What are the Points to Consider When Buying a Housing? (Part 1)
Legal Assessment
- Does the house have a title deed? (Find out whether the title deed is on a single person or has multiple partners; usage right usufruct.
- Is there a mortgage or foreclosure decision on the house?
- Have you reviewed the building’s management plan?
- Have you learned the property ownership and floor easement features of the building? expert support is required.
- Does the building have a building license? (Having a license for a building means that the independent housing units in the building also have a license! Be careful about the compliance of the projects and explanations in the title deed.)
- Does the building have a permit for use? (If the building is under construction, make sure that it is suitable for use.)
- Has the building been converted to residential use for electricity and water?
- If there are parts of the building such as shops and warehouses reserved for commercial purposes, have their intended use been determined?
- If you are buying a house with a tenant in it, have you reviewed the lease contract?
Economic Evaluation
- Residential ground strength, level of completion, age, title status, license, usage permit, whether there are illegal additions, etc. Does it meet the conditions for obtaining bank loans? Expert support is required.
- By learning the terms of various banks, maturity, monthly payment amount, total payment, loan term, etc. Did you compare it from plaster? expert support is required.
- Is the average rental income in the area where the residence is located acceptable to you? Consult your neighbors and local real estate agents.
- Have you considered the impact on your budget of the parts and devices that require modification, maintenance, repair and renovation in the house?
- Do the average living expenses in the area where the residence is located require you to compromise your living standards?
- Are the heating / cooling costs of the house from previous years acceptable to you?
(You can get an idea by getting the bills of previous years from your neighbors. A high heating cost may mean that there is not enough heat investment in the residence.)
- Are the average dues of the house acceptable to you? (Find out how the contribution to the expenses of common areas is calculated.)
- If you are buying a house under construction, do you get information about the reliability of the seller, its financial condition and the properties it has sold in the past? (Are you sure that the residence will meet the promised time, cost and quality conditions?)
- Unpaid property tax of the residence in previous years, etc. Did you find out if he has debts?
- If the fixed electrical, electronic and mechanical devices in the house break down, can you easily renew or maintain them? (Do not forget to ask for the warranty documents of such devices.)
