Advice For Buying New Homes |
Posted: April 21, 2014 |
When you are buying a new house like residential properties in Malad, there are certain issues that you will have to deal with as opposed to buying a home which has been pre-owned. While you will be given a lot of information on the building, the project goals and expectations, there will always be a few factors that will remain uncertain. These factors could include questions about how the neighbourhood will be and whether the completed building will meet all of your expectations and so on. Thus, if you are planning on buying a new house, here are the things that you should know. Customisation One of the biggest advantages of buying a new home is that if offers you the chance to modify features that you don’t like, or maybe include some that you do. You can try to persuade the builder to modify some of the features before you take the final step. For example, you might not like the wallpaper or some of the fittings in a particular room. Usually the builders are pretty flexible and allow you to change things like gadgets, floors, paints, fittings, etc. Since a lot of the materials are still at the location, changes are easier. More finance options Many builders have tie ups with banks. This means there are more ways for you to get the money you need for your new home. It is easier to get the help of your builder to get you to qualify for a loan with the creditor of your choice. Always check out the alternative options. Never take your current deal for granted. On the other hand, don’t always assume that the finance deal by your builder is going to be the best one. It is not compulsory to use that. Buyers’ market Currently, the real estate market is still in favour of the buyers. Right now, even buying new houses is in favour of the house shoppers. You have the freedom to bargain the price with your builders and get a really low price. One possible perk of buying a new home is that the appliances will be using more advanced and often more power-saving technology. This automatically translates into lower power bills. Just remember that the buyers have the upper hand this season, use that and drive a hard bargain. Understand the warranty While buying one of the residential properties in Malad, be very careful and read the fine print on the warranty. It often includes a clause whereby the builder will fix any problem that should arise in the future. You must read and understand the document very carefully, find out what the coverage is, how long is it valid for, what fixes it offers and so on. Please find out not only what the warranty covers but also what does not fall under its coverage as well. Also be aware of who is backing the warranty, whether it is the builder or even a company acting as a third party. Contract clause There are certain builders who put in arbitration clauses in their contracts. Remember that an arbitration clause means that you give up the right to file a lawsuit and use a dispute resolution process provided by the builder. Make sure you are aware of what clause exists. In case there is an arbitration clause, find out which company will be handling the process of dispute resolution and whether it has a solid reputation. In writing If there are certain amenities that have added to the value of your purchase and are still under construction, make sure that you do some amount of due diligence. About the author Sandra Martin is a former tax specialist and a real estate blogger who writes on various topics like residential properties in Malad. Sandra is a fitness freak and loves working out on weekends.
|
||||||||||||||||||||||||||||||||||||||||||
|