A house has got an emotional attachment associated with it. So, plan it carefully and wisely.
Procedure to plan buying a housing property
In general, house is the single biggest investment in anyone's life. So, plan carefully before investing in it.
- Do enough research before buying a housing property.
- Enquire about the location and future prospects of the property.
- Transportation: Look for nearest public transportation like bus station, Metro connectivity etc. as applicable to your city
- Future potential for appreciation.
- Safety & Security of the neighborhood or locality
- Visit the nearest police station to find out the crime rate in the locality where the property is situated.
- Work out the home financing
Verify the Paperwork:
- Hire an experienced advocate practicing Indian Property Law and show him all the paper work obtained from the seller or builder or agent.
- Property Laws are quite different for each state in the country. So, try to hire an advocate practicing in that city where property is located.
- Make sure you got all the paper work and verify its encumbrances - if it is mortgaged to any bank or financial institutions etc.