Few important things you must check before purchasing property !

Key Considerations When Buying Ready-to-Move Properties !

In the property sector, there are two primary types of properties: ‘under-construction’ and ‘ready-to-move’. Ready-to-move properties are available for immediate use or rental, offering the advantage of instant occupancy or income without possession delays.

However, even with their benefits, there are key factors to consider before purchasing:

1. Title

   Ensure the property has a clear ownership title. Visit the Revenue Office to verify the seller’s ownership and avoid potential fraud. Property tax documents or bank verification can also help confirm the title.

2. Age

   Check the property’s age and construction quality. The typical lifespan is 60-70 years. Older properties are usually priced lower, but it’s worth assessing the structural integrity by consulting local residents, dealers, or hiring a structural engineer.

3. Amenities

   Consider the availability of essential services like shopping and education. While online shopping may seem convenient, local facilities are crucial for long-term convenience. Also, think about future needs like nearby schools.

4. Association (RWA)

   Check if the area has an active Resident Welfare Association (RWA) for services like repairs and security. An RWA can help ensure smooth living conditions and address any safety concerns.

By considering these factors, you can make a well-informed and secure property investment.