Want to Buy Real Estate? Must Read!

Whether you are willing to buy a residential or commercial property, you need to be very cautious because it’s probably one of the biggest investments you do in your lifetime. Investing in real estate means you’ll be putting a huge portion of your hard earned money into it, so you need to consider some factors before finalizing the property you want to buy.

You should buy properties that enhance your quality of living along with fulfilling your home-ownership dreams. To make sure that you invest your money in the right property, here are some factors that you need to consider:

1. Find a Registered Real Estate Developer

This is the most important factor while choosing a real estate property. There are many instances where buyers have invested in real estate properties that have never materialized. Many people who invested in properties almost five years back still did not get possession of their properties.

So if you want to invest safely, you should always look for registered real estate developers who work according to a certain code of conduct.

2. Work with Reputed Builders

This is another important aspect when looking for top real estate companies. Always carry out background checks of the real estate developer you are willing to work with. Refrain from working with developers who have been involved in various legal issues.

3. Location

Location of a property, whether commercial or residential, is very important. Make sure that the property is located close to hospitals, schools, work area and such other conveniences. If you are willing to buy commercial property, make sure it is located close to the main transportation points.

4. Check the Exact Carpet Area, Amenities and Facilities Offered

Most of the real estate developers would quote prices based on the total area of an apartment, but you should insist on paying the price depending upon the exact carpet area. Apart from the carpet area, you should consider the amenities and facilities offered. Check whether there are 24 hour water and electric supply, ample parking space, generator backup, etc.

5. Registration Fees

Apart from the actual price of the property, you will also have to pay registration fees, which depends on the value of the property. So, the amount of the registration fees and related expenses should also be considered.

A Final Thought

Buying property is one of the biggest investments in one’s life, so you should be extra cautious so that you don’t get conned. Always work with top real estate companies who are registered with some real estate organization or the government. The right decision will bring back a lot of benefits while a small mistake can make you repent for the entire lifetime.

References:

http://realestateinyourtwenties.com/blog/seven-must-read-books-for-real-estate-investors/
http://www.jagoinvestor.com/2010/08/tips-while-buying-house-real-life-experiences.html
http://www.businesstoday.in/cover-story/tips-to-buy-a-shop-retail-space-property/story/197994.html
http://www.globalpropertyguide.com/Asia/India/Buying-Guide