Everyone has the “American Dream” of owning that special house but for some it may take longer than for others but when you are ready there are some things that you need to consider before making that big purchase.

1. Tips for Buying Residential Property
Everyone has the “American Dream” of owning that special house but for some it may
take longer than for others but when you are ready there are some things that you need to
consider before making that big purchase.
Decide the location
If buying a house is for a family then you should have a family meeting to get ideas on
where you would like your new home to be located such as in the city, centrally located
to schools, shopping malls, work, or out in the country. You need to take in
consideration how far you want to travel each day to work, what the schools are like in
different locations, how close you want to be to your neighbors, etc. If you are single or
just starting out as a married couple or have small children you may want to consider how
far it is to the nearest playground, traffic, is there places to walk, etc.
Type of house you want
This is the next thing that you want to consider. What type of house you are looking for
depends on whether you are single, have a family, newly married and starting a family
later, etc. All of these will factor into whether you are looking for a home with two or
three bedrooms, a ranch style house, one or two floors, condo, cottage, farm house, etc.
Your budget
Knowing what your budget is in regards to how much down payment you have and how
much you can afford to pay on the mortgage, insurance, real estate taxes each month will
help to narrow down the type of houses you should look at. You do not want to look at
houses that are not in your price range because if you find one out of your price range
that you really like you may be tempted to purchase it and then find you cannot make the
payments or find yourself have to live on an extremely tight budget to afford it.
If you find that you are confused or not sure exactly what you want talk to a real estate
agent and give them the amount of money you can afford along with what you are
looking for in a house or condo and let them show you what they have listed. Using a
real estate agent does mean there will be a fee but they know all the legalities and will
make sure that all the inspections are done, that the house measures up to the standards
you want, and can also help you with the mortgage and how to make an offer on the
house.
The article is written by Avisha Jain who is a real estate investor and has bought/sold
properties in residential projects in Kolkata, India. She has also worked with companies
like Ruchi Realty to promote their real estate Kolkata projects.