Things to keep in mind while buying a second hand house

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Post on 28-Jul-2015

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1. Few Points That Must Be Considered While Buying a Used / Second Hand House India is the growing real estate hub in Asia continent. The first dream of each and every person is to have at least their one dream home. But the prizes of homes have gone too high, so that it is not possible for the common man to purchase a new home, not even a 1BHK or 2 BHK. In such situation, most of the peoples prefer to buy an old, renovated or pre-owned home. It is not like that the second hand or used houses are not good to for investment. If you follow some experts guidelines, then your home can be better than a new one. Research of area: Before purchasing any second hand home, start with the research area where you are buying a second pre-owned house. This includes several important factors like nearby schools, colleges, education facilities, transit facilities, traffic situation, hospital and medical facilities, places of worship, and so on. To get more information about all those points just spend a few minutes with the residents. They will give you the accurate information within few minutes. After that, just do some analysis of market rates in that area. After that you will come to know that what exactly the payable amount in that particular area. Legal factors and formalities: During the purchase of any home we have to go through this tedious and time consuming process of legal paperwork. But this can be much easier if you know about all the following important factors. In this list the first is, the title of the property. Then purchase agreement, no objection certificate (NOC), tax payment receipts are the must have documents. Along with these documents, check the financial history about the house. Is there any pending loan on the home and all other financial issues. Check more about property in Raipur and house in Raipur, if you have any problems related to real estate. Building quality: Expert says that the average life of any home is about 30 to 35 years, only if is is well maintained. But if the home is older than around 15 to 20 years, then you 2. should check about the quality of construction. Older homes always have a problem with foundation solidness, which are too difficult to fix and even too much costly. Check the construction and if you found any cracks or shifting then take a advice of any builder or construction organization to more about whether is it possible to fix it or not. If it is not possible, then the best choice is to go for the next house. Electrical fittings and issues: Older home always has an older electrical fittings and fixtures. In such situation, it could be an invitation for fire hazards in the future. Check the wires, connection, connecting points whether they are working properly or not. And, if is renovated with the modern electrical system, then there is no need to worry. Plumbing: Old houses normally have that old iron, heavy pipes or sometimes the mixture of old and new one. Iron pipes get damaged after few years of use. You must check some plumbing connection like water connections in bathroom, toilet, shower, kitchen to realize whether there any leakage or not? And if you are willing to replace the whole plumbing system, then this could be a great joke. It is next to impossible. Hows the roof: Normally, the roof is in better condition as compared to other factors, if the house is well structured. Many homes have different sections of roofing to improve some kind of attractions. In such situations, it is easier to replace them if any damage occurs. If the roof looks great in condition, then check whether there is any leakage or not? Normally in summertime is it not possible to check the leakage. But still you can determine by examining the walls for signs of drywall or any bubbled paint. Heating: Most of the old houses always have a problem of heating. Sometimes the heating system is in working condition, but your room is still frosty. There are so many 3. different reasons and you have to take an advice from any electrician or mechanic. There are also some other alternatives which can be used and cheaper as compared to heating system installation. Safety: Your home is the place where you will relax, and spend most of the time of your life with your family. Sometimes accidents occur, but most of the accidents are completely preventable by following a few guidelines. Check whether the safety equipments like a smoke detector, fire alarm, carbon monoxide detectors are in good condition or not and if not, replace it immediately. For more information hire home inspector: If you are not so much more knowledgeable or dont want to spend extra time for all the above factors, then just take an advice from expert property inspector. The property inspector must be expert in his field with some experience of property inspection. Now, its your responsibility to take care that each and every part of the house, including windows, doors, walls, paint, plumbing, electricity, water supply, ceilings, roof, safety systems should be examined carefully. Hire an expert real estate agent: It doesnt mean that hiring any real estate broker will increase your expense and you have to pay some amount of money in the form of his service charge or commission. Hiring a real estate broker or agent is also as important as hiring a property inspector. He will help you in the entire buying process. He will also help you in the negotiation of the prize with the home owner. You will invest some extra on real estate broker, but at the end having an expert and professional guide with you in the entire buying process can give you much better outcomes in shorter time. These are some important factors which will help you to ease your headache while buying a pre-owned home. And at the end you will find your dream home.