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.
