The changing of the government and current market situation has resulted in a very lucrative real estate investment field. Whether you are looking for a property in Lucknow Shaheed Path or in Mumbai, here are some essential questions that we forget to ask while transitioning to the position of a home owner.
Renting Vs Buying
Although you may have already mentally moved into your dream home with the perfect bed and lighting, you need to weight all your options first. Depending on the diverse situation of an individual, you need to figure out if renting the flat or buying it is a better choice. When you understand your financial situation completely, you can make a well informed decision.
The Neighbourhood Crime Rate
This undervalued question can have a simple answer, but only if you ask. You cannot risk anything today.
The Needs and Wants
Make a list of all the things you want and need in your home. Figure out what you are willing to compromise with as it is almost never possible to find the perfect home.
The Seller’s Disclosure
Considering the fact that you will be spending a large amount of money and time on your house, make sure you have the disclosure to go through and avoid any last minute surprises.
The Allows and Avoids
From local regulations to housing rules, make sure you have a clear picture on what you can and cannot do to the home. You do not want to begin a renovation project only to realise you needed government permission.
Make sure you have the home thoroughly inspected. You do not want to move in to find faulty pipes or rodent problems.
The Reason for Sale
Although it is unlikely for there to be a ghost living in the building, asking such questions often can get you valuable answers.
The Safety Features
From emergency escape routes to smoke detectors and such additions, make sure you have a clear idea on the infrastructure available at your disposal. After all, it is also your home.
A factor people often forget to calculate is the facilities available nearby as well. From having a grocery store to emergency supplies, such questions may seem silly but can save your life some day.
Make sure you have a committee or some regulatory body set up in the society so that such needs can be taken care of.
Although these are small points, when focusing on the larger picture we tend to ignore them. Make sure you make the most out of your new home.