Usually, it takes you several months to discover that buying a property is an extremely complicated task. It is logical to want to have all the details under control; however, each day that passes you find new difficulties that you did not expect. In your life, it is the great task of future decision to buy a house. It is a very important decision that involves the family and a good part of your heritage. Many people have to concentrate on the important points to buy our property.
The first thing you should know is in what area you want to buy and what services and infrastructure you need available in it. It is very useful to make an evaluation about the distance between your future property and the school, the temple, the transport, the club, the supermarket, the hospital, to name a few institutions or services with which you interact daily. In the same way, you would have to determine the public services we expect: surveillance, quality of pavements and sidewalks, water supply, electricity, gas and many more useful resources. You have to make sure you have considered main daily activities: parking going up and down with children or with packages from the supermarket, circulating between the kitchen and the dining room, the bedrooms and the laundry. Analyze lighting levels and ventilation areas.
The process of buying a property in Hyderabad requires a series of steps to follow, and that can often be long and complicated. Follow the below steps to facilitate the task of buying a house.
Steps to Buying a House Easily
Before starting the difficult task of finding the house of your dreams is you must be clear about your requirements. Firstly define a series of priorities that housing should cover. A home is an expensive and long-term investment, so you should not search in a hurry and without looking to the future.
Some of the most important characteristics that you must take into account are:
The area and location of the home: You must think if you want to live in the centre of the city, in a residential neighbourhood, in the outskirts, near the children's school, close to work, and in a quiet urbanization.
The type of housing: You are looking for an independent house or a villa or apartment for sale in Hyderabad. Usually, the type of house is going to define the offer of the type that you are looking for.
The age of the home: Know if you want a completely new or second-hand home, assessing its status in case reforms have to be made or its distribution modified.
The characteristics of the home: Define the number of rooms and bathrooms you need if you must have parking, storage surface and distribution of housing, the quality of materials and other additional services such as air conditioning installation, swimming pool, etc.
It will be difficult to find a home that combines all your current and future needs, but you can establish some essential features that the house must have.
The Budget for the House
The price is surely the main factor that determines the purchase of a home. With the main characteristics like area, type of housing, bedrooms, etc. you must establish a budget for the purchase of the house. Therefore, you must be clear about the possibilities of access to financing that you have and know what annual expenses you can pay a community of neighbours, maintenance, insurance, etc.
It is about making numbers of how far you can get, being realistic with the characteristics of the home you are looking for, to avoid unnecessary risks and to be able to pay for the home comfortably, whether a mortgage is accessed or savings are used or money from the sale of another home.
The Search for Housing
When you already have clear what house you are looking for and the price that you would be willing to pay for it, begin its search. This phase of the purchasing process has probably become very easy with the Internet and new technologies in real estate. The real estate portals are exploring all facilities to make an easy buying process. You have the possibility of directly negotiating the price, although you must take a series of precautions to free yourselves from deception. It is essential to have patience and look without hassle until finding the house in Hyderabad that best suits your needs.
Compare Several Options
Find the real estate portals where you can compare different options of houses and select the best home that suits your requirements. Property Adviser is Indias first ever real estate property directory helping buyers to find the best home with the implementation of easy searching tools. Visit the website to find your dream home quickly.
Beware Of Presales
Make sure that the developer's name has prestige and seriousness. Investigate the property price, payment conditions, the delivery time, and if any additional cost is required for any service or amenity.
Return on Investments
Find the houses located in areas of high growth, in some occasions you can hunt an opportunity at low cost and remodel it, later this property will increase your surplus value, and you will obtain greater benefits. Real estate consultants can guide you to identify properties which will get good investment returns.
Visit the House
Before deciding on a property, it is essential to visit the home to know the detailed information. It is in this first visit when you must pay attention to many details and not get carried away by the rush. In this visit you will study if the distribution and characteristics fit with what you are looking for, paying attention to details such as possible damages, doors and windows, floors, walls and paint, neighbourhood, electrical installation, sanitary installations and plumbing, bathroom and kitchen taps, and outdoor environment.
You can ask the builder for a report of construction qualities, housing plans and facilities. If it is not possible, it would be advisable to have a professional who carries out a technical inspection that determines both the state of the home and all the legal aspects of it. Also, talk to the neighbours and take a walk around the neighbourhood to know the area. You will analyze the ease of parking, the proximity to services and recreation areas or the ease of making your usual journeys. In the first visit to the house that you like, you should not let yourselves be carried away by the illusion and the desire to buy a new home quickly. It is an important investment so you should not leave any detail to chance.
Make the Offer and Negotiate the Price Of Housing
Undoubtedly, the most complicated step as a buyer of a home. When you find the desired home, you have to know how to tie it by making an adequate offer. If you have the services of a real estate company, it will advise you if the house is at a realistic market price. If the offer is not absurdly low, even if it can be rejected, it can lead to the negotiation of the price of the home. In general, the more offer there is in the area, the easier to negotiate that you will have. If there is a high demand than supply, you will be the ones who must adjust to the existing offer without too much possibility of negotiating to the price of a home.
Procedures before Formalizing the Deposit Contract
You have already negotiated and closed the price of the home with the seller. But before formalizing the contract of sale, you must perform various steps and checks to avoid errors that include Request a simple note from the Land Registry to identify the legal owners of the property, and know reliably the surface of the house and existing charges: foreclosures, mortgages, preventive notes and others.
- Check that the home is up to date with its construction status.
- Know the minimum value of the deed.
- Know the expenses of the neighbourhood community, if any, and the services that are included in the community expenses hot water, gas, heating, garbage collection, cleaning, common areas, etc.
- Check if the property includes parking and storage, as an integral part of it, or as an independent property.
- Payment of housing and public notarial deed
Within the term agreed in the purchase above agreement, the act of public deed will be executed before a notary, necessary for the inscription in the registry of the property. You will make the payment of the home, and you will have several payment options that will be indicated in the purchase agreement:
Cash payment: in the same act of the notarial deed, you will pay using a certified check or through a transfer via Bank.
Mortgage loan: the most usual option, where the bank will send the documentation to the notary to prepare the deed, to which the agent of the banking entity will come to formalize the mortgage.
Finally, already being owners, you will have to settle a series of expenses and taxes that correspond to us as buyers: Mortgage expenses, which include the appraisal and the administrative expenses to formalize the opening of the same.
- Notary fees for the contract of sale and public deed
- Property Registration Costs
- VAT (Value Added Tax)
Having the possibility of seeing the house at different times of the day allows you to have a different perspective, not only of the interior of the house but also home surroundings. There are times when finding the ideal home too soon may indicate that it has not been compared enough.
Being able to visit several homes, with different characteristics, will help to specify the priorities but it takes lot of time. An exhaustive search will allow knowing the market and will provide greater security when making a decision. At PropertyAdviser.in you can find the detailed information of all the properties in Hyderabad at one place. Here you can find real-time construction photos with historical data. The team visits every area to update the projects every month with its price, available units, sold out units, construction status, and many more. This real-time up to date information helps you to make well-informed decisions.
To achieve all your dreams to acquire the best property in Hyderabad, you have the best adviser with all properties of Hyderabad information gathered. Log in to a www.propertyadviser.in real-estate professional website to view the best option. Reach your dream home and be as happy owners of property in Hyderabad.
By: Shailaja K