Research well: - Before plunging in to realty market make sure that you explore it well. Remember you can never do enough research as the market is huge. But depending on the type of the property few criteria’s can be specified and duly complied with to rejoice the decision in long run.

 If it’s about home purchase affirm to do following research

• Explore the surroundings
• Get information about the crime rate
• Price of the other similar properties in the area
• Amenities and facilities
• Age of construction
• Taxes to be borne

Prepare yourself financially: - If you have any financial problems get them sorted. Purchasing property requires lot of investment. Make certain that you have enough funds in hands to easily meet the expenses like down payment, stamp duty, survey fees, agent fees and solicitor charges.

Structural Survey: - Structural survey is helpful in identifying the construction quality of the property you are buying. If you are purchasing recently constructed property then mid-range survey will suffice the purpose but if an older property is purchased, high level inspection is required. Though it may cost you little extra but prevents you from investing in a wrong property. Moreover, structural survey conducted facilitates in easy loan financing from banks and other institutions as none of the mortgage lenders wish to lend you the amount for a house that may fall apart.

Property price: - What is the price of other similar properties in the area? What is the prevailing market price? What is the capital appreciation over last 10 years and how the realty rate tends to grow in future? Consider all these questions and find relevant answers to make your deal effective and easy.

Fixtures and Fittings: - Take an observant stroll inside the house to find that everything is in place especially the fittings. You may come across several houses which are beautifully decked up and lure you. But this is just a trap to distract your attention from other important things that may add up to the cost later.

Hold on your emotions: - Never show that you are overly keen in a venture. In fact never rush in to buying a property. Remember buying a house is a big deal and will affect your decisions in long run. So be patient and act wisely.  If you show that you are interested in specific property than real estate agents and sellers may charge you more than the actual price leaving a dent on your pocket.

Consider the future: - Before making an investment in the real estate make sure that you consider future uncertainties. Are you prepared to shoulder the responsibility of mortgage? Realty market is uncertain. Interest rates may increase anytime and this may affect your monthly mortgage repayments.

Keep a tab on the realty market: - Make sure to purchase the property at its lowest rates. Draw complete knowledge of the realty market and understand its dynamics. If you find it complicated, get in touch with real estate agents or experts.

Who is in your neighbor: - Get to know your neighbors. Talk to people around and find their background details. Make sure that you don’t have any criminals in your surroundings. Also if you prefer to work from home and need peaceful area, ensure that you don’t have noisy children or pets sharing a house beside yours.

Article Posted By : zarasmith  On January 09, 2014lView All Articles

Subhadra Bhadauria is a zealous writer for leading real estate site 99acres.com. She shares different posts on realty market and frequently updates the investors about the changes taking place in the sector. The writer complet

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Property price , buying a property , real estate agents