Planning to buy a home?
It’s Good News...But at the same time it’s not a very easy step and also here we don't have much opportunity to learn from our mistakes from this process.
Please read Carefully Step by Step.
- First think about your lifestyle,and Discuses with your family.
Which would be the comfortable?Villas, Apartment, Individual home
- Next plan your budget (financial plan).
Just find out how much budget will you spend from your pocket and how much eligibility for your Home (Or) Personal loan and look after other resource like jewels and savings. After calculating these resourses you can decide and aim for your dream house.
- Location and Market Study
It’s very important while buying a home find place near to work , kid’s school, shopping center , Hospital and other conveniences. Main thing find out in that area what will come out in future. Don’t take decision based on others advice. Just start looking at property supplements and trade magazines. Visits real estate brokers, look at property websites, Visit home exhibitions then think yourself lot finally shortlist your dream property location.
- Need to Avoid
If Metro nearby...avoid buying a project which is within 500-600 mtrs from the metro station. Best is to be around 600-1000 mtrs away from Metro station.
- Builders list
Give choice to right builders. Create list of builders. Ask your friends and family members for recommendations ask builder recent projects and look their quality of work and cost of projects. Finally pick your right builder.
6. Check list:
Most important points:
1. Property license
2. Proper Insurance.
3. Approved layout plan
4. Approved building plan
5. Ownership documents.
7. More than one owner
In some cases, the land will be owned by more than one people. So before registering, check if there is more than one owner, if so, get release certificate from the other peoples involved.
8. Approved list
Check if your builder/promoter has been granted documented approvals from Municipal Corporation, Area Development Authorities, Electricity Boards, Water Supply & Sewerage Boards, and Airport Area Authorities. Check if the builder/promoter has secured approvals from Pollution Control Boards, Agriculture & Forest Authorities
9. Show your all documents to your lawyer for final optimization.
10. You are the Owner
Once the property is in your name, you need to ensure that you pay your loan installments in time. Once you occupy the place, be pro-active and maintain it with almost care.