Your home is probably the largest transaction and investment you will conduct during your lifetime and therefore it is important to consider its age and present condition before signing on the dotted line. An old building or a badly-maintained one, can cause a lot of problems once you have moved in and add to expenses. Also, frequent repairs and maintenance work can take a toll of your peace of mind and is best avoided.
Your home is probably the largest transaction and investment you will conduct during your lifetime and therefore it is important to consider its age and present condition before signing on the dotted line. An old building or a badly-maintained one, can cause a lot of problems once you have moved in and add to expenses. Also, frequent repairs and maintenance work can take a toll of your peace of mind and is best avoided. Speak to the building’s current residents before arriving at a decision, to get an idea of the number of times the building has undergone repair work, whether good quality paint has been applied to give it external support and other critical issues it has faced.
This will give you a realistic idea of what you are getting into and will also help you to evaluate your options. You can carry out a self-assessment on the external condition of the building and its overall appearance before speaking to the building’s managing committee or a society manager.The following questions will help you form the right opinion about the building before committing to buy it:
• Is there a regular maintenance schedule the building follows and what is the average maintenance amount spent on regular repairs?
• When did they last get the building painted and the brand of paints used then? Did they apply waterproofing paint in Thane to keep the exteriors and interiors well maintained? Check how many apartments in the building face a leakage or seepage issue to get an idea of the seriousness of the problem.
• Is preventive maintenance a priority for them or do they simply carry out impromptu work from an agency specializing in external waterproofing in Mumbai?
• Is there a dedicated team that check for repair-related issues and complaints received from the residents?This groundwork will go a long way in helping you to make an informed decision and will also save you from unnecessary expenditure in the future, thus turning out to be a sound financial decision.
