How to Buy Property: Know these five things before buying property, otherwise you will lose both money and property

Khabar tv (Bureau). India's property market is growing rapidly and the rates of land are increasing by leaps and bounds. Apart from being expensive, investing in real estate is also an important decision for people. 

Whether you are buying a house for the first time or buying property for investment purposes, choosing the right property is very important. Especially when it comes to ready-to-move properties, ignoring some things can prove to be costly.

Property expert and CMD of Oram Development says that ready to move property has its own benefits, but there is also a lot of risk. Therefore, it is very important to keep some important aspects in mind in this deal, so that you can avoid any major loss. 

The biggest advantage of buying a ready to move property is that if you are buying it for yourself, you can immediately shift with your family and if you have bought it for investment, you can rent it out. But, it is very important to keep 5 things in mind in such a deal.

The title of the property should be clear (property title)

While buying a property, first of all ensure that its title should be clear. Clear title means that there is no dispute over the ownership of the property. You can go to the revenue office and check whether the person in whose name the property is registered is its real owner. 

Apart from this, ownership rights can be confirmed through property tax documents. If the property is mortgaged with the bank, then information about it can also be obtained from the bank. Taking the help of a professional lawyer or real estate agent in this work can also be a good option.

Construction time and quality

It is also important to keep in mind when the property was constructed and what is its quality. Generally, the life span of a building is considered to be 70 to 80 years, but one should also evaluate the condition of that building. 

You can get the building inspected by property dealers, local people or a structural engineer. Nowadays many professional companies also help in this service, who can correctly evaluate the quality of the building.

Nearby amenities (property purchase tips)

While buying a property, it is also important to see what facilities are available in that area for daily needs. If grocery stores, markets and other daily facilities are not available near your house, then it can be a big problem. 

Therefore, it is important to see whether the local facilities there meet your needs or not. Like the presence of a good school nearby.

Resident Welfare Association (RWA)

Also find out if there is a Resident Welfare Association working in the property you are going to invest in. RWA is responsible for solving minor problems like security, electricity, water, plumbing etc. This makes your life more comfortable. If there is no RWA in the area, you may have to solve your problems yourself.

Security is the most important issue (property purchase rules)

Security is the most important aspect of property purchase. Find out what the security system is like in the area where you are buying the property. Especially if you are buying a property in a big city, the importance of security increases even more. 

It is important to check aspects like the distance of the local police station, presence of a watchman and arrangement of CCTV cameras.