A Beginner's guide for a home buyer

Purchasing the first property comes as one of the calculated investment decisions in a buyer’s life, involving a sizable chunk of a buyer’s savings as well as a tedious process of identifying the most relevant promising property.

If you have finally made up your mind to transit from being a tenant to becoming a proud homeowner, then here are some useful tips which you should consider before pouring your hard earned money in your first property investment.

To begin with, conduct a thorough research on the localities where you would like to purchase your residence. Also consider a head to head comparison of different deals to pick the most suitable property option, meeting your budget requirements. It is also important to remember that while consulting a real estate agent or broker may ease the process of gaining the market rate, sales in the area, price appreciation etc., they should not be blindly trusted.

Also it is viable to examine numerous property investment options to broaden your chances of

purchasing a property with a potential for high returns. Another important aspect which comes into the picture while buying your first flat is the social and civic infrastructure of the locality. A property unit with social facilities including schools, hospitals, shopping centres, parks, gymnasiums etc certainly have a higher chance of price appreciation and can help you live a comfortable life.

Figuring out the age of the property also comes as an important aspect of the purchase process as properties after a certain duration demand maintenance and in many cases require replacements of amenities.

Ensuring that all proper security measures are in place and functioning is also critical as no buyer wants to witness the nightmare of a security intrusion.

Ventilation and car parking

It is important to ensure that your property unit has sufficient access to sunlight and ventilation with proper balconies in place as no one wants to own a property which is obstructed with other buildings or is poorly ventilated.

Inquiring about the necessity and pricing of the maintenance charges involved with the unit will help you gain a clear picture of the actual pricing of property. Also do inquire about what is

included in the maintenance.

With the soaring scarcity of parking spaces in the major urban centers of the country, it is important to extensively inquire about parking facilities associated with the property. Since in many cases, parking slots incur additional costs, talking to the society members will fetch you a clear understanding of the parking related scenario in the locality.