Things Every First-Time Homebuyer Should Keep in Mind Before Booking Property
Buying your first home is a big step, and being well-informed makes all the difference. From checking legal documents and builder credibility to understanding carpet area and future growth potential, each detail matters.
Before booking a home, check the builder’s past projects, delivery timelines, and customer feedback.
Dr. Vishesh Rawat
Buying your first home is a major milestone that involves thoughtful planning and careful decision-making. Start by defining whether it’s for self-use or investment—this shapes all other choices. Focus on factors like location, budget, legal due diligence, and the developer’s credibility. While the process may seem complex, the right approach can lead to a secure and successful purchase.
Here’s what you need to know if you’re a first-time homebuyer.
Legal Due Diligence and Compliance Checklist for Homebuyers
Before you decide to book a property, make sure you go through the important documents.
Title documents – These documents prove that the builder owns the land and there are no legal issues tied to it. For example, the sale deeds and the chain of previous ownerships.
Project license – Always check that the builder has received the license from the DTCP for the development of the concerned project.
RERA-registered- Check if the project is registered with the concerned RERA authority. You may check the project registration on the RERA website.
Building Plan – It is important to check that the building plan and layouts are approved by the competent authority.
Occupancy Certificate- For a ready-to-move project, always check if the project has received an occupancy certificate from the competent authority.
Completion Certificate- In case of a completed project, always check if the project has received a completion certificate from the competent authority.
Encumbrance Certificate- This certificate shows that the property is free from any loans, mortgages, or legal disputes. It is important during home loan approval and property registration.
Bank-Approved Projects Offer Assured Due Diligence & Compliance
When reputed banks approve a project, it means it has passed key legal and technical checks. Banks verify the land title, project approvals, and builder’s track record before offering loans. If multiple banks have cleared the project, it’s a strong sign of reliability. For first-time buyers, this adds an extra layer of confidence and reduces the risk of future legal or financial issues.
Evaluate the Area’s Future Potential
Before finalising a location, assess the area’s long-term growth prospects.
Look into upcoming infrastructure projects, commercial hubs, schools, and other planned developments that could boost property value over time.
Invest in a developing locality that not only promises better appreciation but also enhances resale potential.
Avoid purchasing a property in stagnant or declining areas, as it may limit future returns.
Builder’s Track Record and Credibility
Before booking a home, check the builder’s past projects, delivery timelines, and customer feedback. Look for any legal issues or complaints on RERA. A trustworthy builder with a clean track record, timely handovers, and ties with reputed banks and real estate bodies offers more peace of mind. Avoid builders with repeated delays or incomplete projects. Verifying these details can save you from future hassles.
Project Development Partners: Why They Matter?
Professional, reputable partners with an excellent track record will ensure good quality project development. These development partners give shape to the vision and planning for the development. For example, a reliable construction partner ensures quality execution, and an experienced architect designs efficient and appealing spaces. Additionally, Project Management Consultants (PMCs) play a crucial role in planning, coordination, and timely delivery. The credibility and track record of these partners strongly impacts the overall success and quality of the project.
Understand Carpet Area and Super Area
Carpet Area-This is the actual usable space inside your home the area where you can lay a carpet, place furniture, and move around freely.
Super Area-The super area includes the built-up area plus a proportionate share of common areas—like lobbies, lifts, staircases, and corridors etc. This is the number most often used by builders in advertisements, but it doesn’t represent how much private space you’ll actually use.
Ready to Move Vs Under-Construction Project
A ready-to-move-in home is a completed unit where possession is immediate. There’s no construction pending, and the buyer can shift in right after completing the purchase. The biggest advantage here is transparency; what you see is what you get.
An under-construction property, as the name suggests, is still in the building phase and will be delivered after a certain period. These projects offer flexible payment plans, but they come with a waiting period and potential risks like construction delays.
Buying your first home is a big step, and being well-informed makes all the difference. From checking legal documents and builder credibility to understanding carpet area and future growth potential, each detail matters. With the right research and planning, you can make a smart, secure, and value-driven homebuying decision.
(The author is VP & Head of Marketing, Sales & CRM, M2K. Views are personal)
