Chennai, the capital city of Tamil Nadu is one of largest city in India.Chennai however has experienced a slowin the real estate market in recent years. A discussion with local realtors and agents will give you a clear picture of the dropped real estate in the city.There hasn’t been much growth and all existing properties are already occupied. Finding a place to rent in such conditions in Chennai is likely to be a difficult task.
Selling or buying a home could be a hard task, particularly when you’re doing it for the first time in your life. As a general rule, people usually end up committing lot of mistakes, which make this process more tedious. Here’s a quick look into 9 common mistakes you should avoid while buying or selling your house.
Decor Is Not Everything
If the decor of the house is awesome, then it is a plus point for you. You also need to consider other things like exterior, size, range, and year of construction to buy the right property. Don’t just pass by the style alone; consider the area of the property, accessibility to amenities like hospitals, schools and departmental stores, business locales, and real offices.
Citing an Unrealistically High Selling Price
As a home seller, it is significant to do your ground work. To create a deal value, check out the price of local houses, which were previously sold or bought in the area; in this way, you can be realistic with the transaction and both the buyer and seller won’t feel cheated about unrealistic pricing. So, remember to do your home work well.
Purchase What You Need
Look at your present home and scribble down what things are lost in the picture. Approach your agent to shop for those things. On an average, Indians live in a specific house for around 10 years, so take a look at your future requirements for 10 years down the line. For example, in case you’re a recently married couple, a 1 BHK house will suffice for now; however, 3-4 years down the line, you may look forward for a children’s room or even a visitor room, so don’t settle on a 1BHK condo. Having said as much, it might be an extreme issue for you to purchase a costly 2BHK house, so you may need to consider a sensibly estimated 2BHK flat over a somewhat-overpriced 1BHK unit.
Be Careful with Additional Costs
There are so many variety of expenses included, which are not put down in the paper. You need to manage them some way or the other with the passage of time. Take as much time as required to record each one of those expenses and afterwards add that to the first cost. It can be a grave mistake if you overlook all those prices because in the end it’s your pocket that will get affected.
Don’t Go Gaga for One Type of Property
This is one of the fundamental mistakes numerous home purchasers commit; don’t be dependent on one kind of property.
You might get a good or a better deal from another source and you might not know about it. Always be open to see all sorts of properties. If you are looking for a flat, you should check out bungalows nearby that area. You may never know when you will get a good price for the same thing.
Finally, it’s your money and pocket that will be affected, so you have to chose the best of the best plan from which you can maximise your profit