Purchasing your home is one of the most expensive investments you’ll ever make in today's day and age. Even affordable property values make you think twice before investing. At present COVID-19 has given a massive blow to real estate. However, it also provided an opportunity for businesses to bring groundbreaking changes to their strategies. The real estate is now emerging out of the distress to recovery mode. So, here are the five things you should keep in mind while buying a property in 2020.
Plan your finances: It may be cliché but planning your finances before investing in a house will always be at the top of the list. Planning finances may be the most effective way to handle your purchases on expenses.
Research for the location: You can’t be too prepaid while purchasing
property. You should consider what’s important to you but also be aware of things that will help improve property value when its time to sell. Yes, folk’s a home in a comfortable location is the most important thing. Well, the comfortable location simply means that it should be at least close to school, hospital, a bus stop or a supermarket. In today’s world, not everyone can’t afford a good spacious house within city limits. Research is the key to land at a conventional and safe property in today’s time
Legal check of property: It is always advisable that you check whether there is any reservation on the land by the governing or any developer who may own the land. The title should be clear and free from encumbrances (lawful claims). Documents related to the property should be examined (for the period maximum of 30 yrs to12 yr ). Documents should be stamped and registered. Buyer must check the approvals before entering into an agreement or contracts.
Land-use conversion: Acres of agricultural land are now part of the urban limits and it’s important to make sure that agricultural land has been converted to residential use. Many states restrict the purchase of agricultural property. A buyer should therefore check the status of land being sold/ bought.
Buying what’s worth the cost: The worth of what you buy is what matters the most before signing any document, you must make a comparative study of similar properties in the area. You also need to calculate the percentage by which the property may appreciate in the future.
The buying experience is critical as the living experience and so it is an endeavour to make it world-class as well specific in nature. Property buying patterns have changed considerably post lockdown. People now seek to find a space where they can make the most of life without really wondering about what to buy or where to go?.
Rizvi Cedar and Rizvi Utopia are one such housing space, don’t forget to book your dream house at Rizvi Builders.