1. What are the benefits of owning a home?
Ans) Becoming a homeowner have many benefits such as ownership of the property, tax deductions for property taxes and mortgage interest, the power to renovate your property, more privacy and space, and a better sense of security.
2. What is the first step to buying a home?
Ans) The first step to home ownership is to find a realtor who has a wealth of experience with first-time buyers. He should understand his client’s needs and wants and help them with real estate transactions from beginning to end.
3. What steps are involved in buying a home?
Ans) Pre-qualifications for a loan, if required, are finding a home, offer, negotiation, acceptance, removal of contingencies, and closing. This is generally a lengthy process, but a skilled realtor gets the job done real quick.
4. What things should I look for in a home?
Ans) Look for features that you need or want to live a comfortable and stress-free life. It depends on your lifestyle and preferences.
5. What is the property market value?
Ans) The price at which a property can be sold in a competitive market is based on its features and other benefits.
6. Are there any benefits in converting a leasehold property to a freehold one?
Ans) Many benefits: You can become a full-fledged owner by acquiring the sale deed and registering it. A freehold property offers better marketability and can be sold or kept for standing security, which you cannot do with a leasehold property.
7. What is the Valuation of Property?
Ans) The evaluation helps evaluate the market value of a property after considering factors such as demand and supply forces running in the market, location, type of property, quality of construction, local infrastructure available, maintenance, and others.
8. How do you calculate maintenance charges?
Ans) Legally and ideally, the area owned by an individual is the basis for the calculation of maintenance charge.
9. How do I sell my home?
Ans) You need to consult a realtor working in your area to evaluate the property and find its market value. They will also help you find potential buyers for your property and set up a meeting with them to help you sell your property.
10. Can I sell my home without hiring a realtor?
Ans) Yes, but you will face a lot of difficulty in selling your property at the best prices given it is your first real estate transaction. A realtor knows all the ins and outs of selling properties and will find you the best deal.