Best Guide to Beginners for Buying their Dream Home
Housing sector in India is offering lucrative offers to increase their customers and provide housing for those in need. There is a lot to explore for beginners before even producing a thought of buying house in their mind. Real estate sector has many additions in housing properties. Look and you will find out trendy houses, affordable projects, villas, independent floors, penthouse made up of 2 apartments and duplexes.
Here is the best guide to the beginners to take them to their dream homes.
Before thinking to invest your capital in the property, be clear about your own requirements. Give a thought about the space you need. If there is any elder staying with you, the strength of your family, do you need space for guests or not and ample of more things. Then if your requirements are clear then follow these steps:
- Location of House – The major concern lies in the location you would want to buy a home. All the worth of property is just because of where it is situated. Then find out if you need an apartment, penthouse, villa or a bungalow. Noida is a place in Delhi, capital of India where you will find good options. There is ample amount of villa in Noida at reasonable rates. You can check for this sub – city if you are not sure about the location yet. Check if the house wherever it is located is feasible to you. Are there any new schools, offices and markets nearby? Location makes you one step ahead of buying your home.
- Finalize the budget – There are many residential properties available out there, but they all vary not in terms of its structure but also in the pricing. Calculate your budget and then decide the best possible type of house you want to live in. You can also contact mortgage banker to clear your doubts. Just do not fool yourself by paying the large amount of EMI for next 2 decades or so. Plan your savings along with EMI’s if decided. Try to calculate the rate of interest and then see how much extra you are going to pay. If you have your savings intact, then try to pay the down payment as much as it is possible.
- Search for the Property – Next step you need to take is to search for the property whole- heartedly. This is the most effort consuming step and crucial one. You can look for ads in newspapers, magazines, internet. It is filled with lots of properties. Look out for the houses in your preferable area without spending money on the external agents and brokers. Property searching involves gathering information, sight seeing and fitting your requirements in that place. It is a time-consuming step so there is no need to take any decisions a hurry. Check for the RERA registration of the location by the government. Also, do not try to act super slow because it can take you miles away from buying home because properties are selling at lightening speed.
- Finalize the Deal – Once you have confirmed the location, house and decided to purchase the home, then comes finalizing the deal. Talk to the owner and settle the price which is in favors of both. Negotiating can at least save you up to 10-15% on the total cost of the house. Then do the paperwork very carefully and do confirm if you have any doubts. If you are a beginner then you may involve any elder relative for the paperwork and making the registration of the house in your own name.
These are the basic steps which everyone needs to follow if they want to land into a safe property by means – their capital is safe throughout. Be so much confident in investing to any property so that if you think of a resale at least you can get your capital back.
You may get a lot of options all over the country. If you haven’t got a chance to think where you want to live or you are in Dilemma where should you buy a home for the sake of investment, then try these places:
These are the top 5 places where you can get maximum return on investments. You may have surely heard about Noida which is part of Delhi and lies in Uttar Pradesh state. It is growing each day as there is lot of property construction and you may have many opportunities to decide where do you want to stay. In terms of education and employment, there are numerous opportunities to fetch. Noida is Extremely affordable and does provide some of the best housing in the north region. If you are temporary or haven’t made any mind, then there are pg in Noida. Either you can go for bungalow, apartments, macro homes and villa in Noida. According to your needs, there is everything in the city and you just need to find it.
At the end, you just cannot get a property deal in one day and should have some amount of patience within yourself. Make yourself decide step by step and take ample amount of time but just do not be late. Rest will fall in place automatically. There is a process to buy or resale the house and go through every ladder if you really want to buy your dream home. If you do not have a lot of savings, then EMI option is always available to you. All you must consider is your saving and mortgage ratio. Do not let your savings say goodbye to you just because you have a lot of loan to pay throughout your life. Just make it short and feasible as much as possible. In the nutshell, if you follow the right path of purchasing the home, then you will be living in the one of your dreams.