First-Time Buyers? Check this out..
For many, buying a home is a dream. And if that suits all your needs, then there is nothing like it. But how do you know that is the right home for you?
Here we give you a checklist of about 10 points that you can tick off, just
find your dream home!
Point 01.Cost:
Decide what your budget is. And then see if the EMIs are ok with you? Post which you can decide on the property.
Point 02. Affordability:
Can you afford all the amenities that your house demands? At this stage, are you willing to firk out all that money?
For other first-time buyers, affordability is a key issue. These buyers are looking to work with sellers who are willing to pay for at least part of the closing costs of their mortgage loans.
Point 03. Location:
What is your main consideration in terms of location? Closer to schools, offices, hospitals, shopping complexes, restaurants, entertainment facilities? Check them out before deciding.
Nearly everyone has to compromise on location, size or style to find a suitable home within their price range, so think about what you’ll give way on – and what you won’t. For example, ask yourself whether you could cope with moving out one zone to get an extra bedroom – or would you be willing to buy a 70s flat rather than a period conversion to live in a coveted postcode.
Point 04. Specifications:
What is the kind of house you want - 1 BHK, 2BHK? And what are the kinds of materials and amenities within the apartment or apartment complex? Check them out.
First-time buyers ask about construction specifications and warranties and research the reputation of the builder before making a decision.
Point 05. Planning for the future:
Is the home that you are buying scalable? When there are more members, will the house sustain. So this should not only be an investment, but a thought decision.
Even if you believe that you may not be considered for a property at this stage, it would be beneficial to know the basic information so that you can find out more about how the property market works, what financial assistance may be available and what you have to do, to be considered for a property in the future.
Point 06. Construction timelines:
Know the timelines when your builder is ready to give you your house. Always keep deadlines and timelines in mind, as to whether it suits your requirements.
Purchasing, building, designing, or renovating a home is an amazing experience; yet it is one that requires planning (financial and otherwise) and professional leadership and representation so that the process goes smoothly, according to your timelines, and within your budget.
Point 07. Reputation of the builder:
Your builder should have some valid testimonial. Is he known in the circle? Does he have constructed properties to his name? Check them out.
Most first time home buyer's are so excited, they just don't slow down enough to listen and most real estate agents steam roll right to the closing table to collect their commission check. So, you must inquire about the builder's experience and reputation.
Point 08. Documentation:
Are all the documents in order? Consult a legal expert before you sign on the dotted lines.
Preparing for a mortgage starts early, so make sure your documentation is in order. Have a lawyer review the building contract document.
Point 09. Home Loan Providers:
Are they accredited providers? Have you read the fine print for getting the loan? Have you understand all the components in the agreement? And have you studied the interest rates across providers?
There’s no point blowing your budget to get the place with the gourmet kitchen, if crippling home loan repayments mean all you can afford to eat is instant noodles.
Point 10. Are you sure of what you are getting?
Have you asked builder about all that is covered and all that is not? The brands that is using? The fixtures? Ask for all of them before you go ahead.
Getting on the property ladder isn't easy. Finding housing can be a very difficult task for first time buyers. However this is made easier by checking out the local magazines and scout listings on property up for grabs.
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best residential property deals in India from
PdotG. Apartments for No Compromise Lifestyle.
You are buying a dream home. Make sure that is just the way you want it!!
