Whether you are a first-time homebuyer, or an expert real estate investor, buying a dream home, can be a wonderful experience. Every prospective home buyer knows that they must set a specific budget range and follow the price range so that you can understand how much you can afford for the dream home.
Today, Indian real estate is growing at a remarkable pace with the best options to buy, sell, and rent properties. If you are a first-time property buyer in India, then you should know some important things before making any decisions. So, this blog will give you a complete checklist of 10 important things that you need to verify. Please read carefully…
You need to know exactly how much you can spend on your dream home. And by doing this you will filter more than half the number of unnecessary options. As a property buyer, recognizing your family’s current major needs will add you in make the perfect decision.
Location is the backbone of every real estate investment, so it is very important to choose the best location for an excellent investment. But the budget is one of the biggest influencing factors here, so it is better to try the best locality within your set budget. As location will have a huge impact on the resale value of the property. Choose smartly because your home may be your investment in the future.
Rental value in the area:
If you are looking for a high rental from your residential property, a home in a posh locality or populated regions is the best. Exploring the rental value in the region helps you to select the best property and location.
Good Resale Value:
Investment is all about good resale value and it is also a very important thing to consider before purchasing any property. Most homebuyers never consider resale value when they purchase any property. They make a huge mistake by only focusing on attractive amenities, features, and the low price of the property. Yes, these all factors are very important but worthless if the property has does not have good resale value.
This factor depends on the individuals’ repayment capacity, monthly income, currents loans or debts, and age. Financial institutions or banks offer online services such as a Home loan eligibility calculator to assess the loan eligibility of the home loan debtor. The maximum loan that can be approved varies with the banks and the eligibility standards may vary according to the bank or RBI regulations.
Stamp Duty & Registration Fee:
Most of the home buyers overlook this point but this is a very important expanse during home buying. If you are looking to buy a luxury property in a posh locality of the city then you should add stamp duty, registration charges, and other expenses in mind.
Just like location, connectivity plays a very important role in setting the resale or rental value of your property. Make sure that the property is positioned in the best location of the city with the best connectivity through Metro, Buses, Cabs, well-developed roads, and flyovers, etc.
Yes, you know but I want to remind you that amenities in the neighborhood matter a lot. So always try to settle on the locality with rich amenities nearby like schools, hospitals, markets, restaurants, entertainment avenues, and parks, etc.
The future of your investment only depends on the builder, only a trusted real estate developer can give you the best home with the best construction quality, high-end specifications, amenities, security, and timely possession. So it is very important to choose the best builder like Tata Reality. Their best residential project Tata New Haven in Bahadurgarh Sector 37 will give you all these and more at a very affordable price.
Water supply and sewage systems:
If you are looking for residential property for personal use or as a real estate investment in both cases you need to consider water & power supply and sewage systems in your region. Before investing in residential property, make sure that your preferred property will get adequate quality drinking water throughout the year and that the civic body provides decent sewage systems.