It is said by elders that you build or a buy a house once in a life only. Hence buying the right house is a very big decision of your life.
Most important factors that you should keep in mind are:
01. Selection of Town/city. Are you buying a house in the right city or town? It has to be considered from:
- Your future job-business-perspective
- Investment point of view
- Your roots or native place
02. Selection of locality in the town
03. Your needs with respect to your family size
04. Your budget and your financial capacities.
Courtesy - 123rf
- Name of the scheme.
- Whether the area gets flooded during monsoon?
- Is it near railways line?
- Is there sound pollution due to noise from traffic vehicles?
- Is there any pollution due to industries in vicinity?
- Is the locality in riot sensitive area?
- Type and class of people staying in vicinity.
Social infrastructure available
Social amenities that should be near to your house, check while buying.
|Secondary school||Shopping center|
|Garden||Children play ground|
|Good nursing home / Medical practitioner||Maternity home|
|Good hospital with all amenities||Bus Stop|
|Place of service / business||Availability of domestic help servants|
|Police station||Fire station|
|Hair cutting saloon||Availability of Milk, newspapers etc.|
- Name, status and standing of the builder.
- Performance of the builder of last few scheme completed by him. You may seek opinion from his buyers. (as per the New Real Estate Bill now you will be able to check builder’s profile for last five years on Regulator’s Website)
- Whether the builder/developer is an engineer or has employed adequate engineering staff, architects and structural engineer.
- Total cost of house.
- Sources of fund: Savings, Loan, Temporary Borrowings, etc…
- Loan if required and arrangement for gap after availing loan
- Time of possession
- The area of the house including number of bed rooms and number of bed rooms with attached toilet.
- Arrangement for 24 x 7 water supply
- Disposal of sewerage whether it is to centralised Municipal sewerage or scheme’s own STP or Septic tank or Soak pit.
- Availability of 24 x 7electricity.
- Number of storey on which you are buying a flat.