Important Things To Consider While Buying New Flats In Croydon

Posted by Lucas Stewart on November 20th, 2017

You opt for a rental residential property and start residing in. You do not like it or you face certain issues there, you can leave it and then look for other suitable rental property and then start residing in the new one. Your temporary address keeps changing twice or thrice every year which is okay to adjust with somewhat. Now, if the same fortune you experience with your purchased residential property? Will it be okay for you to adjust with such situations when the property is not rented, but the one that you invested on to own it? It is understandable what the readers are now thinking in their mind. You do not wish to get involved in such mess then consider checking certain things while buying New Flats in Croydon.

Know your financial freedom and fix your budget. Do not unnecessarily over-pressurize yourself with buying a very expensive flat, if your financial capability is not that high. You might take house loan but you have to repay it also. Your EMI should not eat up a lion’s share of your monthly income.

The locality and neighbourhood should not be ignored. If crime rates are very high in that area, then do not opt for the residential projects even if they can sooth your budget more than other ones. Check how far the closest healthcare centres; drug stores; educational institutes; shopping centres; eateries are. Check the facts like-does the location enjoy good public transportation facility or it is a very remote area, almost cut off from nearby facilities. Its proper connectivity to other parts of the city is important to look for.

Legal check of property is very important to conduct a checking on. The property should be legally authorized to be constructed on the plot of land it stands on. The property buyers should check that the real estate companies possess all the permits and clearances before they started the construction of the house or building. This will ensure that the property buyers do not face trouble at the time of registration of the house in her or his name.

The permits and clearances generally can include the correct land use permit, clearances from the electricity board, water board, the local registration body etc. In case of high-rise apartment buildings, special clearances are essential to avail to ensure that construction standards are properly met. Ask for showing you such permits and clearances and get it verified by your lawyer. Check for soil quality and land topography while investing on New Homes In Croydon‎ should also be done.

Another way of ensuring that the residential project is not risky to invest in would be to opt for those project developers on whose board there is a state-owned bank. The banks (the banks which have got tie-ups with the real estate company or project developer for home loans) will conduct a thorough check of the property and it being a Government bank will never get involved in risky projects.

You should ask for a clear-cut estimate of possession timeline.

About the Author:

Author is the regular contributor of Inspired Homes Blogs and Articles on web. He has published lots of article related to New Flats in Croydon and New Homes In Croydon.