6 common mistakes that every buyer needs to avoid

Learn from these mistakes and be a smart buyer.

Investment in property is a safe and highly profitable option in India. The real estate market accounts for about $180 million in 2020, making it a huge sector than any other form. While investing in real estate, it is very important to start on the right foot. For this, you need to make a smart investment that can generate healthy returns and potentially change your life. While a poor investment can hamper the huge returns which you might be expecting.

Some common real estate investment mistakes that you can avoid to make a profitable investment while buying your dream 3 BHK flats in Zirakpur are:

#Mistake 1

Not doing proper research

Most people overlook the crucial step of doing proper research while investing in a property. Failing proper research can mean an average return or a dead investment. To overcome this, you might visit virtually through live walkthroughs or physically the residential apartments in Zirakpur. This isn’t enough, some important aspects of research includes:

  • Builder’s history

  • Civil amenities

  • Upcoming projects in the area

  • Rental appreciation

  • Resale value

  • Location’s capital appreciation.

Every bit of research you do with or without the help of a realtor can give you huge returns in the future.

#Mistake 2

Not listening to realtors before rushing into a flat

While being realistic is crucial, rushing is not an answer. Before you wish to see various sample residential apartments in Zirakpur by paying a visit or through live virtual tours, understand the process of buying a property. You need to know, apart from physical appearance, what all you should look for and which factor should hold more weightage than any other.

#Mistake 3

Not having the right set of questions

Once you are on the path of selecting your 3 BHK flat in Zirakpur, you need to introspect as much as possible on as many residential apartments in Zirakpur.

Some set of questions that are crucial are:

  • Is the project government approved?

  • Who owns the land on which that project is built?

  • Is the project free from all types of debt?

  • Does the project have sewage approval by the government?

#Mistake 4

Not checking for essential approvals

Checking for approvals can help you save yourself from a major fraud while buying a 3 BHK flat in Zirakpur. Some certifications that government issues while verifying a property are:

  • Building Plan: The approval of the blueprint of the building should be approved so that you know no unauthorized construction has taken place. An unauthorized construction can lead to a demolishing of the residential apartments in Zirakpur.

  • Mutation Certificate: This verifies the owner of the property.

  • Completion and Occupancy Certification: This will ensure that the property is ready for habitation.

  • Encumbrance Certificate: This will ensure that your 3 BHK Flat in Zirakpur is not already under any mortgage.

#Mistake 5

Sticking with a fixed budget

Before embarking on your journey to buy a 3 BHK Flat in Zirakpur, most people fix a budget. But, if you want a substantial property that can give returns in the future, you need to be flexible. Negotiation on a property price can save you a few thousands or lacs, but when you are dealing in lakhs or crores, focus more on quality and return on investment and browse carefully among the residential apartments in Zirakpur to find your perfect one.

#Mistake 6

Ignoring the Contract rechecking

The next most significant mistake that people make is not checking the contract of their 3 BHK Flat in Zirakpur properly. Foremost, check that the facilities mentioned in the brochure are there in the contract. Also, you need to check for:

  • Possession date on the contract

  • Maintenance Cost

  • Payment Terms

Remembering these simple points can help you wipe out a major mistake of your life and help you browse through residential apartments in Zirakpur easily. Even if you are a first time home buyer, then avoiding these mistakes can help you save time and money.

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