Things to keep in mind while buying home online
Purchasing a home is one of the most significant decisions in a person’s life, as it’s always special to you. But there's some work involved in the process of buying a house to make it happen. Especially for homeowners who aren’t familiar with the buying process online. Thus, being methodical and having a handy checklist can help you know what you are getting into. Further, read on these things you should keep in mind while buying a home online to add perfection in the whole journey…
Tips, if you plan to buy a new home online
Start by using the internet to shortlist properties
Today, almost all properties are available on the internet. They provide all features like 360-degree views, pictures, and videos that you need to know about the property and the amenities that come with it. Besides, online platforms can also help you gain information on the expected development of the area in a radius of 5 kilometers, which could help you filter or shortlist properties that fit your bill.
Search online for agent listings
These days, plenty of websites can refer agents to you, but there’s no assurance of quality. As the agents they refer are often simply those who have paid the site owners a fee to be listed in their directories. Thus, it’s suggested you research for the top real estate companies in your area. Go to those websites and look up profiles of individual agents at offices near you. Look for details of their experience, get testimonials from past clients, and ensure you’re comfortable with how they communicate.
Do not skimp on physical inspection
Once you have a list of probable properties, take the time to do a physical inspection of the property. This is the most critical step in the home buying process. Also check for the factors like the level of completion of the project, quality of construction, accessibility, and surrounding areas before finalizing a property.
Home loan calculator
Once you have finalized the property, chances are you will be opting for a home loan to pay the asking price. Thus, one has to have a clear idea of his or her finances before borrowing a hefty amount. A home loan EMI calculator is precisely made to help potential customers make an informed decision. It is a free tool that requires a few inputs and helps you accurately calculate the monthly installments from the comforts of their home, using desktops or smartphones.
Advantages of knowing home loan EMI in advance
- Helps in knowing loan affordability
- Helps in deciding the loan amount
- Helps in planning out loan repayment
- Helps in planning prepayment
Do a comparative market analysis of the property or asset price
It is extremely important to do a comparative market analysis of the property's price quoted by the developer/owner to ensure that you don't end up paying more. However, it also prevents you from falling prey to low-priced troublesome properties.
Resist the lure of online discounts
Offering discounts online could be a way of trading off non-moving properties. So, do not get carried away by the discount amount and book the property before you physically inspect the properties and have clear discussions with the builders or existing owners. Go ahead with the deal only after checking the prices of comparable properties in the market.
Documents are important
While making a purchase, it is imperative that you physically check all the documents of the land and approvals with the developer/owner. Also when it comes to your part, there may be an option for you to complete your paperwork online, but remember physical copies of property documents are equally essential.
Conclusion
In conclusion, buying a home online is a fantastic way to get started. But when you make an online purchase of property, complete the process with utmost diligence and remember there are no exchanges or returns.
