Buying Property In Aurangabad? Go Through This Checklist Before You Actually Buy

Investing in a new property can be a hassle with a lot of things that could go wrong. However, this simple checklist will ensure that you get the best out of your property investment.

For millions of Indian families owning a house they can call their own is a dream. Having an ownership of a shop or a commercial space to start an enterprise gives a different joy. To help you find the perfect investment, listed below are a few points that you need to keep in mind as you hunt for property, so that you can make a sound investment:

Are the amenities for real?

Every buyer gets carried away by the various features of the property and the adverts that have families saying how much they love that particular residential complex and its many facilities. However, if you want your investment to make sense, ensure that the amenities that are promised are actually there. If the brochure says that the school is just 10 minutes away, check and time it yourself. If a fully functional gym with free membership is promised, see if there are any loopholes. Unless you are alert you cannot blame anyone else for a bad deal.

Do you know the relative prices of the property?

Whether it is a 2BHK house that you are looking for in a posh locality or a 10000 sq.ft. commercial space on the outskirts of the city, you need to know the prices of similar property in similar locations so that you know the current price trends. Unnecessarily handing over more money than required is not required. When you know the tentative prices for say, a property in Aurangabad in a posh locality, you can negotiate the prices better with the builder.

Have you checked the neighbourhood?

If you are buying a house and intend to live in it for the next few decades, you obviously want it to be in a good neighbourhood. Having a school nearby will be your priority if you are planning to have a child soon. Check whether there are any recreational facilities and health facilities nearby, if you are looking for a retirement home. You may want to speak to a few long-term residents of the neighbourhood, where you intend to buy a flat, for their feedback.

Is the property under any legal dispute?

You may have found the best property at the best location for the best price, but it may cost you in the long run if it is under any litigation. Court proceedings can take years to resolve which means that you spend all this time under unnecessary stress. Unless you believe you can handle such stress, don’t invest in such property. Ask the owner and some reliable sources in the neighbourhood if the concerned property is entangled in any such legalities.

Does it have the required permissions?

Does the property stand on the land designated as ‘buildable’ by the government? If not, there are high chances that it will be pulled down sooner or later, taking down your dreams with it. Verify the sanctions and permissions from the government with the builder by checking the appropriate documents.

All said and done, be confident when you buy that property of your dreams!