IMPORTANT FACTORS YOU SHOULD CONSIDER WHEN BUYING A PROPERTY

Finance

Purchasing your dream house is one of the biggest accomplishments of your life as it involves a huge financial investment. Whether you want to buy a house with basic amenities or you are looking for a fully-loaded penthouse, you need to consider various factors before signing up. Since this process is complex and involves a lot of your time, take the time to create a checklist.

To get you started on the path of buying the perfect property, take these 4 important factors into consideration.

  • Location and neighbourhood of the property

The first thing to consider when buying a property is its location. Choose a location that not only allows easy access to your workplace, but is also well-connected to the nearby schools and malls. Ensure it has good public transportation connectivity. Buying a house in a feasible location will allow you to travel comfortably, not allowing the day-to-day commute to become a burden on your schedule.

Once you freeze on a location based on these conveniences, also look for a good neighbourhood. Having your house in a friendly neighbourhood will prove advantageous for you in the long-run. Safe and secured areas always act as a blessing in disguise as they bring you closer to top-notch civic and social amenities, and shield you from the harm’s way.

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  • Amenities offered by the property

While you may see glossy brochures with a list of luxurious amenities on offer, you may not actually see this represented in reality. So, before finalising a property, find out what amenities they have in store for you and when they will be completed. If you have always wanted a swimming pool or a modern gym within your premises, choose a project that satisfies your ask. The basic amenities that you can look for in your dream project are a clubhouse, parks, a swimming pool, a gym, an indoor game area, an outdoor sports courts and places of worship.

  • Age and space of the property

If you are willing to purchase a second-hand property, consider its age before buying it. This is because older homes may require repairs and upgrades, which is likely to affect your total budget. Along with this calculation gauge its resale value. Understand that value-appreciation for older buildings with deteriorating conditions are always less as compared to the ones with an impeccable condition and located in a good society. However, if you consider buying a first-hand property, consider other factors like its vacancy status, legal conditions, and adherence to RERA.

  • Documentation of the property

Whether you want to buy an individual house or an apartment, property documents play a very crucial role. Without submitting the required documents, you cannot avail a home loan for the property. Moreover, without the necessary monetary and legal papers you will not be able to register the property in your name. Some of the important documents for registration include property sale deed, Khata certificate, Khata extract, power of attorney papers, recent house tax receipts for the property, and project completion certificate.

Take all these important factors into consideration when buying a house to safeguard your investment. For example, if you are looking for an individual house for sale in Bangalore, go through these 4 factors one by one and then narrow down your search to Assetz 63 Degree East located on Sarjapur Road or Sumo Sonnet located in Hosapalaya.

Once you have selected the property, you can buy it with the help of home loans from Bajaj Housing Finance Limited. To finance your investment easily, you can avail a home loan of up to Rs.3.5 crore. Also, you can enjoy additional benefits like property search assistance, in-person help for site visit, minimal documentation and easy repayment options. To avail a customised deal for your home loan, you can check your pre-approved offer before applying.

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