9 Things to Consider While Buying a House

Buying a house is an aspirational dream for many—a permanent home to live in, that you can call your own. But before buying a house, there are many factors that go into consideration that are important to understand. While the most important parameters tend to be price, location, and possession of the property, here are some other factors to keep in mind while purchasing a property:

1. Price

From the outset, it’s important to fix a budget for your home. Take a good look at your current finances (and future financial possibilities as well) to make sure that the home you are looking at is within your budget both today and tomorrow. This budgeting makes it easier to shortlist homes and builders that are within your range.

2. Builder

The property market is saturated with builders that may make tall claims. But when you’re looking at properties, make sure you’re only looking at builders you trust, whose claims are reputable, and who have a reputation for good construction and on-time delivery. Do they have a record of defaulting on possession dates? Is there a history of improper construction? If yes, be very careful while buying property from such builders.

3. Location

Where your new house will be located is an integral factor to take into account while buying it. Location is one of the most crucial aspects of whether or not a property is appealing—its distance from public transport and workplaces, good schools, shopping centres, and other essential services is important to take into account. Make sure each aspect of the property’s location is accounted for when you are considering buying it.

4. Legal check of property

Before buying a property, make sure to do a thorough legal check with the builder of the land that it stands on. If the land is considered disputed, there may be problems with construction and possession in the future, so ensure that the developer has taken approvals and NOCs from the appropriate authorities. This includes the city’s municipal corporation, area development authorities, water and electricity boards, and others.

5. Possession

With several projects in the pipeline, developers may mention a possession date for your new home but may not be able to deliver on it according to the timeline. Therefore, it’s absolutely crucial to make sure that the timeline for your builder’s project completion is straightforward and clearly articulated to you beforehand, to avoid confusion and frustration. Along with this, plan your move and lease negotiations accordingly.

6. RERA registration of property

Make sure that your builder and/or developer has registered the property under the Real Estate (Regulation and Development) Act (RERA). This protects your interests as the home buyer and ensures that there is a more equitable and fair transaction between the seller and the buyer of the property. Lansum properties ensure that each of its real estate projects is registered under RERA with their respective RERA registration number.

7. Size of the property

How big is the property that you are looking at? When considering a house, ensure that the sq. ft. size of the property is big enough for your needs, both current and future. If you are married and considering having children, will the house be big enough to accommodate them? If you have aging parents, will your house be able to accommodate them in the future? Based on these considerations, ensure that the size of the property is adequate.

8. Clear title deed

Before buying the property, do a thorough legal check to ensure that the property deed is free of legal hassles that may trouble you in the future. This will result in fewer complications for you and the builder going forward.

9. Construction quality

A reputable developer must have good construction quality, whose work stands up to any disaster that may befall it. So, make sure that the house you’re buying is constructed in a sound manner by having a structural engineer analyse it properly.

When you buy a house with Lansum Properties, it’s not just an investment—you buy a home and become part of a community of like-minded homeowners. If you’re looking for properties located in the heart of Hyderabad, Lansum El Dorado is the project for you. Located near the Financial District at the intersection of luxury and convenience, a home in El Dorado comes with lush greenery, design innovation, and the highest standard of construction. Contact us now to get a quote today.

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9 Things to Consider While Buying a House

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