Monday, January 19, 2009

Points to Remember While Buying a Pre-Owned House

Be it a new house or a pre-owned house one need to be careful and vigilant before finalizing a deal. Pre-owned houses have negotiable and wide range of price options to choose from. They have established infrastructure facilities - physical and social. Plus, they are ready-to-move-in homes, complete with basic furnishing. One can opt for a pre-owned home on the basis of individual and family requirement and the budget.

Money, location, appreciation, transport and connectivity, accessibility, cash in hand and mortgage options are all important factors of the process. Pre-owned houses are generally ideal for people who have an immediate requirement of a home to reside in.

Beside location and neighborhood, it is important to consider architectural design when buying a pre-owned home. Take into account the quality of construction of the property. Read the floor plan and assess the quality of paint, furnishing, fixtures and material of walls, ceiling and flooring used in the house. Parking facility is the other key area needs to be checked on before buying a house.

Always choose a house which not only suits your pocket but also that holds value in the long run and has a good value-appreciation rate.

One of the most important points is drainage. It doesn't seem so important but can define the value and livability of a house. Do make sure that the house and the locality has a proper and well-maintained drainage system. This ensures no water logging during monsoon.

Apart from these don't forget to keep a check of all the documents that you need while buying for example registry, transfer deeds, power of attorney etc. Make sure that there are no pending bills of the house and all installments and dues are paid on time. Also do some inquiry regarding the history of house, all this is extremely important and ensures a wise investment.

George Gonigal provides you the best and latest info on Indian Real Estate and India Property. He would also let you know where to Rent Flats in India.