Today uncountable new residential projects are coming in the areas you may or may not know. All around you can see the fast development of residential projects with all possible amenities. You may find yourself confused or someone may suggest you do not think too much as you will miss the opportunity and the price will increase. But it is not a good thing to take once in a lifetime decision and invest a good amount of your earnings without giving it a proper thought. After all it is your money and it is your future with which you should not make any compromise. There are several crucial factors that affect your decision of buying a home. You should consider each one very carefully before putting your hard earned money in any residential project. Yes it is quite a stressful job to put your head in details and understanding everything along with your current job but you know this is important and you will enjoy its fruits in future when you will have nothing to regret but everything to enjoy. Never take it as a child’s play as you cannot amend your decision once you did the registration of your property.That is why be wise and listen to only your mind instead of surrounding people’s free advice.
- Try to find your dream home closer to your work place in order to save commuting time. Proper public transport must be checked in the area.
- Do not buy a home that is very expensive and out of your planned budget as it will give mounting stress to your monthly budget and thus a struggle to manage monthly expenses will start.
- Check the standard of schools and health care facilities in the area so that you won’t need to struggle for such things. Your kids won’t like to spend hours in commuting from school to home.
- Instead of visiting several projects in different areas it is advisable to list out your requirements like location, budget, required size and rooms in the home, proximity from workplace, schools and shopping centres, transportation facilities, etc. It will help to shorten your visits to unnecessary residential projects.
- Be informed and try to gather all possible information about the area, location, project interested in and the surroundings in order to make a full proof decision of buying a home. The current prices of realty in that area does matter so doing a little market research won’t take too long but help you in taking the right decision.
- The information about the developer or builder is also significant. What is his record of previous project and did he deliver his previous projects in time or not, his land on which he is developing the project has a clear title or not, etc. are questions that must be answered properly.
- It is better to compare loan options of various financial institutes and which one is most suitable for you should be chosen. Decide the loan amount first as it will depend on your income because you have to bear the monthly installment according to your loan amount and the repayment period.
- While signing the agreement you should carefully check the agreement as builders usually charge unnecessary amounts and we do not have a clue of it. Clearing all doubts before getting into deal is very important and necessary. Taxes do change according to areas so confirming it before buying the house is in your favor.
- Do not take the important decision in hurry as in that case you may have to compromise on some factors. Analyze and double check all necessary things before buying your dream home.
RUCHI MAHAJAN