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By Balvinder Singh Kalra
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When opportunities are knocking the door, you should optimize them to the fullest. COVID-19 has established the fact that owning your own house is better than living in uncertainties of rented one. But, on the same hand, it has increased the risk of being conned. Read the story to uncover the 5 blunders to avoid while purchasing a 3BHK+1+1 in Mohali.
An article published in The Hindu throws light on increased demand in 3BHK+1+1 segment. With companies offering work-from-home for their employees, the millennials prefer a third room or a separate room as their office. The deduction in home loan rates and opportunities associated with PMAY has further propelled the real estate sector. Amid such opportunities, there are many chances that you may get conned if things are taken for granted in all respects.
Here are some things that you need to stay informed and avoid making blunders while buying your dream 3BHK+1+1 in Mohali.
Most of the modern-day real estate agents are just concerned about their commissions and do not take a damn about customer’s feelings and expectations. They are good at trapping the home buyers, especially the innocent and novice home buyers. These agents could be very persuasive and manipulative to mark a deal done.
The homebuyers should keep their eyes and ears open. Proper research and enquiry should be made regarding the prices. It is always better to buy directly from the builder rather than involving a third person. Relying blindly on the advice offered by them could end up in closing a bad deal.
After finalizing your dream 3BHK+1+1 in Mohali, you must check whether your shortlisted space is legally habitable or not. Homebuyers often overlook the importance of document verification and paperwork in excitement. You must consult a property advisor or a professional lawyer and get the documents verified and scrutinized.
You must check these top 5 essential documents before finalizing your ready-to-move flat in Mohali.
It is vital to read the agreement and other terms and conditions thoroughly before signing the dotted line. The reason is that once the document gets your signature, it cannot be altered nor countered. The sale deed or agreement of sale should specifically carry the possession date. It should also include the penalty clause in case of delay in possession.
It has been seen that there are certain costs that are kept a secret until the keys are officially handed over. The property agents and the builders often plan to throw these hidden costs near the possession time. Things are least expected at that time. This leaves the homebuyers with no option than to pay the hidden costs.
As a first time home buyer, making mistakes is common but staying ignorant can be harmful both for you and your hard-earned money. These points should be considered when you are planning to buy a 3BHK+1+1 independent floor in Mohali.
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