Points to Consider in Buying a Property
Buying a property is like choosing a wife. You have to get to know the property to its deepest structure if you can, or else, you might end up labeling your property acquisition as the worse decision ever made in your life, pretty much like how you’ll end up going to the court and filing a divorce against your wife who you married after 3 weeks of dating. I mean seriously, a property has more things up its sleeve that’s beyond how it looks like. If the price is too good to be true, then you know you its time to pull off that fedora hat and start investigating.
So what are the points you have to consider in buying a property? Well first, you have to identify what you’re going to use the property for, and if the overall structure of the property fits to this purpose. Next, check every detail of the house out-and-out for any defects and how serious they are. Real-estate properties are often viewed as assets, lucrative assets that spew out monthly returns. This might not be the case if you find out that the property you bought are downright defective that you might as well redo the entire building. So demand the owner to show you the condition of the building facilities such as electricity, water, roof etc.
Consider the location of the property as well, and how accessible it is to emergency and public services such as grocery stores, hospitals, parks, the police station, school and the like.
Apart from the physical structure of the building, you also have to pay very close attention to the documents. Make sure what you’re getting is the real thing. Consult a lawyer if possible. Nobody wants to get down with fake documents, and be sold with phony properties. Moreover, documentations can affect the property’s eligibility to acquire insurances so be sure to talk about these things with the seller, and perhaps a bit more of the property’s history as well.