What Should A Person Consider When Thinking Of Buying A House?

. The person needs to have a realistic view of the costs involved. The potential buyer should add to the monthly house payments several other expenses, such as loss of interest from the cash used for the down payment, property taxes, insurance, heating expenses, water bills, maintenance and repairs. When these expenses are carefully calculated, the actual out-of-pocket cost of being in the house may be 50 to 90 percent higher than living in an apartment!
Of course, there are also arguments in favour of buying a house. The new home owner is making payments on something that he can eventually own. He may rightly argue, too, that apartment rents go up regularly, whereas now, with the exception of property taxes, he has reasonably stabilized his costs. Further, he may reason that with the spiralling inflation of the world's monetary system, the best hedge to protect oneself against inflation is real estate.
Another consideration that may weigh in favour of a house is the welfare of the children. The environment in the crowded atmosphere of many apartment buildings is not good. In fact, the owners of these often prefer tenants without children, and thus may not provide any kind of recreation facilities. While mother may have small jobs for her daughters around an apartment, many of the chores that provide such excellent training for boys, such as cutting lawns, shovelling snow and cleaning up the yard, usually do not exist.

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First thing the person should look after is

*)They should check that "the documents relating to the house are not duplicate"

*)If the seller is the direct owner of the house you need to check the genuineness of seller alone.If not they should look whether the seller is a genuine person and the agent who helps selling between you and actual selling party is genuine or not ?

*)Have to check whether the property is first hand or second hand or third and so on? If second hand and above , have to check the original sale deed from the buyer who bought the property?

*)Also have to check the cost with current market rate and should do all transactions through bank only i.e. paying through check,DD,etc.. to ensure the payment confirmation.

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