Buying a house or apartment in India especially if it is for the first time is a major milestone in one’s journey and comes with a lot of considerations. And even if you are a seasoned investor in real estate there are many doubts or apprehensions regarding a new investment and a whole checklist of things to consider before buying a house. So, let us see which are the top 10 from this list.

Things to Know Before Buying a House

Location is everything

Perhaps the most important factor to consider is the location of your home when buying. Proximity to schools, hospitals, shopping centers, groceries, essentials, public transport, airport, colleges, important connecting highways, main roads, etc. make a huge difference in property appreciation, convenience and quality of life. Another important thing to consider in location is the neighbourhood’s safety level, civic amenities, future development plans for infrastructure and overall look and feel. A well chosen location resonates a high quality lifestyle and increases property’s value over time.

Must Read: Prime Locations for First-Time Home Buyers in Pune

Budget and Financing Option

Establishing a clear and calculated budget is imperative before buying a house. It is not only important to consider the buying price but one also needs to factor in all the associated costs such as maintenance, sinking fund, stamp duty, interiors or renovation expenses and others if any. One needs to look for all the financing options such as home loans, compare the interest rates, tenure and repayment plans. Then, finalize the plan that best suits your situation along with accommodating fluctuations in income and expenses.

Builder or Developers Reputation

The name and reviews of the builder whom we are finalizing the purchase from is crucial. So research their past track record, customer reviews, past projects and their timelines. A reputable builder will likely deliver projects on time and maintain high quality construction too. Check if the builder or developer group is registered with the Real Estate Regulatory Authority (RERA) and is facing any legal issues.

Legal Verification

Legal verification of projects you may be interested in buying is essential to ensure a smooth buying process and avoid any hassles in the future. Verify the property’s title deed to confirm the ownership and whether there are any litigations on the same. Ensure the property has all legal permissions necessary from the local authorities such as land use, plan and environmental clearances. Consult a legal expert if needed to check the property documents and anything you have to sign. 

RERA Compliance

As mentioned above, ensure the developer and the property in question is registered under RERA. The Real Estate Regulation and Development Act (RERA) has come into effect since 2019 to protect homebuyer’s interest and increase transparency in real estate. This compliance is one of the most important things to look for when buying a house in India. The RERA registration provides you all the information of the property such as timeline, completion date, litigations if any, project’s specifications, no. of units in it, units sold, units remaining, builder’s track record, etc. It is also an official platform to address grievances and resolve disputes.

Project Specifications and Amenities

Have a good and detailed look at the project specifications and amenities offered. This includes the construction, building material used, tiling, layout of the house, carpet area, common areas, amenities for fitness, leisure and more. Check the civic amenities such as water supply, cooking gas supply, rain water harvesting, sewage, electricity, security, parking and waste management. 

Amenities like gym, swimming pool, jogging track, multipurpose courts and more can significantly enhance lifestyle especially if they are things you are looking for before you buy a home as an end user.  

Resale Value

It is good to see the potential for appreciation or probable resale value in the long run for the property you intend to buy. The factors that influence its value are the builder’s reputation, construction quality, location and available amenities. Properties located in well developed areas with good infrastructure and amenities increase in value over time. This understanding can help you make a sound financial decision.

Must Read: 5 Factors That Affect Home Value

Hidden Costs

Be aware of hidden costs before finalizing any property. This is an important feature to consider before buying a house as it includes the maintenance costs, parking fees, utility connections, property taxes, floor rise charge etc. Clarify all such costs upfront and read the sales document/ agreement carefully.

Home Inspection

Conduct a thorough home inspection before purchasing if it is a “ready to move in” property. Check for the structural integrity, quality of the fittings, fixtures, electrical and plumbing systems and overall condition of the property. Look for signs of damage, dampness, mold, cracks, need for repairs and such. Identifying these things before you buy a home can save you a lot of expense and trouble of repairs later on.

Properties by Avani Housing

Top builder in Pune and a renowned name in real estate – Avani housing have properties in Pune that are high in quality, standard of living and preference. They build lifespaces that are nurturing and a haven of joy and community living backed by their four decades of experience. Their ongoing projects include 12th Avenue, offering 2 BHK homes in Aundh Ravet Road, Tathwade, Avani Aavas and Avani Nivas, offering 1 & 2 BHK homes Charholi Budruk, Pune.

Buying a home is surely a big decision and not something one takes lightly. So ensure to checklist the above things to know before you buy a house in India. Hope your home buying journey is a fruitful one!