you live with.

You should also look into the amenities that come with the property. 

Some of the features include a clubhouse, parking, lift, home automation, swimming pool, power backup and gymnasium. 

You can be a straightforward person who only wants the bare necessities, but you also intend to ensure that the house has excellent resale prospects, you ought to consider these factors.

Since you or those close to you will care about all of these things, someone else perhaps your next customer might be interested in them.

Quality of Construction

The project construction quality is a major point buyer need to check while buying a home.

Check the walls, their general appearance and feel, how the finishing is done, and whether the paint looks new or immediately ready to be applied.

Check the fitting, wiring, tiles quality etc. If it’s an under-construction property, your only choice is to conduct an internet search regarding the builder, its constructability experiences, and what customers have to say about it.

You can learn more about the building construction you are buying by searching for the contractor’s name or the name of any previous project.

Documents Verification

Buying a home needs a lot of capital, and any mistakes made along the way could cost the buyer a lot of money.

This is a crucial step while purchasing a property to check all the necessary documents.

The buyer can make sure that the purchase gives a calmness and a feeling of safety by receiving proper legal advice, carefully reviewing documentation, and verifying pertinent information in regard to the property.

Here is a checklist of documents you should verify while buying a home.

• Title document
• Land use permission and conversion certificate
• Occupancy certificate
• Construction certificates
• RERA certificate
• Master plan
• Property Tax Receipts
• No Objection certificate

Also, Check out How To Setup Right Budget For Buying A Ready-To-Move Property 2023-24

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