10 ways to help you do market research for home buyingAugust 12, 2019
A great decision on buying a home takes place when a whole lot of factors are taken into consideration and then the end conclusion leads you to choose the best one from the whole lot. It could be a tiring process but home buying being a major investment, it requires thorough market research before taking a final call. From determining the budget for your investment to the location, facilities and much more you have to take your time, dot the lines and decide. Below are some of the points that you need to consider while doing the research:
1. Check for the availability of social and civic facilities close to the property’s location such as schools, hospitals, shopping centers, public transport and place of work.
2. Enquire and observe by yourself the type of activities going on around the streets at different times of the day and night. Make sure that the location is safe and there are no property disputes or illegal occupation going on in your intended plot.
3. Find out the maintenance charges of your home and check if it includes charges for the elevator, water, electricity, payment of municipal and property taxes, and payment for cleaners and security.
4. Check if the total area of the property mentioned is carpet area or super saleable area. In some cases, the size of the apartment mentioned in brochures could include the space occupied by elevators, staircase and lobby area. Therefore, it is always better to ask for the exact carpet area inside your apartment walls.
5. Verify your builder and ensure that it has a decent track record regarding on-time delivery, construction quality, happy customers, and availability of appropriate licenses and approvals that safeguards you against any mishaps.
6. Check the car parking facility in the apartment, if it is included in the deal or whether you should make additional payment for it.
7. Enquire and visit as many properties as possible before taking a final call as you don’t want to spend your money on something that is not worth.
8. Turn to local experts if you wish to get information regarding the property and its location. This gives you a general idea of what they think is a property’s worth.
9. Get an idea of the local housing market with just a click. Browse through the property listings of that area to understand the estimates of neighboring houses. You can also find its typical price ranges.
10. Ensure the security of your property by determining the type of security measures taken in the apartment and also that of the neighborhood.
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