We see many industry experts talking about standard guidelines to follow when buying or selling property like doing enough research, hiring a real estate agent and price negotiations but is it all you need to crack a lucrative property deal? We think there is more to it.
Assotech Limited as a real estate company wants to accompany you on your house hunting or selling spree by sharing some valuable information on how to buy or sell property in Delhi, Noida or Gurgaon area. Following is the list of few pitfalls or mistakes that we encounter frequently but fail to notice. Also, find our suggestions to fix these mistakes:
Common Buying Mistakes
Spending less time on property inspection
When you buy a new home in the national capital region- Delhi, Noida and Gurgaon, it is easy to rush into a purchase if you like the house at your first visit. A perfect home is like cooking a perfect recipe. You need all the right ingredients. The final purchase cost of your new house will also include extra repair cost that you need before moving in the house. We often overlook the additional cost that comes along with monthly/annual taxes, maintenance costs or remodelling. Your real estate agent may make sure you get the property of your choice but to look into the minute details is not his/her priority.
Solution: Hire a construction expert for property inspection to get an idea of repair or remodelling costs. Get a consultation on house structure and foundation. Speak to your seller about taxes, utility estimates, development dues (if any). Know the neighbourhood by speaking to people who live nearby the property. Take out time to visit the property during the day and night time. It will make sure you get no surprises after you move into your new apartment in New Delhi, Noida and Gurgaon.
Exceeding your allowed budget
If you have been looking to buy a home in Delhi, Gurgaon or Noida area, you probably know this feeling. We always find that “pricey” house to be so appealing over what we should buy. Isn’t it? Well, who doesn’t like a little more? Buying a home at an increased price, then what you can afford, can land you in an awkward position. It can derail your family’s future by making it hard to suffice other significant expenses in the coming times.
Solution: Don’t get tempted by the “perfect home” upgrades your real estate agent shows you, make sure he understands your budget. Stick to the amount your bank has pre-approved you. They take in account your financial capabilities to repay when deciding a borrowing limit. It will prevent you from facing any potential financial crisis.
Common Selling Mistakes
Not prepping your home/property for sale
When someone decides to sell their property/homes in Delhi-NCR area, they often don’t want to invest any more time or money in it. It is evident that a well- maintained house sells reasonably well as compared to the houses that go on sale without any fix or preparation. By not preparing your home for the buyers/ real estate agents you decrease the chances of getting a lucrative deal and prompt response.
Solution: Keep some time aside before the sale to make your property more appealing. Start by getting the house cleaned and minor service issues. We don’t suggest spending too much money on it but identify small fixes that make a positive change.
Sticking to only old ways of selling
Traditional classified ads don’t work anymore! When selling an apartment in Delhi, Noida or Gurgaon, you need to reach the real target buyers. Most of the people who are look to buy property in the area are more familiar with modern marketing channels like online listings and real estate mobile application. This way you will be able to reach more interested buyers and sell property sooner.
Solution: Best way to reach to the majority of home buyers in Delhi, Gurgaon or Noida are, try listing your property on real estate websites that lists several apartments in Noida, Gurgaon and Delhi area. Also, you can try using high-quality photos, videos and virtual tours of your property to reach potential buyers.
The struggle of selling or buying a home comes with its constraints, but if you make some smart decisions, you will be able to close the deal without any hassle. We hope you will take into account these four common oversights before buying or selling your home.