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Buying a house involves multiple premeditation – including legal, financial and emotional premeditation. so plan accordingly before you buy a house. Here are few tips, which will help you in buying your dream apartment:
Should it be a plot for building a residential unit, which one of the choices is your priority or affordability a built-up house, flat in a society or apartment constructed by a builder? The actual area and size will depend on the size of your family requirements, your personal requirements and your resources. Think about your long term requirements. May be you and your spouse require just a one-bedroom residential house at this point of time but may be you have children tomorrow or may be your parents will stay with you. In that case, a two-bedroom or even a three-bedroom unit is a better option. Thus, a fine balance in the long term requirement and availability of financial resources at your disposal will determine the ideal size, nature and location of your dream house.
So go on and research, research till you get your house that fulfill your requirements.
The very first thing required for buying a house is research. check on the websites about the best properties in the city, read available materials, talk to relatives, friends and experts, and read blogs, market trends , latest news on properties which will give you idea about options available in the market.
Before starting house hunting first of all make a checklist list of all the features that are most important for your dream house. It will head you towards the right of path of search and it will also save you from wasting your time and money.
Planning is important:
Write down all your requirements such as what are the amenities & specifications you need, whether you need a big kitchen or a store or may be you would like to have a basement. would you require a loan. Take Loan pre-qualification which will help you in determining your money resources that you can afford it will also provide you a Budget base for your hunting.
Major concerns while buying a house or questions that can keep you in stress modes are given look for answers through your research and plan accordingly:
If the property is legally authorized or have all the legal documents in place.?
If the property has any loans on it?
whether the property is constructed according to the housing laws in your locality?
if the property has any illegal encroachments.
if the property has any pending case or prior cases in court.
whether the sales deed is on the place.
if the property is free hold or on lease if on lease then for how many years?
whether the property been legally transferred?
when buying a flat from a builder:
Legal:
Check for development agreement and authority for conveyance in favor of the builder.
Check if the occupancy certificate has been issued by the concerned municipal authority along with approved building plan
Check encumbrance certificate.
Check Urban Land Ceiling Clearance Certificate, if applicable.
Clarify on Floor Space Index and undivided share of land.
Obtain proper sale agreement on your initial payments.
See the sanctioned plan.
Ascertain that the project has a clear marketable title.
Verify the plinth area and carpet area.
Register the property.
Approvals:
Check if some reputed housing finance companies or banks have approved the project. This will also help in obtaining a loan, if required.
Check approvals from Municipal Corporation, Area development authority, Water board, Electricity board, Sewage board.
Check whether the construction is as per approved plan.
Check whether the construction is earthquake resistant.
Amenities/Others:
Verify whether the specifications defined by the builder have been used and delivered. This would include the quality of construction, type of flooring, quality of wood work, electrical items & wires, Quality of Miniature Circuit Breakers (MCBs) fitment, Kitchen and bathroom fittings, check for water sewage.
Check for transport connectivity.
Check for levels of Pollution and other sources of disturbances in the area.
Buying a house from house owner:
First of all take a close look to the property, construction year of the property, Keep handy all notes and points that you look for in a property and once you get satisfied with majority of them, you can take a final decision quickly. Following broad checklist will make your choice easy:
Legal things to look for:
Verify the title deeds of the owner of the property. now days for various cities you can check the ownership online.
Obtain non-encumbrance certificate for the minimum period of last 13 years.
Check the tax payment receipts.
Obtain current valuation from a registered valuer.
Check that the floor plans were sanctioned by the authorities and the construction was as per the plan.
Check whether the property is registered under the name of the owner.
In case of a society flat, check with the society management about its bylaws, dues and rules for change of membership.
Approvals:
Check if some reputed housing finance companies or banks have approved the project. This will also help in obtaining a loan if required.
Check approvals from Municipal Corporation, Area Development Authority, Water board, Electricity board, Sewage board.
Amenities/Others:
Verify quality of construction, electricity points, MCBs fitment, Kitchen and bathroom fittings, check for water seepage.
Check for transport connectivity.
Check for any anti-social/ criminal activities in the neighborhood.
Pollution due to industries etc.
these are some tips that can be helpful to you in your house hunting so if you are planning for a house GO AHEAD.
for more info log on to: www.homeseekers.co.in

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