Useful Checks and Tips Before Buying a Property

Long term property investment is one of the safest investment options in India. When ordinary citizens have enough money to invest, housing is usually the first choice and search. Undoubtedly, there are only a handful of real estate competitors in terms of long-term security and good recovery.

However, there are a few important things to consider before deciding to invest heavily. 

Right location matters

Whether you're investing your hard-earned money for investment or personal use, space is everything. The return on investment of capital is directly related to its location, location, geographical location and connections. If the property is too remote, the return on investment may be reduced. Make sure your location is connected to the right places such as schools, hospitals, and businesses.

Serving approvals

Despite strict controls by the Real Estate Regulatory Authority (RERA), there are still cases of land and property fraud in the newspapers. The real estate investor must ensure the approval of the real estate in question and all documents. Some of the important approvals that need to be checked are Tax Certificate, Power of Attorney (PoA), Certificate of Completion, Municipal Consent, Fire NOC, RERA Registration and more. Without the necessary consent, the investor may be on the side of the recipient of disputes or legal requirements.

Developer's reputation in the market: In the era of RERA governance, the lack of RERA registration has caused disappointment in the minds of investors. Before investing in a home or placing it on a bidding list, investors should consider the performance of the property developer. 

Estate agents should endeavour to select a reliable and reputable developer, as this reduces the risk of fraud and unnecessary delays in obtaining the property. Reputable manufacturers have extensive experience in a wide range of tasks, so customers can be confident in their decisions.

Finances and loans: If you're considering a home equity loan, it's a good idea to research your interest rates. You should look at all the options and choose the property that has the lowest interest rate. However, if there are any hidden charges, you should be aware of them.

If you are considering a property investment, the money factor is one of the most important aspects of the process. You must be well aware of the sources of finances to buy the property. If you have the entire money at your disposal, well and good. However, if you plan to take a home loan, you must be aware of the payment plan or conditions of the developers. In most cases, the payment is made in accordance with the construction status of the property. If the property is ready to move in, you must ensure that you get the possession as soon as you deposit the money.