Buying a home is a beautiful experience because every other person, be it from any stratum of the society a new and own home is always a dream. But buying a new home means you are to give away your savings to take hold of it. When it is there is the question of your hard earned money then it is important to ask yourself certain questions before getting a home.
1. What is the worth of the property in the present market?
This question might not be that much beneficial for those people who have earned money just to buy a home any kind. But this is an important question for those people who have other property but want a particular one. Make sure that you know the value of the house you are buying. See whether the value of the property will rise in the future or make sure you at least check the locality to find out whether there are any chances of increase of value prospects.
2. Is the seller flexible with the price?
Not all sellers are flexible in bargaining with the price of the property. Don’t ask the seller directly on lowering the price rather you can give away certain hints on bargaining. You can directly ask the agent of the seller whether the price is bargain-able or not. Make sure you take in to consideration other property prices before settling with one. Some sellers might just reject the offer if you ask for bargaining options.
3. Is there anything wrong with the property?
If you are a vigilant buyer then this question is very important to ask before you are buying. There are many sellers who avoid certain down points about the house to sell it off. You can go for home investigating companies to check the house for any latent defect before buying it.
4. Does the property come in the flood plain?
Make sure you enquire whether the property is in a flood plain or not. The property which is in a flood plain requires flood insurance which in turn increases the price of the property. Check with the competent flood authority of the area that has the certain maps of flood plain areas. Based on this you can decide whether to the particular property or not.
5. Is the society or the locality of the property safe?
This is a very important question that an individual should ask if he or she is there to stay with their family. A safe locality assures that the children are safe and secured.
6. Does bank give away loan in that area?
This is not a common phenomenon but there are properties on which the banks aren’t always ready to provide loans to buy the property. Make sure you talk with you respective bank and then decide on buying the property from the particular area.
7. Is the paperwork of the previous seller up to date?
Investigate the paperwork of the previous customer carefully before settling for a particular property. There have been various cases of property frauds in the past years, where fraudulent paperwork landed the individual behind the bars.