Buying a home is a crucial decision, but it comes with a number of uncertainties due to the high level of stake involved. Jagmohan Garg, the leading real estate tycoon believes that the buyers are bound to have various queries at every step of the process. It becomes difficult to know exactly what to expect, especially for the first-time home buyers. You’re investing your hard-earned resources for a place you’ll probably inhabit in the years to come. A small mistake can make you incur heavy losses. Thus, it becomes imperative to consider various important factors before making the final decision. Here are some of the key pointers which can help you in making the right decision.
Before making your final decision of buying what you think might be your dream house, consider your long-term plans. As a matter of fact, hurried decisions often result in wrong choices. Thus, it is important to make sure that your decision of buying a home is well thought of. The kind of house you need depends on various factors, such as your income and other financial obligations, the size of your family, etc. Jagmohan Garg Delhi emphasizes that the urge to buy a house on impulse should be avoided. It is necessary to think long-term and keep in mind the factors like the current property prices and their chances of increase/decrease in the near future.
Conduct a complete research of the property
Conducting a complete research of the property is something one cannot afford to ignore while buying a home. It involves various important factors, such as knowing how the property is accessed (road frontage, deeded easement, etc.), if the property is a subject to covenant or restrictions, the proximity of the area to reputed schools, hospitals, banks, restaurants, etc. Other factors include ascertaining if the property has cleared legal titles or not, the annual property taxes, if the land drains well or it stays wet for much of the year, if there is potable water on the site, the flow rate , quality of water and the property’s access to electrical power, natural gas, town water or sewer. Jagmohan Garg recommends hiring a professional realty agent who can help you figure out a number of problems that you may not find otherwise. Having a word with the locals can help you in making up your mind whether to buy the property or not.
Buying a house proves to be a complicated process involving a lot of paperwork at times. Thus, it becomes important to ensure that all your documents are complete and well-organized. Make sure you understand all the terms of your contract as well. In case you fail to understand any of the terms, consult your real estate agent. Switch to another broker if he fails to explain the terms clearly. You’ll find a number of people who will be more than happy to help you.
Make a checklist of the important things
Evaluating every aspect of a house becomes practically impossible at times. Jagmohan Garg from New Delhi suggests making a checklist of the all the essentials. Carry the list with you on every visit to the site to ensure that you don’t miss out on anything.
Keeping in mind these factors, you are likely to make the best home buying decision. Good luck!