5-Mistakes buyers should avoid while purchasing property

No doubt that buying a home is not only a lifetime affair and is for lives thereafter as well. That is the reason why people get too attached and emotional and often forget to analyze one’s actions and fail to take a practical decision. The reasons are many. Quite often one invests one’s life time savings and one thus decides to finalize the deal and make it picture perfect and in that reality is most of the time ignored. The trend watchers, the veteran realtors and the experienced sales personnel of the realty industry have often seen people losing the big and good deals because of such reasons. In this article the veterans make the public aware with their experience and oft faced dos and don’ts.

Know the Worth of the Property before Investing

Avoid paying too much on a property

"Your over payment on a property should have a justification"

The realtors predict that real estate has cycles but the householder most of the times does not follow it and enter the market for buying property when he or she is in a good financial state. What has been observed by them is that many people invest more on a property they like in an area whose prices may have increased the maximum at the peak period. In that case the buyer is already paying a high premium choking the growth of rate of return on investment. We have already discussed on the misconceptions of property seller where seller modify property price as per their requirements so be careful on the property price.

Don’t overestimate the infrastructure growth

"Over confidence on the growth prospects can snarl-up your 
bargaining skills"

   Over Estimation Can lead you into a Trap   

Many a times the realtors have observed that due to a property that the buyer likes are over estimates the growth of the infrastructure around the place and agree to the bargain of the seller. If you count on the property to increase the value and you buy the property on that assumption then one is exposing oneself on to too much of risk just in case some untoward happening strikes and the expectation is not met. The realtors remark that one should go and enquire about the plans of the infrastructure in the area in the local government office and then only take a decision. 

Don’t be trapped by cheap properties

"You might not be so lucky to have a good property in cheap price"

The realtors say there is always a good reason why a property is sold at a rate comparatively cheaper than the properties in the adjoining areas. One should raise the question that if a property is cheap then why anyone didn’t grab the offer earlier. The veterans caution that usually the cheaper properties may have legal litigation and other problems attached to it. It may be that you are buying a property that is being notified by the government to be acquired for public work. So it is always advisable to take due notice and enquire thoroughly before embarking or buying a property at a cheaper price. One of the finest example is TGS Layouts where they offer gifts and discounts on their projects from time to time. Any new buyers of residential land can always drop their reviews or complaints on the property of TGS Layouts.

                  Showing your Emotional Attachments to a Specific Property is wrong             

Don’t be too attached with a property

Everyone has a mindset view of his/her property and your agent’s job is to find that from you. The selling agent will always try to make you fall in love with the project. Once you are too attached with a property you may ignore doing the due diligence of the property and may land up in trouble.

               Dreaming For a property              

Being too attached with a property often makes one too biased and unaware of the faults and follies that one needs to take into account and investigate.

"A home is much costlier than a house"

Don’t wait for your dream home

It is not advisable to wait for the property that one wants and then miss the good opportunities that one gets along. It is always better to equate the pros and cons of each and every deal and evaluate it with prudence and then accept or reject the offer.
"Don’t wait for opportunity even a blunder in right place is worth full than your cleverness’ in wrong place"