Whether you buy a new house as an investment property, utility, or security, careful thought, consideration, and research about the house should be put in place before making the purchase. When purchasing the house, many commit first home buyers mistakes like not researching the property well. As a buyer, you should also be mindful of not making a hasty decision when buying the property. Put in the time to know about the property and also put in place a well-planned out process before making the purchase. Let’s cover mistakes to avoid by applicants before buying a new house.
We will discuss five of the common mistakes that you should avoid when buying a house.
1. Not Going Through Builder’s Credentials
Even if it is an investment property and you will not stay there, selecting a reputed developer is a must. A well-reputed developer like the ones listed at Majheghar.com will warrant good quality construction with adequate facilities and good amenities. A well-known builder will keep the buyer’s requirement at the top of the criteria when designing the building that would suit the dynamic needs of the buyers. A builder with a good reputation will also warrant the project is finished within the given timeline, so the property is delivered to you on time with proper documentation.
2. Failure To Find The Right Location
When buying a house, do not get stuck with finding the right price. While keeping the property within your budget is important, buying a house at the right location is essential too. So often, we get tempted by lower prices and overlook the location. So, if you are purchasing a property for utility, consider 3 BHK flats for sale in NIBM, Pune. Like one in this place, the house is located in an area that offers the basic facilities for every day.
3. Not Knowing How Debt Works
Often you might get tempted to return the loan early. This means your EMIs will be higher, and the chances of you becoming a defaulter increase. So, when you make the down payment and get your loan paper sanctioned, never opt for a short-term loan. A new investor might try to offer higher loan debt that can result in a larger payment. You should instead ideally oft for a larger down payment with a lower interest rate.
4. Not Taking An Expert Advice
We know DIYs are the trend these days, but it would be a mistake not to take a professional’s advice when buying a property. A well-known real estate agent like Majheghar.com can help you broaden your search and find multiple listings within your budget and properties that reputed builders make. An expert real estate agent Pune will also help you to get the best deal and guide you through the lengthy documentation process.
5. Ignoring The Inspection
Before you make the final payment for the house you are buying, you must get the house inspected by someone you can depend on and who is unbiased. An inspector will check the mechanical system, structure, and construction of the house and identify the faults before you make the final purchase. Then, if required, you can get small issues fixed before finalizing the agreement.
Whether you buy 2 BHK flats in Kharadi or anywhere else in Pune, always make sure that you avoid these five mistakes when making the purchase.