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Buying home in a developed area ensure safety and accessibility to transport, public facilities, and various infrastructure. Financially, Home is an appreciating asset whose value increases with time but is it true technically?
Answer is ‘No’. The quality of flat reduces with time. A typical flat/house is made up of various components like flooring, steel, concrete, paints, wooden work, plumbing, fire fighting, electrical, fittings, curtains etc. With time material used for construction starts deteriorating and problem starts incurring in flat. General solution to such problem is total refurbishment. But what if your budget doesn’t allow it or buying a resale flat is exposing you to much more risks.
Indian Resale Buying Industry
Most of resale deals are done through local brokers and known third person. While buying a resale home, we rely on the opinion and mediation of broker while knowing that brokers fee will increase with the higher value of deals. So broker focus on two outcomes while discussing with you
- they want to successfully close the deal by hiding bad home condition from buyers,
- they want to sell at as higher price as possible to resale buyers for good brokerage.
No home is perfect but problems are not shown to you before buying because of above two obvious reasons. Buying a home is not a arrange marriage where you can only know the flat only once you start living in. There are advance technologies available which you must adapt before closure of such high value deal i.e. Home Inspection.
Issues for Resale Buyers
There are lot of issues and confusions comes when you are closing a deal of Home which includes:
- Believing the Carpet Area/Floor Area as stated by the Broker
- Source of Dampness and Moisture in Walls
- Identification of Quality related problems in Home
- Unknown Plumbing & Electrical lines expose to risk of damages due to drilling
- Unknown RCC Columns location which makes nail drilling as damage exercise to wall finish
- Condition of Electrical Lines and Quality of Cables
- Procurement List of Fittings for new home
Home Inspection is Obvious and Must Have Services for Resale Buyer
If you need to know about bad things of Home you are buying then broker is not right man, use services of Home Inspector. They give unbiased advices to you with their latest equipment with less than 0.50% of Cost of your flat. Once you are known to all the issues you have two prime direct benefits:
- Transparent Information helps you in getting better negotiated deal much more savings than 0.50%. You have carpet areas and list of problems to discuss with seller.
- You know your home prior to living and can address all major issues before moving-in.
Home inspection is actually the third party which you are looking for advising on technical aspect of resale property. It is useful not only for home buyer but for any resale buyers of property. If you are closing a deal without home inspection, you are surely losing some bucks. In case you have closed the deal, know your home prior to moving with cheaper inspection options which helps you with problem identification only.