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Buying House and Land Packages – Some Factors Worth Looking At
Home and land packages for sale are very common these days. At some point, your responsibilities to the builder are non-existing and sometimes you do not even get to see inside the house until you get to move in. You will only get to see the display, colors, and quality of the building. Nevertheless, the good thing about buying a house and land package is that you put a deposit to show your interest and then you sign a contract.
When you and the lender agree on your contract and sign it, you will be required to make some deposit at that point, and chances are you may not have to make another payment until you move in. Thus, there will be no progress payment, and that makes it a very easy process. Before investing, it is important to house and land packages for first home buyers to understand how the process works. Here is what to look for when buying house and land packages.
Factors to consider
When shopping, it is imperative to look into the property of the property yo intend to buy. Ascertain that it has no legal issues pending in court. You also need to check if the land is non-agricultural land, residential or industrial zone because what you need is a home/land package that is in a residential zone. For a land package, you must check the most crucial document, and that is the 7/12 extract, individual. This will help you to authenticate if the land is legit or a fraud.
Search history report
You must check the property ownership history of at least the past 30 years. Ensure that the municipal authorities document the home or land package and that it is ready to be occupied. Make sure to do your research first in and around the property in order to ensure that there is proper space left for roads, open space, and other amenities or else you will be required to sacrifice your land in the future.
Another thing to look for when buying a house and land a package is safety. If you are investing in a house or land packages situated in a remote area, you need to go for a developer that provides quality maintenance and 24/7 security to avoid encroachment. Ensure that the house/ land package is well protected and is easily accessible. Accessibility or nearness to transport infrastructure will also increase return on your investments
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