10 things not to miss when buying a house in Vietnam

10 things not to miss when buying a house in Vietnam 7

Below are 10 notes that home buyers cannot ignore, according to analysis by personal real estate expert Phan Cong Chanh, general director of a real estate investment group in Ho Chi Minh City:

1. Consider legal issues

There are currently 3 types of documents when buying and selling a house: handwritten note, red book or pink book.

2. It is necessary to check the planning and do not buy a house in an area with suspended planning

Checking the planning may take you more time but it must be done.

To implement approved plans, people concretize them through projects and sub-projects.

Real estate in the suspended planning cannot be newly built, repaired or renovated, and must remain in its original state, so home buyers are very miserable.

Photo: CNBC.

3. Addresses of authorities for you to ask for information about land and houses

To check land planning, you must go to the Department of Natural Resources and Environment in the district where the property is located.

4. Pay attention to wall issues when buying a house

When buying a house, you need to pay attention to `private walls`, `shared walls` and `borrowed walls`.

5. Pay attention to neighbors

In addition to the fact that your neighbor’s lifestyle can affect your life, you should remember that the hardest house to buy is the one next door.

6. Find home buying and selling information from people around you

The best source of home buying and selling information is not in the newspaper, nor from the internet, but from the relationships around you.

7. Concepts about real estate can change over time

In general, people still prefer fertile land when buying a house, and it is easier to resell a mature house later.

8. Comparison is the easiest way to price a house

You don’t know the price of the house you want to buy.

9. Renting a house is not a bad solution

If you work in District 7 and buy a house in District 12, it takes you 3 hours to go back and forth a day.

10. Try before you buy

If you want to buy a luxury apartment but are still hesitant, rent it to try it out for 3-6 months.

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