The Options That A Buyer Can Avail In Case He Or She Has Invested In A Wrong House


28/02/2017

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The Options That A Buyer Can Avail In Case He Or She Has Invested In A Wrong House

Mostly, all of us think of investing in a property once in a lifetime as the amount of money involved is huge and hard earned. It is always advisable that you carry on proper research before investing your hard earned money in this sector. Your one incorrect decision may lead to huge financial loses. Stated below is a checklist of some common mistakes that buyers commit while purchasing a house:

  • You tend to invest beyond your financial capability
  • You do not do any research work of your own rather rely fully on the advertisements given by the builders and the information fed by the brokers. 
  • Depending totally on rental income to pay the EMI.
  • While calculating the total cost, you do not take into consideration the delays that may occur in the project. 
  • Long term planning is not done
  • The terms and conditions of the loan taken are not properly understood
  • You do not consider the exit options that can be used to deal with financial imbalances.
  • Adequate liquidity is not maintained
  • You fail to be more careful and diligent while taking decisions regarding your investment. 

While investing in a new property the buyers must always remember the proverb that precaution is better than cure. They must always consider their personal needs and specifications before purchasing the house rather than repenting after the investment has been done. The delivery time, amenities of the house and the payment plans must be carefully analysed by the buyer before such investments. Nevertheless, there are certain situations under which the misjudgement of the buyer in case of home purchase can be curtailed. 

v The Buyer Selects The Wrong Lender: Under this situation, the buyer can utilise the option of transferring the loan to some other lender. This step taken by the buyer makes him incur penalty charges but the better part is he or she gets rid of the unfit lender.

v  In Case Property Rates Do Not Appreciate: Investments in real estate must always be long term. There is nothing to get worried if the property rates are not appreciating in the short run. It is important that you enter and exit in this industry at the perfect time as it is cyclic in nature.

v  The Developer Fails To Perform As Per Expectation: In this case, the buyer can create a group of customers who are facing similar issues and can together take legal actions against the builder.

v  Recurring Expenses Tend To Increase: The buyer must always check the maintenance cost with the builder before purchasing an apartment. Later on, if he finds that the expenses are going out of reach then there is no other option than to sell out the property. 

The buyers must be particular when it comes to choosing the right amenities for their new house. If you end up choosing the unnecessary things for your house then several problems may come up in the future either relating to their maintenance or at the time of sale. If investment is done with due care and diligence then the security of your investment can be assured. The buyer must check the credentials of the builder before purchasing the property from him and also see to the fact that all the important approvals have been complied with. 

Choosing a reliable realtor who can help you out in the correct manner is essential in the real estate industry. You can totally put your faith on Sikka Realtors in this regard as our consistent performance in this field has earned us huge client satisfaction. We cater you with several options of property for sale in Dwarka and also DDA flats for sale in Dwarka. You can also contact us if you are searching for flats for rent in Dwarka. Our dedicated and hard working agents will never let you take any wrong decision in choosing your dream house. 

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