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5 Things to Consider Before Buying a House

Buying your first house is the big decision. You may have finally decided to buy a house, but are you aware of all the factors to consider before buying a house from Top real estate developers? Finding the house in an affordable area is what considered first by the first time home buyers especially. But there also some other factors to consider. Here are the five factors you should consider before buying a house.

Location

The affordable land prices should not be the only thing for you to choose a location. There are other important things to consider a location, where you will start your new life. Carefully inspect the location to be sure that is fulfils all your expectations to match your lifestyle. Look at the infrastructural development in that area, social life, connecting modes of transportation, access to basic urban facilities, schools and markets in and around the area etc. Finally consider the resale value of property in that particular location as the deciding factor for better monetary profits in future.

RERA

After you have finalised the location, it’s time to look for RERA authenticated projects. Under RERA, the under construction projects receive the RERA registration number. You can view such projects, building plans and other details on the RERA website. A RERA seal indicates that the developer has agreed with all the norms and conventions and is trustable.

Land Use

You should also ensure the use of land is residential and not an agricultural land for your peace of mind and to avoid any conflicts later on. To do so, get in contact with the revenue department under which the land of the property falls. Validate the transfer of land use from agriculture to residential with the development authority.

Floor-Area-Ratio

FAR is regularly an issue of worry for the purchasers, as it enables the engineer to roll out extra improvements to the present building design without being subject to advice the current purchasers. FAR can trade off the Green region of the general public, which is frequently appeared as a USP.

Timing

Timing is everything, particularly with regards to purchasing a house. On the off chance that you purchase at the highest point of the market you could find that your home loses a considerable measure of significant worth when the market falls. That could imply that you all of a sudden owe more than your home is worth, and would experience serious difficulties offering it on the off chance that you required or needed to move.

Purchasing when the market is low is a superior decision, in light of the fact that your home will pick up esteem and value as the market makes strides. At that point you can offer it later for more than you paid, in the event that you conclude that it’s an ideal opportunity to move elsewhere.

So, if you are ready to make the big move, be sure keep these factors in your checklist when buying a new house!





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