One of the most basic necessities in the life of common people today is buying their dream home. People do work hard and save a part of their income so that they can buy a home for their family. But what is the biggest mistake that they make while buying a property? The mistake that they commit is that they don’t do market research about the prices of the property which are going in the market nor they put any kind of little effort to find out whether the property is legal and the real estate builder has the genuine license or not. This comes back as a major problem when they keep trying to sell their house says Dean Kirkland WA, a real estate developer.
So before buying any property in any place you must ask some of the following question so that you can get a clear idea and proper knowledge whether you are investing in the right place and at the right time or you not.
APPROVAL AND LICENCES OF THE BUILDERS: – When you have decided to buy a property you need to check the builder’s paperwork. You must see whether the land belongs to the builder or he has just the right for the development of the property. Take the help from your legal advisor to get the agreement examined.
SIZE OF YOUR PROPERTY:- One of the smart strategy that the builders are using these days are that they generally mention super built up area in short and printed documents in a booklet. People should know that the super built area of the flat is different from the carpet area. The super built area includes common areas such as stair cases of the building, lifts, lobby, etc. The carpet area of the flat can be less than 20% to 30% that of the super built area.
THE PLAN OF PAYMENT: – There are different payment methods that are available, according to Dean Kirkland WA, in the market such as, flexi plan payment, down payment plan, possession plan payment, construction linked plan, easy monthly installments and many more. The people must choose the correct plan of payment and they must also understand that any kind of late payment or default payment will have a negative impact on the builders.
UNDERSTAND YOUR REEQUIREMENT:-I f you are planning to buy a home or a plot then you must first understand your requirement and the needs. Make it a point to check how much land or the built up area you will need to build your dream home.
CHECK THE SITE: The area which is mentioned in the in the booklet or brochure could be different from what is real. So, you must do a site visit before booking the property and after that also u must keep visiting the site so that you can see that the work is in progress. A smart planning is that you must also interact with people in the neighborhood who are living at the place from many years and they may know about any illegal occupation or any other kind of legal disputes that is related to the property.
VERIFY THE BUILDER: The piece of land or the plot that you are planning to buy may be under any kind of legal issues or legal disputes or litigation. Hence, it is highly suggested that you must do full verification of the builder before making any payment. You could easily verify the builders by its past or current projects.