Before making an offer on a house, you want to be absolutely sure that this is THE one. What are the things to check, what will be your checklist to buying your home. After all, it will be the place you will live in, where your family will grow, where you create your own space and yours to nurture.
So, how will you find your perfect match?
It will be a waste of time if you go into property searches without first doing your homework. How much can you afford, what is the paperwork needed, how convenient is the location for everyone. Is it close to schools, your office? Is it close to shopping, what about public transport for your deliveries, house help, where to buy groceries?
Read more on working on your budget and interest rates
Read more on locations and whether a small or large complex suits you best
But, after all that, there are still more things to look out for, warning signs you need to pay attention to, before you make your offer
Home buyers checklist during a physical visit
- What is the neighbourhood like?
You can change things in the home, but you cannot change the neighbourhood. Your realtor can help you understand the neighbourhood- how convenient are the grocery stores? Malls? Entertainment like movies, restaurants. Important distances from schools and office areas. Proximity to main roads and noise and traffic levels.
Fortunately, today the internet also helps you with a lot of research that you need to do.
- How does the neighbourhood rate?
While we all know that prices vary by the quality of the building and the size specifications, do check how much homes in the neighbourhood are being sold for. This will help you work out if the seller is demanding an unreasonable price, or is undercutting due to some other distress. Your realtor can help you work out the competitive rates in the location. - And, what are the neighbours like?
Check if the property has a large number of units on rent or owners. With high renting, you may be faced with a constantly changing neighbourhood. If those residing are predominantly owners, you have the assurance that the property will be maintained well. Usually, it is a combination of both.
Are your immediate neighbours noisy or quiet? Is there a pet in the house? Are there many units open to short term homestays or BnB, is that a security concern? If there are units rented by students, a floating population is a hazard as they will keep changing with the academic terms. Walk around the neighbourhood, meet the neighbours, get a feel of your own comfort levels. - What is the view from the exact unit you are considering?
An East or West facing home may be important to some to let in the sun, especially in Bangalore weather. However, others may prefer the relative cool of a North facing house. While it may not be possible to check with an artist’s impression or a 3D model in your realty office, you may realise the neighbouring building is too close. Or the house faces the entrance and not the openness you saw in the drawings. So, during your on-site visit to the new property, check the views. - The new one, check the WiFi connections, TV and other media connections!
With multi story houses, satellite TVs have a different connection from single homes. Most people don’t know that one dish can serve a virtually unlimited number of receivers. It’s very possible but it has to be done right.
Satellite signals can run through about 200-300 feet of cable without a problem. That may not be enough to get from the roof to the room where the receiver is.
Check also for WiFi, because sometimes a wall blocks the signal and you may need a booster. With so much dependence on the network, and with work-from-home as well as online schooling, these have taken a new importance today. - How does the house smell to you?
Your nose is a good way to do a quick and easy check for leaks, mould, trapped moisture, faulty plumbing, poor fixtures. All these can be hidden under a fresh coat of paint or a quick fix. A careful check of the ceilings for instance, can tell a different story. If you feel doubtful, you can of course, have an expert come and check before you finalise, you may need to pay for the inspection yourself. - What is included in the sale?
A brand new home usually includes just the sanitary fittings. A semi furnished flat usually includes the fans and lights, water heaters in at least one bathroom, modular kitchens already fixed including the exhaust fans and pipes. And bathrooms with the basic fixtures. In terms of new properties, check the service areas too, for the electronics that come with the house.
However, there could be many things you think are included, but are actually not. The listing description should spell out what is included, and what is not. - Are there any health or safety concerns in the construction?
When it is a resale or a pre-owned home, check for lead treatment or the history of mould. Ask the seller to provide documentations if this has been an issue in the past, and what are the prevention measures already done. If you suspect a hazard, do call in an independent inspection, you may need to pay for this yourself. - When looking at an old home/resale home, check why is the house vacant?
If it is a pre-occupied house, check why the previous owners (or renters) left. If the reason is a job relocation or the result of a major life event, it might give you a better understanding of how much they will be willing to negotiate.
And if this is a new property, check on the probable resale value. Not from the point of selling soon, but more about the kind of development the area is expected to see, and how premium is the surroundings.
An average length of a resident can be taken as nine years. If the turnover is significantly less than this, it can be taken as a warning to delve deeper.
- What were the additions and renovations in a pre-owned home?
If you are buying a pre-owned home, the renovation history will help gauge the conditions and understand the sellers price- what looks like a 3 BHK could actually have been 4 with walls collapsed.
For a new home, you also need to understand where cupboard spaces have been allocated, especially for kitchen storage. What are the fittings for air conditioning, or will this have to be created once you move in? Fortunately, most new constructions today plan around the fittings and provide convenient electric wirings too
- How old are the appliances and major systems, especially in pre-owned homes?
Understand the essential life span and warranty of the white goods, if these are included in the sale in a semi-furnished or furnished home. Checking the warrantee terms of fixtures like the refrigerator, washing machine, even the air conditioning and water heaters, will help you budget for repairs and replacement expenses. If you are moving into a home where these are already close to the end of their lifespan, you may want to negotiate replacement costs
- How much will you pay in closing costs?
The down payment is not the only cash you need. There is also the loan fees, lawyer fees and title research, appraisals and processing fees as well as administrative fees. Expect an addition of 2 to 5% to the home purchase price in the closing costs.
Be super vigilant in your inspection. Then you will have the confidence to be buying the perfect home. Check the taps, the electricity, the smells and the sounds. Then confidently step into the next processes- the negotiations, the payments, the paperwork. Soon, your dream home will be yours!
Suggested reading: Shop around for a mortgage
