Chapter 1: Research the Property and the Area

KERALA LAND BUYER'S COMPANION HANDBOOK
Architect Shahdad Karim

PART I: Getting to Know the Property 

Chapter 1: Research the Property and the Area
Conduct thorough research about the property and the area where it is located.

Buying a home is one of the most significant investments a person can make in their lifetime. It involves a lot of careful consideration, planning, and research. It is essential to conduct thorough research about the property and the area where it is located before making any investment.

 

As a homebuyer in Kerala, it is vital to know that the state is a diverse blend of urban and rural areas. Each area has its unique charm and challenges, and it is essential to evaluate each area based on your needs and preferences. For instance, if you prefer a peaceful and serene environment, you may want to consider areas in the outskirts of the city. If you prefer city life with all its amenities, urban areas may be a better choice.

 

Conducting thorough research is essential to make an informed decision when buying a home. Here are some of the things to consider when conducting research:

 

1. Location

Location is everything when it comes to buying a home. It is essential to consider the accessibility of the property and its proximity to essential amenities like schools, hospitals, shopping centers, and public transportation. You may also want to consider the location's crime rate and the neighborhood's overall safety.

 

2. Property Value

It is essential to research the property's value to avoid paying more than what it is worth. You can research the property value by looking at the prices of similar properties in the area, consulting with a real estate agent, or checking property value websites.

 

3. Property Condition

The property's condition is an essential factor to consider when buying a home. You may want to get a professional inspection to identify any potential issues with the property, such as plumbing or electrical problems, roof leaks, or foundation issues.

 

4. Financing Options

It is important to research the financing options available when buying a home. You can research the different types of mortgages available, interest rates, and loan terms. You can also speak with a mortgage broker or financial advisor to determine the best financing options for your specific needs.

 

5. Builder/Developer Reputation

If you are buying a new home from a builder or developer, it is important to research their reputation in the industry. You can read reviews online or speak with previous clients to determine their experience with the builder or developer.

6. Legal Requirements

It is essential to research the legal requirements for buying a home in Kerala. You may want to consult with a lawyer to ensure that you understand the legal requirements and to ensure that all legal documentation is in order.

 

7. Resale Value

Even if you are not planning to sell your home immediately, it is essential to consider the resale value of the property. You can research the trends in the real estate market and the potential for appreciation in the future.

 

8. Homeowners Association

If the property you are interested in is part of a homeowners association, it is important to research their rules and regulations. You may want to consider the association's fees, restrictions, and amenities.

 

9. Climate and Weather Conditions

Kerala is known for its tropical climate, with high humidity and monsoon seasons. It is essential to research the weather conditions in the area where you plan to buy a home to ensure that it is suitable for your needs.

  

10. Natural Hazards

Kerala is also prone to natural hazards such as floods, landslides, and earthquakes. It is important to research the area's history with natural hazards and to consider the property's susceptibility to such hazards.

 

Conclusion

In conclusion, conducting thorough research is essential when buying a home in Kerala. It involves considering various factors such as location, property value, property condition, financing options, builder/developer reputation, legal requirements, resale value, homeowners association, climate and weather conditions, and natural hazards. By conducting thorough research, you can make an informed decision.