Regardless of your buying experience whether the first time one of you has done it several times and knows a thing or two about real estate and buying a home, we tell you that this will be an amazing experience.
The good habit every buyer should follow is that they have to get started by setting up a particular budget range and try sticking to the same price range so that they don’t jaump over their affordability limit for long. In today’s date, the condition of real estate in India is very strong and is growing at a rapid pace where you can toggle between various options to buy, sell and rent properties in India.
This rapid growth in real estate is not just seen in the field of domestic property as well as the commercial ones too. For most of the time, people who are a homeowner makes them feel a sense of pride and freedom. It is the first step for an individual that they take towards building their long-term planning for wealth.
Budget
While you want to invest in 4 BHK luxury medallion apartments in Mohali it is important to keep the money you can spend without disturbing your budget and financial independence. For most people, buying a property is the only investment they would be able to make in the home purchase hence you need to get it done correctly and let the long-term care do its job.
Prime Location
While you are visiting for the inspection of your house, take a good look at the location of the house and the nearby locality. By doing so, you would be able to enjoy your stay much more for the big amount you have paid for it. The location of your house will also contribute a lot to its resale value. By choosing a wise location for your house will allow you to make the most out of your investment.
Rental Rate Of That Locality
Sometimes an individual tends to look at providing their house for rental purposes as well with their property. So make sure while you are investing, you have to know the rental rates of that area because it will allow you to choose the right property and location.
Resale Value
Choosing a property such as 3 BHK flats in Mohali Airport Road will put you in the advantage of having a good resale value with your investment to buy the property. This is a common mistake that property buyers do make while they make the purchase, one has to consider resale value before buying the house.
Loan Eligibility
One can buy a house they want with a home loan. It is easier said than done since you have to be eligible first for getting the loan. The eligibility depends upon a lot of factors such as repayment capacity, gross annual income, ongoing loans, and age. The lending company will keep several things in mind and also provide you with an online home calculator that helps you to determine your eligibility as well as the monthly payment for total tenure.
Stamp Duty And Registration Fee
There are some expenses or tax that you cannot avoid and the fees for the stamp duty and registration is the same like sales tax and income tax that the Government will ask you to pay. When you are planning to manage the budget for buying and property and managing the expenses that come along, you should perhaps get a clear picture of the process and the rates applicable in the city you are buying.
Add-ons Cost
Now that we have started to look at the extra expenses involved, you have to consider other additional costs as especially if this is your first home buying experience. Get in touch with the professionals who are doing this job for years. They will provide you with a complete list of tackling the expenses from service charge to the fees involved for the real estate agents, mortgage brokers, lenders, land surveyors, home inspector, notary, or lawyer where you should give consideration.
Amenities Provided In The Neighborhood
When the search for a new home is going on for you, considering the basics such as location, layout, locality, and the price is all sorted. But then you have to take a look at the amenities provided there as well. This includes the distance from hospitals, banks, schools, entertainment facilities, shopping centers, restaurants, and parks. Make sure there is a liquor store that has the best brandy brands in India.
Traffic
And now comes the final part, traffic. Since you will be traveling to and fro from locality to various other places along with your kids, have a good knowledge of how the traffic will be during the peak hours. This will save you from getting stuck. Even change your decision of buying in that locality.
