7 Things to Keep in Mind When Buying Home

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7 Things to Keep in Mind When Buying Home

7 Things to Keep in Mind When Buying Home

Buying a home is a trying and complicated process.  It’s a moment when you are thrilled, anxious and many a times in a rush. You look at some properties and one of those properties give you that feeling of “Yes, this is my dream home”. You may get emotionally involved with the property and every different perspective looks just fine to you. By getting into the whole procedure, which goes from booking, initial installment, to settling home credit, one can take a hang on the property. To make the process easy while decision making and buying, here are the 7 essential factors you can’t afford to overlook:

  1. Reputation of the Brand/Builder

Before you buy a Property, it’s significant to have a look at the builder profile and his overall history. How many projects he has already delivered, has there been any delays in the project delivery, will you get the possession on time or has the builder have any legal issues lurking? It is vital to see the red flags before buying any property. You may get to know more from your property agent or you can look up on the net to dig deeper. See what people are talking about the project, builder, and the property.

  1. Location is the Key Factor

Finding a perfect location is one of the key components for buyers before actually going in for the purchase. This procedure is time-consuming and needs an all-round research, as it will be a once-in-a-lifetime purchase for many. Majorly what you need to keep in mind while house hunting is the road connectivity, hospitals, schools, colleges, workplace and recreational areas which should be close by. Also, the property should be free from possession issues, safety, etc.

  1. Rental Potential

A lot of times, people give their property on rent and move to some other location. At that time, if you realize that the property is not that attractive from the rental point of view, you will regret your decision. This may not be a deciding factor in your decision, but having a good value of your property will always be a plus. Tenants do look for a complete package, such as location, apartment size, and facilities, and if your property offers all of that, then there’s nothing to be stressed about.

  1. Amenities Offered

Today, amenities of a project are a deciding factor for many home buyers. You should check what kind of amenities is offered along with the property. Amenities like clubhouse, parking, lift, power backup, swimming pool, gym are some of the basic amenities every project should have. Now you might be a simple person who wants minimal things, but if you want to make sure the property has very good resale potential, you might want to look at these things. After all, all these things will matter to you or people connected to you and if not anyone, maybe the next buyer from you will look at all this.

  1. Loan eligibility

Home loan eligibility depends upon the repayment capacity, income, existing loans or debts and age of the loan applicant. The lending company or banks provide online services such as Home loan eligibility calculator to calculate loan eligibility of the home loan borrower. The maximum loan that can be sanctioned varies with the banks and the eligibility criteria may vary according to the bank or RBI regulations.

  1. Stamp Duty & Registration

This is an important expense or tax, much like the sales tax and income tax that is collected by the Government. When planning your budget for property buying and deciding to buy a property, you need to know the rate and charges applicable in your city. If you want to know the market value of your property and the stamp duty amount on it, you need to contact the Ready Reckoner to locate your valuation zone and sub-zone. Find out the stamp duty amount applicable to you as per the market value.

  1. Construction Quality

When you go to look at properties, check the construction quality. Check the walls, their overall look and feel, and the finishing. Check the wiring, fitting, tiles quality etc. If it’s an under-construction project, the only option you have is to search on internet about the builder and its past project experiences and what previous buyers are saying about it.

When looking to buy a budgeted and luxury home, think Avant Heritage, a project to suit all your housing needs. Located at Mumbai’s established suburb Jogeshwari East, with close proximity to JVLR and Western Express Highway, this project by Avant Infra is the ideal residential property for home buyers and investors.  You can choose from premium 1, 2, 3 BHK apartments to 4 BHK Penthouses overlooking the expansive Aarey Colony. This project will surely take your lifestyle to the new heights.  Avant Heritage offers you the modern amenities such as Video door phone, Intercom, High-Speed Passenger and Stretcher Elevators, 24*7 powers back up for common areas.

 

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