There are many advantages to buying a pre-owned home since there is no waiting period for construction to be over. You get a ready-to-move-in home in a neighborhood of your choice and already has all the necessary fittings to make it a comfortable home.
However, there are certain things you need to be very careful about when you are planning to invest in a pre-owned home. Here’s a brief list of some important things you need to look into:
-Do a reconnaissance of the neighborhood and ensure that it’s family-friendly. You also need to ask around and find out why the homeowner is selling the property.
-Ensure that the home is based in a good locality where there are good local transportation facilities, basic essentials and easy access to emergency services.
-You should also check that there are functional water and electricity connections with no backlog of pending bills.
-Get a copy of the original building design along with the proper permits. You wouldn’t want a nasty surprise later on and find out that the extension on the terrace is illegal or the extra washroom isn’t part of the original design.
-The ownership papers are important documents that you need to go through very cautiously. Trace the ownership deeds for a minimum of 20 years wherever applicable.
-You should also ensure there are no encumbrances or outstanding loans or taxes against the property.
-Once the paperwork is in the clear, it’s time to start taking a closer look at the structure of the house or apartment. Keep in mind that a lick of glitzy new paint can cover up a variety of damages. Moisture or damp can be easily hidden behind fresh cement and paintwork. Look for bulges or cracks in the walls which are easy indicators of damage due to damp.
– You will also need to scrutinize the woodwork for spongy decay. Check the door and window frames carefully for rot. Cupboards and kitchen cabinets will also need to be checked for mold. Likewise, any fresh paint patches could be covering up water stains and leakages.
-Open all the taps to check if the plumbing and drainage are working properly. Likewise, you will need to check all the switches and electrical outlets too.
-If it’s an apartment you are buying, find out the maintenance charges due to the housing society.
Such detailed checking gives you an astute idea of the extent of renovation needed, and you can use it to renegotiate the cost price. Hope these tips were helpful!