Top 5 Mistakes to Avoid When Buying An Apartment in Zirakpur
Buying an apartment can be a great way to create a long-term investment but it can be daunting especially if it is your first property. That’s why it is essential to take certain elements into account before your purchase. To help you guide, here is a list of top 5 mistakes to avoid when buying an apartments in Zirakpur.
1. If you don’t read the documents properly before buying apartments in Zirakpur
Don’t do this as if you don’t read and verify all the official documents, you’re putting yourself in a big trouble like fraud or forgery. So when buying an apartment make sure your new apartments has all the requisite clearances. It’ll also help you know about the co-property state and watch out any loopholes in it.
2. If you don’t look for pitfalls such as electricity shortage, lack of infrastructure or water crisis
Gauge any potential issues that may cause a long-term headache for you. Tangled electric wires, poor infrastructure and the shortage of water proves to be a grave problem. Thus evaluate the property before buying a property in the area.
3. If you don’t get your loan approved before paying token money
Don’t pay the token money before hand and wait till the time your loan gets finally approved. However, you may take the plunge only after calculating the time that it will take to have the loan approved. Also, check for other possible options as well. Or else you’ll be stuck in legal cases and have to lose the said apartment. What we generally do is end up giving token payment in order to ensure that our dream property isn’t sold to anyone else.
4. If you don’t have a clear idea of your financial resources
While looking for apartments to buy in Zirakpur, it’s important to steer clear of your own budget and financial plans. You may be easily confused by all the things and making approximations when it comes to defining a budget.
In fact, before you start hunting for your apartment, you should thoroughly determine your loan capacity with your banker or broker.
5. If you don’t get a thorough inspection done
It’s important to call a reputable building inspector even if the apartment looks like it’s in winning shape. These inspectors are trained to find faults like dodgy wiring, termite infestations, the shape of the chimney, little cracks that you’re not likely to pick up yourself. If there are some major faults that need repair, you may be able to negotiate with the seller to drop the price. The inspection is worth every penny.
The above mentioned mistakes are not intended to discourage you from buying an apartment in Zirakpur but, to help you proceed with open eyes before you put your hard earned savings into an investment property.
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