Which important point remembers before buying property?
Asked by
argone (
14)
October 13th, 2015
I want to buy a property in my local area, Jaipur, India. I have seen so many properties, but I am confused which one is good.So if you have idea which point remember before buying a property, please share with me
Thanks in Advance
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12 Answers
#1 first and foremost make sure you can afford it and know who your neighbors are and do they fit and support your values and goals for utilizing your property. Not knowing anything about India’s ownership laws….just pay attention to taxes…fees, any rights that the local government may reserve to encumber your property or assign levies for further developments. Then think ahead to if and when you may want to sell your property as to taxes and laws of ownership transfer.
I would go as far to go to the local government board and ask what if any plans for developments that will come down the pike years later.
Meet the neighbors, make sure they are not crazy. haha
I don’t know about India, but in America it depends on what the property is. Is it a home on a lot or a rural property? @Cruiser You beat me to it, the neighbor thing.
@Crusier offers some good advice.
In a practical sense; use the shortest form of your legal name on the very first document.
You will have to sign a hundred times & you will kick yourself for including middle/complete name.
Buy where you like, and can see yourself living in 30 years. It isn’t worth speculating on your very first property investment. Buy in a stable neighborhood. You won’t lose & you will build credit.
Location, location, location.
Where is the property and is that place at an advantage over other areas.
Call the local homeowners association and the local police to research the levels of crime in the area.
Location, Location, Location is only important if you are planning to re-sell for a profit in the future.
What makes you happy and fills your wish list is what is important for living in.
Don’t do it at all unless you plan to use it yourself.
1st is the location, is it accessible? is it near modes of transportations (bus, tram, railways). 2nd is if its near grocery stores or supermarkets. 3rd the community within the area.
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