If you are going house shopping then below mentioned are 8 expert advice that you must keep in handy to make the right choice.
1. Analyse the market, choose the most favourable time to invest:
Real estate market is impacted by many controlled and uncontrolled factors that influence the price of a property. Government schemes or availability of housing loans on low-interest rates play a major role too. One must study the market closely and understand when the favourable time to invest is.
2. Choose the area and check your neighbourhood:
All of us dream of living in a safe neighbourhood, one should take some time and speak to residents of the area about their locality, amenities and security concerns if any. This will help them analyse the quality of lifestyle they can expect from buying a house in that very neighbourhood.
3. Check the prices and do a comparison:
Doing a comparative analysis between two or more areas will help you understand the pricing of the property and the reason behind them. Real estate prices in established areas in Chennai like Nungambakkam and Kilpauk are sky high when compared to newly developing areas such as Medavakkam. One must compare not just the prices but the amenities provided in each locality as well. A full analysis made on these grounds will give the buyer a better perspective.
4. Understand your needs and find a house accordingly:
Introspection of your needs and your budget is essential to save time and target the right kind of property.
5. Source your finances right:
Always source your finances right, be it a bank or your personal savings. You should be able to manage your finances effectively leaving no scope of over spending of your hard earned resources.
6. Hire a real estate agent:
A real estate agent is one stop solution for all your home buying queries and concerns. They provide you with an array of options to choose from while dealing with sellers on your behalf. They are certified and qualified to give you best solutions in your budget. A reliable and professional help can always be a boon to every home buyer.
7. Be realistic:
Always be realistic about the offer you have made and the expected results. Sometimes you may make an offer that supersedes the expectation of the seller or sometimes you may just not be able to settle down with the right price. A comparative check with the prices of other houses in the same locality will give you insight on what to expect.
8. Home improvement for pre-owned houses:
If you are trying to buy a pre-owned property you have to analyse the cost of home improvement before making the final call. Sometimes it’s more than what meets the eye. Call in experts to check the quality of the house before making the investment.
The above-mentioned tips will act as a checklist for anyone who is buying a house for the first time. One has to ensure that all the criteria are well researched and full filled before you invest in your new residential paradise.