Investment Vs End-Use of Property: How Your Searches Should Vary
What should you look for in a home depends a lot on the purpose for which you may be buying it, investment or end-usage.
Here is what to look for while buying a home for end use:
Is it ready for possession?
While buying a home for staying purposes, you need to check if the home is ready with all the necessary amenities. You should check if all the facilities, neighbourhood, utilities are available according to the agreement with the seller.
Is the property constructed well?
This question is the most crucial of them all. If the quality of raw material used for construction is not good, it may a cause major problems in the long run.
Also, you should always search for ready-to-move-in properties to narrow down your search while you opt to buy a property for living purposes. This will not only ease up the process, but it will also make it more effective.
Here is what you should look for while buying a home for investment purposes:
What will be the delivery date?
As a home buyer you would be incurring double loss, if there is a delay in completion of a project. There have been cases where the developer does not finish the project in a stipulated time because of cash crunch, increase in the cost of raw materials and interest rates. Also, if you want to buy the house for renting purpose, you may incur a loss of rent.
Will the property give better returns?
When buying a property for investment purposes, the first thing you should check is if the property can give you a good return on investments in the long run.
Does the property have the features you require?
You should check if they can provide the features depending upon your requirement such as renting.
What will be the EMI process?
You should ensure that the paying process is designed in a way that suits you.