3 factors you need consider while buying resale home
While choosing resale homes there are few additional criteria one needs to know. A thorough inspection of the property has to be made before finalizing a deal. A large part of a resale home’s value lies in its physical condition. The rapid urbanization can contribute to hasty construction of which can lead to major mishaps in the later years, an example of which one can find in Delhi these days. Here are a few factors you need to evaluate before giving a nod to the seller.
1. Age of the building: Normally the life-span of a building is considered as 30 years, but the actual life relies solely on the raw materials used while construction, workmanship and the quality of constructions. Climatic conditions contribute a lot to the longevity of buildings.
2. Maintenance of the building: Maintenance is as important as the phase of construction. Poor maintenance may lead to early degeneration of the property. Watch out for Cracks, Leakages, Electrical systems, Plumbing and water supply systems.
3. Legal complications: Old buildings can also have legal issues linked to them. One needs to examine mainly the issues such as unsound titles, mortgages, charges, liens, tenants that refuse to vacate, etc. The property should be carefully scruti¬nized and the legal documents related to the house must be examined by a solic¬itor before any kind of deal is finalized on an old building