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Five Things to Check While Buying a New Home

Posted by Royal Sundaram on 03 Aug 2016

Checklist-While-Buying-a-New-Home

Buying a new house is a big leap in a person’s life. It takes years of preparation for a person to reach this stage of life. For most people buying a home is the biggest investment of their lives. It is a massive decision, so you need to take each step with caution. Before you experience the joys of homeownership, there are many things that you need to consider in order to avoid unnecessary troubles later. Here a list of five things that you need to consider before you write that cheque:-

  • Reputation of the builder: – Before you finalise on a particular house, take a look at the overall profile of the builder. This is particularly important as many people have been tricked by fraud builders. To ensure that you are buying a home from a trusted builder, visit the websites and go through the ongoing and previous projects of the builder. You could even search the internet for reviews about the particular real estate company or builder.
  • Connectivity to workplace: – the distance between your workplace and your home is an extremely important parameter. Extremely long distances from your workplace would mean high commuting costs and wastage of your precious time.
  • Amenities: – Most of the builders offer several amenities along with the property. Facilities such as swimming pools, club house, and gyms are considered as amenities. Even if you are a simple person who doesn’t need fancy swimming pools, these amenities will enhance the resale value of the property in the future. Apart from the building amenities, do not forget the check the local amenities such as schools, markets, banks, shopping places and train/bus stations.
  • Locality: – Home is a place where one needs to feel safe. Check the locality and the type of people that live around the area. Does the area feel safe? Will you and your family be able to commute to the place late? These are some important questions you need to ask yourself while checking the locality of the place.
  • Resale potential: -You may think that considering the resale potential before even buying the house is not essential at the buying stage. The fact is, you never know for how long you will be staying in that house. You might have to move out someday to a different location for various reasons. At that time, you will have to sell the place and move. A place with good resale value will always fetch you good price.

To secure your home from any kind of unexpected perils and calamities, a home insurance policy is recommended. It offers financial safeguard to pay for the cost of structural damages your house suffers from after unfortunate events.

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