My friend Nishtha and Ahbay Sharma approached me for advice when they decided to purchase a new home. Nishtha wished for a home with a big kitchen capable of staging a dinner party with all their buddies feeling at home. Abhay wanted a home surrounded by a flowery garden and with a spectacular view from the bedroom. They spent a number of weekends trekking from one property to another until they bought their dream home.
They had to learn from me that there are a hell of things to consider when investing in a real estate property. A big kitchen, a flowery garden and a spectacular view is just a drop in the sea in the world real estate investment. With help of my advice, the two have come up with a checklist of the aspects of their dream house. Here is the detailed checklist prepared by Nishtha and Ahbay Sharma.
1. Defects Liability Period (DLP):
Nowadays most builders operate with a DLP contract that clearly specifies the actions needed when defects occur in a building. The DLP ranges from 6-12 months. This is the period when the builder is liable to repair any minor defects in the house after handling it to its owner. It’s important to scrutinize the contract to know the exact specified period and defects liable to the builder.
2. The A Khata:
This is an important document that all property owners must acquire. It contains all details about your new property which helps you to pay property tax. This document is also important when you want to develop or resale your property. Some activities like water and electricity connections may also require this document.
You might have to consider buying a house with adequate windows and well-set rooms. The rooms should be set in a way that doesn’t allow excessive entry of heat in the summer and loss of heat in the winter.
4. Rain Water Harvesting and Water Supply:
Since rain water harvesting provision is a requirement for most buildings, you should ensure your new house has all components of rain water harvesting. The house should also have uninterrupted water supply.
5. Power Back-ups:
Your new property should have power back-ups to help during the times of emergencies. Since it’s a rule by the government for homes to have solar panels, you must make sure your new house is installed with the energy devices to help you with water heating.
6. Waste Disposal:
Any property developer considers the possible ways to dispose waste generated by the property. If your new property lacks proper ways to dispose the waste, you have the right to ask the builder to provide them.
7. Parking and Open Areas:
When buying a new house, make sure the compound has enough parking lots and walkways to cater for your needs. It’s also recommended to select a compound with enough open space where you can plant trees and set up a garden.
Nowadays people consider use of eco-friendly or less harmful paints in their homes. Before you acquire your new home therefore, make sure the builder has used quality paints that make homes look new for many years.
9. Leaks, Cracks and Water Seepage:
If you notice leaking water pipes or other water systems, it’s advisable to notify the builder to rectify them immediately. This is because water from these systems can seep into walls causing damp conditions. In case of cracks, make sure your new home doesn’t have any before occupying it.
10. House Items and Appliances:
Some important items to examine whether or not they are installed and working properly include lifts, chimneys and washroom fittings. Make sure all the appliances and fittings are of standard quality before purchasing your dream home.
11. Maintenance Crew:
It’s common to deal with problems such as blocked toilets or short circuits in a house. When purchasing your dream home, make sure the property developer has a maintenance crew available anytime to handle any emergency crisis.
It’s important to consider the security system of the home you are purchasing. Make sure the fence of the property is in good shape and also surveillance cameras if any. If you put this into consideration, then you will be able to prevent crime.
Finally, make sure your decision to buy your dream house is guided by all these aspects in the checklist. You don’t have to make rash decisions to buy a house that will bring you headache. Nishtha and Ahbay followed this checklist and ended up buying their dream home.