Investing in a new venture is something that will always be a bittersweet experience. Even the most trivial decisions such as what color of socks you want to buy or what flavor of yogurt you want to have for breakfast. Well, buying yogurt and a house are two completely incomparable examples, but think about it. And we will go forward with the yogurt analogy. So imagine you are used to buying blueberry yogurt from a fixed brand every morning for the last three years of your life. One morning, you run into the departmental store and find that they are out of it. Now there are still other flavors available and perhaps more than before, but you do not find the blueberry one. Now the dilemma that you go through in that minute, multiply it maybe fifteen times and that is how you feel when you are about to invest in something as big as a new property.
It is the uncertainty that comes with newness. To be very practical, things have a fifty-fifty probability of going downhill. So what are the things that can go wrong when you are about to buy a new house?
Here are they:
- The area promised might differ from what you will be delivered. A lot of proprietors do oversell properties and mark higher numbers on their advertisements. So you are in for a little surprise if you make a bad deal and ignore these little details like the difference in carpet area and floor area.
How to avoid it:
Always make it a point to question and know about the carpet area of the apartment that you are buying. For instance, the affordable housing projects in Gurgaon offer the transparency needed in terms of the area of the property. So do your research and rather than going for the most flattering options, go for the ones that will tell you the truth.
2. The walls or doors might not be strong enough. Durability is something that can easily be fabricated by the sellers. It is only after you have spent enough time in the house that you really start to see it. Chances are, you will not be able to do anything about it then because it is either too late or the builder is not taking ownership of the mishap.
How to avoid it:
Before buying a property also, look into the builder’s history and track record. Look into the previous projects that they have worked on and how the product was delivered. You need to have an honest and coherent conversation with your agent about such problems that might arise later.
3. The wiring may be problematic leading to failed circuits. There have been many cases where the buyers were not warned about what they were signing up for. The circuits of the house may start to act up after a while leading to damage of electrical appliances or fatal accidents.
How to avoid it:
Test the wiring and plugs well before you make a deal. Talk to the people already living in those areas and about their experiences. Make a mental note of electrical appliances that you have or you may purchase and do a calculation of the watts they will be needing to function. Ask your builder if the house will be able to support it without causing any damages to the appliances or the people using them. Run testing of the switches and plug points as much as you can before buying them.
4. There is a chance that you spend a good amount of time in a flat and only after a couple of months do you realize that the walls leak and there is seepage. This can be due to a washroom upstairs or monsoon. And sometimes it requires a lot of proofing yet remains unfixable. This might ruin the look of your house and also take a good chunk out of your pockets.
How to avoid it:
Remember to talk about the maintenance facilities and amenities provided by the builders. Some projects like MRG Word that fall under the affordable housing projects of Gurgaon, offer free maintenance until five years after buying the property. Such amenities build faith in the customer’s mind and relieve them of the constant worrying.
5. Sometimes sellers tend to scam the buyers by selling the same property to multiple people. You wouldn’t even realize on one Sunday morning, when you are having your morning tea on your balcony after you have spent 3 years in it and you see random strangers knocking at your door, claiming the house with original papers on it.
How to avoid it:
When you are signing the papers, make sure you have the original papers. Read each and every line thoroughly and if possible, have a lawyer look into it. Always deal with trustable buyers who have a transparent and spotless record. If you find missing pieces or nothing about their past projects, maintain a distance and move on to a different seller.
Ignorance of minute details might lead to an unsatisfactory deal. You have to be thorough with the paperwork and be strong about the amenities you want. Sure, there are concessions that people tend to make if they find a very good deal but if it sounds too good to be true, it probably is. It is also your responsibility to be informed and educated on the subject. If we talk about transparency, the projects falling under the affordable housing projects of Gurgaon and Huda City have some really exciting amenities. They follow the RERA guidelines and believe in customer’s long-term satisfaction. Make a note of things that are important to you and you prioritize over other needs so that you know where to be firm and where to let loose a little. Being prepared is always going to be of help. It indeed is not as trivial as a flavor of yogurt.
Also, read our blog on Why you should prefer buying affordable flats in Gurgaon.