“Home is the Nicest World there is”
A house of bricks and beams can be a home of hope and dreams if the process of home ownership is carried out meticulously. It surely brings with is a sense of financial affluence and emotional security to the owner and family. This is because if real estate is invested in carefully, it cannot be stolen, lost or taken unless you decide to do it. If it is purchased with common sense, paid for in full and managed with reasonable care, it is considered to be the safest investment of all.
However, if this process is carelessly carried out, you may risk you lifetime’s saving and losing everything sooner or later. And surely none of us would want to face such consequences, therefore, following tips will help you make your property buying decision making simpler and sorted.
Budget- It is very important to know your own budget very well before going out buy a residential property. Budget properly so that you buy only what you can afford to pay off in the long run. For instance buying 3 BHk apartments is better than buying a pent house if budget does not allow to buy a pent house. The banks need to check your financial standing before they sanction a loan and accordingly make the EMI’s. If you apply for a loan amount which is more than what you can comfortably pay then your monthly expenses would be disturbed making you feel burdened. Make your budget to buy a new residential property depending upon your income and prospective hike you expect in it over the next few years.
Research – Once the budget to buy a new home is decided, it is time to begin your research. For this you can use mediums like newspapers, journals, internal portals, meeting local real estate agents of that area and of course talking to the other people already residing in the new area. The air of this research is to find out all about this area including price trends, electricity and water supply, kind of populations, developer’s reputation, additional amenities etc.
Don’t Compromise- When you are spending your hard earned money on this deal, make sure you meet your aspirations and do not compromise on anything if you can afford it. Some of the good developers offer wonderful deals with additional amenities which enhance the value of the money invested. For instance Brigade Northridge has State Of The Art Township, which has been beautifully landscaped and loaded with facilities like clubhouse with gym, swimming pool, cricket practice pitch, golf putting green, yoga/meditation deck and a senior citizen’s court. Apart from all these lifestyle facilities which tend to make your life more interesting and active, good residential projects also offer car parking which is one of the most important aspects.
Do not Dominate the Deal- It is fine to feel thrilled and more confident carrying out the deal on your own, but if you do not belong to this industry professionally do not try to behave as if you are the silos of knowledge. Hire a real estate agent instead or follow the instructions the developers team try to assist your with. Since they deal in these daily, they have a better understanding of the compliances and taxes which are compulsory to follow.