Settling down means a lot of things to a lot people like getting married, getting financially secured or having a stable job. But to most of us settling down is synonymous to buying a house. But before you make the investment to get your own abode, there are several important things to consider first.
This post will help you understand what you should be looking for, as well as, how to invest in your future home in a smart and safe manner. Read on to find out 9-point checklist to keep in mind before buying house in India.
9-Point Checklist To Keep In Mind Before Buying House In India
So you’re in the market for a home, but you’re not sure where to begin. Following these simple tips for buying a house can make finding the right home much easier.
1. Investigate Your Builder
Before proceeding with your purchase, check out your potential home’s builder. How many projects has he completed? Were there delays in completion?
2. Evaluate Your Commute
While it might not seem like a big issue now, the distance between your home and workplace can become a problem later on. Find a property that is closer for a more pleasant commute and overall working experience.
3. Assess Your Connections
Will your home be close to schools, shopping areas, hospitals and other important places? If not, you might want to reconsider a place that is better connected to the rest of the city.
4. Think About Resale Potential
You might think that this home will be your last move, but various circumstances might change that later on. Consider if your home has some resale value in preparation for this. Is there something that will attract potential future buyers?
5. Pay Attention to Air and Lighting
A comfortable living environment should include plenty of access to natural light and air. These features will ensure that your new home creates a satisfying living experience.
6. Check Out Your Amenities
If you like the simple life, things like having a public pool or gym might not interest you. However, if you are interested in these conveniences, be sure to investigate the same at your potential new residence complex.
7. Evaluate the Construction Quality
Is the finish on the walls nicely painted? Is the flat constructed soundly and securely? Pay attention to these details when you assess the home. Pre-approved property loan some facts
8. Look at Road Conditions
Are the roads near your home well connected and reliable? These will be your way to get to and from your home every day, so pay attention to them.
Is your home in a safe neighborhood? Do you feel comfortable allowing your children to play outside? Making these judgments can avoid possible dissatisfaction with your home later on.
Following these tips can ensure that you have invested in real estate in a smart way. Additionally, if you are looking to rent out your newly purchased property immediately, these can also serve as tips for buying a rental property.
If you’ve run through your personal checklist and find that the property you’re looking at fits your needs, the next step is to find funding. As you are looking to apply for a home loan in India, you will need to compare home loan interest rates. Two largest mortgage lenders in India are State Bank of India and Housing Development Finance Co. Apart from banks, NBFCs also offer home loans at competitive prices. Bajaj Finserv offers their Home Loan at one of the lowest interest rates in India with a 3 month EMI holiday to ease the initial period of interior shopping during settling in.
When you’ve found a loan option that you are comfortable with, you should then proceed to the application process. Taking a home loan is a long journey, which involves many stages. Though most Banks have simplified the process and reduced the paper work and foot work required. Bajaj Finserv is the only lending organization that claims to provide a simple, hassle-free and completely online approval process that will have your funds in the bank within 72 hours.
Here’s hoping when you plan to invest in your home, your home loan story has a happy ending.