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Essential Parameters Checklist: What To Look For When Buying A House
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By: priyanka narula
- November 20, 2024
Are you about to buy a new home? Do you want to know what to look for when buying a house? Then, this blog is for you. Here, we will give you a fifteen-point checklist of all the essential factors that you need to keep in mind before and during the purchase of a new residential property. With these things in mind, you will be able to make the right choice of home for yourself.
We will assess each of the parameters thoroughly in this blog. Hence, when you look at property listings, you can make an informed decision. Read on to know more!
The Ultimate Checklist for New Home Buyers: What to Look Out For
Does your recent search history have “houses for sale near me” all over it? Then, it is time for you to know the essential parameters to consider when buying a house. These are:
1. Location:
Your new home should be located in a convenient place and should be close to various essential destinations. From shopping malls and grocery stores to public transportation and healthcare services, everything should be easily accessible to you.
2. Neighborhood:
The neighborhood should also be safe for you and your kids. The security systems should be premium, and so should the amenities. This is one of the most important things to know before buying a house. You can also check whether there is a gym, a swimming pool, a community hall, and other facilities if it is a township.
3. Budget:
Researching the market and knowing your budget for the home purchase is equally essential. This involves a careful analysis of the home and what the seller is offering, whether it is a previous owner or a builder.
4. Size of the House:
The size of the house you are planning to buy is another essential parameter to consider. If you have a small family, you may want to look for a 3 bedroom house for sale. On the contrary, a 5 bedroom house may be required for joint families.
5. Type of the House:
Apart from size, houses also come in many different types, such as flats, farmhouses, duplexes, cottages, condos, bungalows, studio apartments, etc. Depending on your needs and personal preferences, you can decide which home suits you best. Remember, a good home is one that makes you feel comfortable and have a relaxed lifestyle.
6. Price:
Irrespective of the kind of house you are buying, you need to assess the price very thoroughly. If you're unsure, feel free to explore the various alternatives available on reputed house buying websites. Once you're done comparing, choose the home that falls within your budget and promises the best value for money.
7. Financial Management:
When buying a house, many individuals opt for home loans. If you are among these, assess your finances and how you will be managing the upcoming expenses thoroughly. The importance of timely EMI payments cannot be emphasized enough. Hence, financial management is one of the most crucial things to consider when buying a house.
8. Amenities:
From basic to advanced, there are numerous amenities that you should look for when buying a home. Have a list of all the non-negotiable things you need in the property handy. This way, shortlisting your options will be a lot easier for you.
9. Documentation:
You will also need to have all the necessary documents compiled together before finally signing the deal. These include employment details, identity proof, income proof, address proof, etc. Furthermore, you will need to complete the registration process when buying a house.
10. RERA Certificate:
Every property in a state is registered under the state-level authorities, as a result of which it is given a legal document called a RERA (Real Estate Regulatory Authority) Certificate. After you have picked a house from the real estate listings, make sure to check its RERA Certificate before deciding to buy it.
11. Water and Power Supply:
Inquire whether the water and power supply in the house are available round the clock. Even with the best amenities and furnishings, your home will seem annoying and incomplete if there are power cuts too often or if clean drinking water is not running through the taps 24/7.
12. Improvement Expenses:
If you are buying a pre-owned home, it might require numerous improvements. Assess the cost of these improvements and decide which party will be responsible for getting them done. These expenses can sometimes add up to become a hefty amount. So, if you are thinking about what to consider when buying a house, improvement expenses should be on your list.
13. Legal Aspects:
Sometimes, it is also a good idea to chip in the expertise of a real estate lawyer when making a deal. Now, if you are thinking about what is the need of a legal expert when buying a new home. While you examine the aesthetics, conveniences, area, and cost, a seasoned lawyer can take care of the legal parts of the deal.
14. Insurance:
Getting home insurance (property insurance) is another thing that you should not forget. If any incident causes damage to your property, the insurance will help you prevent financial strains. Also, remember to check the liability limit of the insurance policy that you are buying for your home.
15. Vastu:
The last one among the things to look for when buying a house is the Vastu. Of course, this depends on your faith and belief system. But if you actually believe in Vastu Shastra, we recommend that you follow the norms. This way, you can avoid conflicts, frequent illnesses, draining money, and many such unwelcome problems in your life.
Also Read - 10 Vastu tips for Home that will bring lot of positivity
Those were the 15 important answers to your question - what to look for when buying a house? We hope that this checklist of things to consider during your home purchase proves to be useful to you. If you want to check the most reliable house listings in your preferred city and location, you will find them at Home4Us!