Many people are now considering second-hand houses for residency due to the high cost of new homes. Interestingly, the benefits of a second-hand house can rival those of a new one. Moreover, second-hand homes offer investment opportunities or the chance for buyers to renovate according to their preferences.
How to Purchase a Worthy Second-Hand House?
To ensure value for money, it's crucial to examine the house in detail. Here are key aspects to focus on:
Land and building status
Building size
Condition and maintenance of the building
Construction materials and quality
Ownership verification
Key Considerations for Second-Hand House Buyers:
1. Land and Buildings:
Prospective buyers should inspect the land on which the building is constructed, verify the title deed and house number to avoid legal complications with land ownership. For houses built on leased land, it's essential to review the lease agreement's duration and terms, ensuring protection against potential disputes over land ownership.
2. Size of Buildings:
Measuring the utility space of the building is crucial for pricing estimation. Buyers should bring a tape measure (ranging from 20-50 meters) to calculate the total area in square meters, considering the dimensions of each floor.
3. State of Buildings and Preservation:
The condition of a second-hand house varies based on its age and how well it has been maintained. Depreciation rates or necessary repairs can influence the house's value. Hiring a technician to estimate repair costs can help determine depreciation and enhance the property's condition.
4. Material of Construction, Construction Quality, and Craftsmanship:
Assessing the main structural materials, construction quality, and craftsmanship is vital for valuing the property. The choice of materials and the skill level of the technicians play a significant role in determining the house's overall value.
5. Proprietor of Buildings:
Verifying the ownership of the construction is crucial. Buyers should request evidence of ownership, such as sale and purchase documents or, for new constructions, the application for construction permits, which can serve as proof of ownership.
By carefully considering these factors, buyers can make informed decisions and invest wisely in a second-hand house that meets their needs and budget.
Acknowledgment: This guidance is based on insights from "House Sale and Purchase for Investment" by Teacher Anucha Kunwisut and Home2nd.com, offering valuable knowledge for those interested in the second-hand housing market.