Check list to buy your dream home
For people buying a house in areas other than the city centers, the key points to be borne in mind are given below.
By Supriya Verma Mishra, ET Bureau |
MUMBAI: ���Roti, kapda aur makaan��� have been the three basic essentials of human lives. However, with the current job insecurity and irrationality in housing prices, the third essential of life is increasingly going beyond a common man���s reach.
Nonetheless, for people who are getting their dream home at a right price, few fundamentals must be crosschecked. For people buying a house in areas other than the city centers, the key points to be borne in mind are given below.
First and foremost, one must keep a tab of planned infrastructure development in the local area where one intends to buy the house. Metro trains, good schools, hospitals, entertainment amenities, shopping malls, offices, airport, etc should be a part of the development plan, incase they are not already there.
The house should have proper access to the main connecting roads. If the property is located in the interiors, then even a well-decorated or artistically done house will not be able to fetch good valuations in resale of the property.
Just as they say, it takes ages to build a brand. It is always advisable (especially in the current times) to buy a home from a reputed builder. Not only quality but also on-time delivery of an under construction project is assured.
Though it is difficult to do this in the current time, one must do a prior valuation before buying. No doubt the bank does this for you, but being a lifetime investment, it is advisable to conduct an independent check as well.
Finally, being a buyers' market, one must keep in mind that everything in this market is negotiable. Hunt for the best location, best price, and best discounts as even a small discount can save you a lot of money. A five percent discount (which is very common if you bargain hard) on a Rs 30 lakh property can save you Rs 150,000, which can then be used to furnish your new dream home.
One must cross check with public as well private sector banks for their home loan rates as a lot of public sector banks are currently offering lucrative deals. This could make a considerable difference in your EMI over a longer period. Thus, instead of trying to wait and bottom fish the market, one must take the plunge for that dream home. Happy home buying!
Nonetheless, for people who are getting their dream home at a right price, few fundamentals must be crosschecked. For people buying a house in areas other than the city centers, the key points to be borne in mind are given below.
First and foremost, one must keep a tab of planned infrastructure development in the local area where one intends to buy the house. Metro trains, good schools, hospitals, entertainment amenities, shopping malls, offices, airport, etc should be a part of the development plan, incase they are not already there.
The house should have proper access to the main connecting roads. If the property is located in the interiors, then even a well-decorated or artistically done house will not be able to fetch good valuations in resale of the property.
Just as they say, it takes ages to build a brand. It is always advisable (especially in the current times) to buy a home from a reputed builder. Not only quality but also on-time delivery of an under construction project is assured.
Though it is difficult to do this in the current time, one must do a prior valuation before buying. No doubt the bank does this for you, but being a lifetime investment, it is advisable to conduct an independent check as well.
Finally, being a buyers' market, one must keep in mind that everything in this market is negotiable. Hunt for the best location, best price, and best discounts as even a small discount can save you a lot of money. A five percent discount (which is very common if you bargain hard) on a Rs 30 lakh property can save you Rs 150,000, which can then be used to furnish your new dream home.
One must cross check with public as well private sector banks for their home loan rates as a lot of public sector banks are currently offering lucrative deals. This could make a considerable difference in your EMI over a longer period. Thus, instead of trying to wait and bottom fish the market, one must take the plunge for that dream home. Happy home buying!
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