Purchasing a property is a significant investment, and with the growing demand in India’s real estate market, it’s more important than ever to make an informed decision. Whether you’re a first-time buyer or a seasoned investor, skipping crucial checks can lead to serious financial and legal troubles. Here’s a guide to five essential things you must verify to ensure your property purchase is safe and secure.
1. Ensure a Clear Property Title
One of the most critical factors when purchasing a property is ensuring the title is clear. A clear title means that there are no legal disputes over the ownership of the property. To verify this, you can visit the local revenue office or use property tax records to confirm the registered owner. In cases where the property is mortgaged or has a loan, you can contact the bank to cross-check the details.
It’s a good idea to seek professional help from a property lawyer or real estate agent to ensure all the paperwork is in order. If the property title is unclear, it could lead to disputes or complications in the future, jeopardizing your investment.
2. Check the Age and Quality of Construction
Whether you’re buying a ready-to-move property or something under construction, knowing when the property was built and its structural integrity is vital. Generally, buildings have a lifespan of 70 to 80 years, but factors like construction quality and regular maintenance play a huge role in how long the property will last.
Hire a structural engineer or get an evaluation from property experts to ensure the building is in good condition. Some professional companies also offer inspection services to assess the overall quality of the property. This step can help you avoid buying a property that may need significant repairs or has structural issues.
3. Evaluate Nearby Facilities and Amenities
Location is key when buying a home. Make sure the property is close to essential services like grocery stores, hospitals, schools, and markets. Having these facilities nearby not only adds convenience to your daily life but also increases the long-term value of the property.
For families with children, having a good school nearby is especially important. The availability of everyday amenities can greatly influence your comfort and quality of life after moving in, so don’t overlook this aspect when evaluating a property.
4. Check for an Active Resident Welfare Association (RWA)
An RWA (Resident Welfare Association) can significantly improve the quality of living in a housing society or apartment complex. RWAs are responsible for handling day-to-day issues like security, electricity, water supply, waste management, and maintenance of common areas.
If there is no active RWA in place, you may end up dealing with these problems on your own, which can be time-consuming and stressful. Make sure the property you’re considering has a functioning RWA to ensure your concerns are promptly addressed and to enhance your living experience.
5. Security Measures Are Essential
Safety should be a top priority when purchasing property, especially in large cities. You need to evaluate the security arrangements in place at the property. Look for features like CCTV cameras, a gated community, a watchman, and the proximity of the local police station.
Security is not just about peace of mind; it’s also a crucial factor that can increase the value of your property. In today’s world, ensuring your home is secure is more important than ever, so make sure to assess the level of safety before making a purchase.
