Real Estate Checklist: Things to Consider Before Buying a Property

In a real estate boom, especially at a time when virtual real estate viewings have gained prominence, homebuyers will clamour for almost any house that hits the market. This is great while it lasts, but when the party's over, only homebuyers who choose the best locales will be holding the most valuable property that also depreciates at a much slower rate.

That being said, buying a home is a big financial decision and it’s best not to go into it blindly. That’s why touring is one of the most important parts of the homebuying process. Real estate is one of the significant assets you will own in your life. Experts are of the view that asset building cannot be complete without owning property.

When buying a house, everyone has priorities. The buying process is complex and takes time, and it’s easy to get off-track. Having written priorities is a helpful way to guide you through the process without forgetting some of the features that are important to you and your family.

There are a lot of aspects, factors and things to consider when one is in the mind of buying a home. One main aspect of the home buying process is site-visits. They are very crucial, time-consuming and can get tiring at most times. Keeping a lot of things in your head while going for a site visit may not be the best scenario for you.

Keeping that in mind, we have curated a small checklist for a real estate site visit for homebuyers. Let’s dive in!

1. Architecture, Foundation and Structure

One of the most important factors that go into creating a particular project that would actually amplify it is the durability and stability of it. These aspects should be well inspected as this is the main factor to know about the future state of the foundation and structure as a whole. It is important to know the depth of the hole dug to lay the foundation of the building, the quality of materials used, find out the kind of land the building is being constructed on, how it is being constructed and whether the people building it are doing it well.

1. Interiors

This includes the ceilings, walls, and the flooring – it is important to thoroughly inspect these 3 things. These indeed form a particular house and their strength and stability should be properly examined. Look for any bends in the surfaces and spot softs. Also look for parts of a surface that are taking longer to dry – if it is, this means that it may be prone to leaks in the future. Cracks and other discrepancies should also be inspected. When it comes to flooring, look for minor/major slopes or slants in surfaces, irregular or loosely/badly fitted tiles, cracks and check the quality of the cement and tiles being used.

1. Fittings and Wirings

Once one moves-in to a house there shouldn’t be problems or issues that they might face when it comes to everyday things like lighting, gas, geyser, fans or any other appliances. Barring the timely irritation, there are also good chances that one’s appliances might be in danger of getting severely affected. One should look into the brand/kind of material that the builder is going to use not only within the apartment but, the project as a whole; one must seek to acquire better fitting options or customised in a way that would benefit the person who is going to live there.

1. Seller’s Incentive to Sell

When looking for homes, you will find that some sellers are more motivated than others. Some people will place their home on the market but don’t really care if it sells or not. If not, they are happy to continue living there and will try again later. With this type of sale, there is not usually much wiggle room on the price.

1. Area of the Plot

In case you like the place shown to you, the area/size of the residential plot is an important factor when it comes to making that decision about your dream home. Do check on the built-up area you need to build that home and also the topography and soil. After all, it is always better to be safe than sorry.

Buying a house property is a necessity and a dream for everyone. However, it is of vital importance, that you go through the above checklist before finalizing any property and investing your hard-earned money in it. While virtual site visits are always a good idea, in order to be completely sure, it is important to visit the property in person.