Why Many First-Time Buyers Regret Not Asking These Questions?

Buying a home for the first time is a journey filled with excitement, anticipation, and which is to say full of dreams of a new chapter in your life. In the middle of it all many first time buyers do in fact make the same issue they don’t ask the right questions before they buy. These small over looks at the time may seem unimportant but in the end they turn out to be large scale regrets.

At Property101 we have seen many of these regrets are reported to be easily avoided with a little more awareness and due diligence. From unexpected fees to project permits, what to ask before you buy is the key.

Not Asking About the Total Cost

One of the great errors is that which we see of homebuyers’ assumption they will pay only the price which the developer has put forth. In fact homebuyers usually end up also paying for parking, maintenance deposits, registration, GST and a host of other unexpected charges. Before putting in that signature buyers should put forth the request for a detailed cost breakdown which will protect them from the last minute surprises.

Overlooking the Builder’s Reputation

A great developer will see to it that you get what you pay for on time, however for first time home buyers that don\'t know the drill many times they skip the due diligence which in terms they should do. We at Property101 advice that actually look at a developer’s prior projects, their reviews from other customers and also reports of projects they have finished in the past -- which is an easy thing to do that will save you from some serious issues in the future.

Ignoring RERA Registration

Homebuyers are to check that the project is registered with the Real Estate Regulatory Authority (RERA). RERA registration which is a requirement for developers’ legal compliance also brings in element of transparency into the picture. At Property101 we advise buyers to verify this at the official RERA West Bengal portal before you make any investment decision.

Not Checking Future Development Plans

Many people buy into a location for what it is now and not what it will become which is a mistake. We see that in infrastructure growth in the form of new metro lines, highways, or commercial zones which in the end raises property value. By looking at what is to come nearby you buy into a property that is not only great for living in the present but also does very well in the long term.

Forgetting to Clarify Amenities and Maintenance

Attractive brochures present a large array of luxury amenities but some may not be included in the base price. Before you finalize your decision ask which features are included at no extra cost and which require it. This simple question can save you from confusion and unnecessary expenses later.

Not Considering Resale and Rental Value

Even out of what may pass as a home for living, each property is an investment. In terms of resale and rental value they do well which in turn benefits first time buyers’ financial decisions. Also into local demand and also which market prices do put this purchase in a better light in the long term.

Skipping Legal and Delay Clauses

Many of the buyers that we see enter into agreements without which they are not aware of the terms related to construction delays or legal issues. At Property101 we advocate for careful review of the fine print and that which is put forward be the compensation clauses. A little bit of caution at this stage may pay off in the long run to avoid months of frustration.

Conclusion

For most people a home is a step in life not just a purchase. But with the wrong questions asked it may turn into a school for hard lessons. At Property101 we believe in the value of being well informed buyer which in turn makes you the best investor. Take the time out to really look at the what, where and why of the property this will help turn your first home into a source of joy not one of regret.

Your dream home is a place of present contentment not past regret which in turn begins with asking the right questions first.