A property deal is a very crucial task as it involves huge amount of investment in terms of money. Whether it is buying or selling a property, both require considerable amount of effort, money and time to be invested, in order to get a profitable deal. But when it is comes to buying a property, in this case a residential land, the risk becomes double. This is because even a little miscalculation or overlooking on the part of the buyer can backfire and result in loss of investment or property disputes in the worst case scenario. Buying a residential land is the first step in building a dream house for many people. To ensure that this dream doesn't turn into a nightmare, there are some tips you can keep in mind while buying a residential land.
Check Points To Consider While Buying A Residential Land
- Clear Title - One of the foremost factors to ensure that the title is in the seller's name and he holds absolute ownership of the land. Get hold of a professional and make sure that all the legal property documents are up to date. Check for hidden clauses or any irregularity to avoid any hassles.
- Property Valuation - Before buying a residential land, get the property valued by experts to ensure that you are getting a fair deal.
- Govt Regulations - Check whether building a house on the residential property will not flout any government regulations, building laws, etc.
- Basic Amenities - Make sure that your property has access to basic amenities like drinking water, electricity connection & so on.
- Connectivity & Accessibility - Having a well-connected & accessible property is not only vital for those living there, but also increases the future resale value of the land. Good roads, connectivity to major hubs, proximity to hospitals/railways/airport all have impact on making your living experience a great one.
Keeping all these factors in mind will ensure that you do not face any hassles after buying the residential land & you are able to realize your dreams of a beautiful house.
2 Comments
Gayatri S
18 September, 2012 at 10:22 am
Checking for the land ownership is of absolute importance since most of the time illegal or distributed ownership of land have been the strong reasons for land disputes. It is necessary to verify the documents of ownership held by the seller. Do take a Xerox copy of the documents presented by the seller to be on the safer side. A word of caution to the land buyers: Do not go by what is shown in advertisements. Make sure you personally visit the land site and check whether all the promised facilities and amenities are in existence and not a dream which is yet to touch reality. Keep in mind smallest of the things to make sure the land you buy becomes a genuine investment for a lifetime.
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kmin
12 September, 2012 at 7:37 am
Totally agree with you before buying any property we should go through certain parameters to verify the property.
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