“Just remember, when you’re over the hill, you begin to pick up speed.”
― Charles M. Schulz
One day you wake up and realize you are not a child anymore. You can no longer be dependent on your parents. If you too feel the same agony, then you are in your 30’s or almost there.
With wisdom comes knowledge, with wisdom comes responsibility. With the growing age, you can no longer be irresponsible. So, pile up before it’s too late. There is lot much for you to decide and plan. Real estate investment planning is one such thing and ‘owning a house’ is most important of that.
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Let’s be objective, you will soon turn to your 30’s, so it is pivotal to inherit a property soon. Maybe two to three years down the line, you will get married or quite possible you are doing family planning, so it is almost a necessity to own a house.
There are several reasons on why you should own a house in your early 30’s but the most obvious reasons includes the gratification of ownership. Other than that there is, of course, the tax benefits you can reap. Homeownership offers the complete freedom to create the living environment. You can even own pets, paint whatever color you like, make changes to floors and interiors.
It is immensely important to own a house, but so is choosing the right property. There are some common prerequisites on how to make an investment in the right property. But most importantly, the task is to find what type of property ownership could serve your purpose, the best.
The points and representation below, suggests some of the things that you must consider, before or while investing.
Elementary of searching:
While searching a property, there are few factors that we must not overlook which includes security, property value and its resale value. Everyone wants a secure environment and it is almost compulsory as well. Other than that the location of the property, its scope in the future and surrounding areas are also important points of consideration as it will finally contribute to the resale value of the property.
Other than these three important factors, there are other several factors, which are given below:
Factors To Consider:
Described below are some basic factors and insights about them that you could consider before investing in a housing property.
- Dependency: It is pivotal chalk out the number of people dependent on you while looking out for a housing property. To be precise, you need to have a clear estimation of how many people would reside on the property that you are about to buy. It completely depends upon your need and want and the number of people dependent on you. Therefore, decide on whether you want a multifamily property, duplex or a single apartment.
- Energy efficiency: Recent development in construction technology have made it possible for home builders to live in an eco-friendly environment now, more than ever. Houses made of eco-friendly material are made of natural building materials such as wood, dirt straw and clay-bricks, which prevent further pollution thus enabling a sustainable lifestyle. This would really help your house life cycle over a long period of time.Green energy products are lighter, thinner and stronger to use. Green materials are safer for the people living in the homes too. Eco-friendly houses are highly energy efficient. Energy efficiency is an important criterion owing to rise of pollution around the world. A smart decision could help achieving a smarter future.
- Neighbourhood: When you are investing in a house to be specific you are almost investing on a neighbourhood. After buying a house, you neighbourhood will be there with you for a long run. Before entering and signing for a new house, it is important to clarify on what type of community you are getting into. Factors such as the position of the house, that is if it’s surrounded by trees, other homes or terrain. Other than that factors such as crime around the locality, walkability, community’s character are very important factors to consider before investing in a housing property.
- Security: When it comes to security it’s about the safeguard of individual freedom around the locality. Before you get involved in investing in the home-buying process, do not forget to check out the crime statics in the neighborhood. A lot of this information is available online, if possible, you can contact with the local police station of the area.
- Current and resale value: Choosing a home to buy involves more than just finding the right place to raise a family. It is a new chapter of your life. That’s an investment you want to grow in value in future. For getting best resale value someday, you will want to consider a number of factors, such as the location, its size and condition, the number of bathrooms and the layout. A future buyer might see a home with a different aspect then you, what might seem cozy room to you might appear a small room to another buyer. But the location is the most determining factor for current and resale value.
- Location: While searching be sure of the availabilities of the locality where the house is situated. Is it a residential area that you want? Do you want to stay a few kilometers away from the city? These are few important questions that you should be asking yourself. Noise and traffic around the locality, availability of schools, public services, transport, these should be clearly estimated and looked upon.
- Interior and exterior: One of the most important steps before purchasing a home is inspecting about its condition, that is both the interior and exterior condition of the house. Factors such as the condition of the basement, plumbing, electricals, chimney, ceiling, walls, floors, doors and windows must be duly inspected.
- Driveway length: Driveway measurement is pivotal for your house layout design. The standard driveway width for a residential home varies from 9 feet to 24 feet. The width of your driveway will vary based on whether you need a single car drive or you need a double car drive. The width may also change to accommodate parking or a turn-around. These all points need to be checked upon
- Availability of parking: If you own a car than this must be an important point of inspection. Check whether car parking will be provided or do you have to pay extra for it? Check with the seller of the apartment whether his slot will be made available to you.
- House orientation: House orientation plays an important role in how big your bills are. A well-oriented house is created to make the most of what nature gives us which allows increasing the energy efficiency of a house. Geography and direction are two most important points of consideration in this regard.
Oh! the pride that you feel when you own your own home. Searching holds the key, it’s your first important step and the most crucial one while investing in a real estate property.
It really comes down to individual choice on how one has planned for his future and how soon, he intends to fulfill them. The choices may vary from person to person but the basic need and want will remain the same. Invest carefully!
Curated by a Building Expert from Wienerberger India
For an expert advice, drop a word at our email id firstname.lastname@example.org