BEFORE YOU BUY A BUILDING (HOUSE etc)

Many people think it is a hassle free exercise to build own house from sketch than building one. It is probably true in the following five (5) ways

1.  You can immediately occupy the house just after the sale.
2. No need to look for professionals to help in the planning and production of building plans.
3. No hassles for managing construction and council issues
4. If one buys a properly design house it can give immediate satisfaction.
5. Immediately one can get means of collateral security for future investment.

How ever they are also 5 dangers of Buying a structure.

1. It is always expensive to buy because sellers will always put mark up plus government tax.
2. People will usually sell properties because of structural failures to dispose of risk. (BE WARNED)
3. Usually structures sold would not be to your taste.
4. Existing structures are usually difficult to modify due to different materials.
5. Buying a structure at once ties down capital immediately that could have been used to generate income somewhere and the profits used to finance the building.

WHAT YOU SHOULD DO BEFORE BUYING A HOUSE

1. Engage architect to do condition survey (to ascertain the structural strength of a the house and allow the estate valuers to give a value based on structural integrity and other values
2. Verify title deeds or cession titles their authenticity from deeds office or respective authorities.
3. Always engage a reputable lawyer for the transaction.
4. Make sure all contracts are handled and administered by a lawyer.

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