Buying property is one of the biggest financial steps in life. It requires attention to detail, patience, and planning. Here are common mistakes that buyers make—and how you can avoid them:
1. Not Verifying Legal Documents
Many buyers skip checking the legal status of the property. This can lead to major complications later.
Make sure the property has a clear title, and ask for documents like the sale deed, land tax receipts, encumbrance certificate, and approved building plan. Engage a legal expert to verify everything before making a payment.
2. Underestimating Total Costs
The property’s price is just one part of the total cost. Don’t forget to include stamp duty, registration charges, brokerage fees, legal charges, renovation costs, and society maintenance fees.
Ask for a complete cost estimate from your agent or builder before committing.
3. Skipping Property Inspections
Never buy a property without visiting it in person. Check the condition of the building, walls, plumbing, electrical systems, and parking facilities.
Visit the property at different times of the day to assess the locality, noise, and traffic. You can also hire a home inspector for a professional opinion.
4. Ignoring the Seller or Builder’s Reputation
Research the seller or builder thoroughly. For new projects, check their past record—delivery times, construction quality, customer reviews, and legal clearances. For resale properties, find out the reason for selling and any pending dues.
5. Not Reading the Agreement Carefully
Always read the sale agreement word by word. Understand the payment terms, delivery schedule, cancellation policy, and any penalty clauses.
If anything seems unclear, consult a property lawyer before signing.
Buying a property without proper research can turn a dream home into a nightmare. Avoid shortcuts and do your homework. Every decision—from choosing the location to finalizing the paperwork—should be made with care. A well-planned property purchase will bring you peace, happiness, and long-term value. Think long term, plan smartly, and ensure your hard-earned money is invested in the right place.
