A Checklist for Buying a House

Thinking to buy a property- whether a home to live in with family or for investment purpose or a commercial property- for business? The most important point to remember is that the decision to buy a property requires a long-term financial commitment. Knowing the right questions to ask or engaging expert advice can definitely help you make a sound investment for your future.

For all properties, age and design factors come last in the priority check. Basic checks should include:

·         Structural conditions of the property.

·         Electrical wiring and insulation

·         Plumbing

·         Alterations made to the original floor plan and whether or not these alterations have been approved by the local development authority.

·         Immediate and future maintenance requirements.

How soon you want to move in your property depends on your income in hand which you can comfortably pay as instalment, and on your decision to invest either in an under construction property or ready to move in property or resale property.

Some must-haves you should keep in mind while making a decision in this regard are:

Location:

·         Access to shops, public transport system, schools, hospitals/ medical centre, banks and other civic amenities services.

·         House should be in residential zone.

·         Office should be in commercial zone. It should be kept in mind if the investment is being made in a commercial property.

·         Drainage system of the area should be adequate to avoid water logging during rains.

·         Whether or not it is a traffic-congested area?

·         Power supply in locality is regular or not?

Lucknow, being the capital of the state of U.P., does not have the problem of power supply. Hazratganj, Chowk, Aminabad, Nishatganj, Paper Mill Colony are among the traffic-congested areas of the city, most of these being the office-hub or prominent market centres. You will have to pass through the roads daily to your office or business centre so do check out distance from your office and the congestion along the roads. Older Lucknow has narrow lanes and has some drainage problems, but the newly developed Lucknow including Vikas Nagar, Gomti Nagar, Aashiana and other apartment blocks still under construction do not have much problem in this regard.

Outside the Property:

·         Is the building structurally sound in appearance?

·         There should be adequate open spaces and common areas in residential property.

·         The project whether residential or commercial should have been approved by the government and other requisite authorities. There should be scope or further improvement/ expansion of the property.

Inside the Property:

·         Condition of the building should be checked- signs of seepage or structural damage.

·         Size of the house or shop should be as per your immediate and future requirements as it is not an investment one makes often.

·         Flooring should be intact and level and not lower than the street level to prevent flooding during rains.

·         Adequate natural light and ventilation.

·         Doors/ windows/ shutters are in working order or not?

·         Electrical fitments and plumbing of the building should also be checked. Get expert advice from electricians or plumbers to get it checked.

Legal Considerations:

·         NOC from water and electricity board should also be checked.

·         Check out the encumbrance certificates from the municipality and the owner in case or resale property.

·         Also ensure that lay out plan, building plan, number of floors, and ownership documents are in order.

Checking all these require expert advice. Don’t worry about looking for reliable experts. Come to us. We will help you throughout the process till you are satisfied. Contact us immediately on 0522-4026175 or info@onlineproeprty.in and see how we make you feel like nawabs in this city famous for nawabs.