Buyer Guide

When you are buying a new home, then it is important to know about the economic strain in the future. Before finalizing the purchase, you need to estimate how you could finance the home.

EMI or Equated Monthly Installment is most preferred for home loans. When you are buying a new home, then it is important to analyze whether the EMI is available within the comfort zone. EMI must not exceed 40% of the monthly income.

Paying the down payment of 20 to 25% of the total cost of your house is quite important for buying a new home.

CIBIL credit scores are mainly enabled with the three-digit numeric outline in the credit card history, and it is included in the credit profile. When you have the higher credit score, such as 900 or higher, then you could easily get more loans. Credit scores are directly correlated with financial status. Having a higher credit score would also lower the risk of loan rejection. When you have a bad credit history, it will affect your status as the lender would analyze that you are a low-risk investment. The minimum credit score for buying the house is 620. Improve Bad Credit with these techniques:

1. Make payments on time
2. Use the credit card wisely
3. Do not take too much credit
4. Keep the check on a credit report
5. Avoid applying for too many loans

When you like to buy a property, then choosing the best time is quite important. The main reason is that the timing of the property purchase gives you a better saving option. Thorough market research is quite important for buying a property. When you are buying property young or less than 30 years of age, then they are referred to as the young in the property. Young professionals have been earning to the tune of Rs 10 lakh before reaching 30s of age. Investing in property mainly entails with huge tax benefits. Below are the list of common buying cycles that includes:

1. Better planning
2. Fewer financial liabilities in old age
3. Limited available funds
4. Buying in middle age
5. Partner's contribution
6. More disposable income

Many numbers of Investors are looking for an effective way to save their money while buying the property. When you are end-user planning to buy his dream home, then knowing about the pessimistic market scenario would be suitable for gaining more benefits. Buying the home during the festive seasons would be suitable for getting special discounts or avoid making split-second decisions. When you have the right information and exercise due diligence, then you would gain better transactions. You could easily bargain the deals so that there is a huge inventory pile-up ready-to-move-in houses available. Property prices are at their ‘lowest best,' and it is difficult to lower the price of real estate.

One of the biggest questions while buying a new home is the location. Everyone is looking for spacious housing units, social infrastructure, competitive pricing, and the best features in the metro cities. New age investors are looking to gain better attraction in the city as there would be a lot of amenities that could be seen. The decision of buying in the city or the suburb ideally be the function of requirements. When you are looking to buy the property for end-use, then you could opt for the city lifestyle. When you like to buy the property for investment, then suburbs yield higher returns then Investing in cities provides you the well-established social and physical infrastructure. When you are planning to buy the property as the investment, then you can make it as the investment for the economic sense.

The most common decision in buying the property is whether to invest in small cities or metro cities. It mainly depends on the purpose of purchase. When you are buying a property in the metro city, then it would be quite expensive compared to buying in the Tier II or Tier III city. Location is the key criterion while making the decision on the real estate purchase. When you are an end-user, then you should own a home in a location that gives the self-sufficient physical as well as social infrastructure. Choosing the metro cities also brings you the better option for planning and settling for job opportunities.

Choosing between the Developed and Developing Localities for buying the property is quite an important option. It is necessary to weigh various attributes such as quality of social and civic infrastructure, accessibility, and appreciation in the locality for making a purchase. When you are investing in a developed locality, then there is only low risk when the capital appreciation is slower. There is a growing demand for pressurizing existing supply, and this mainly results in the limited scope of price dip and even the negotiation. Well-developed area has the robust infrastructure. Investing in developing localities also helps you to attain better returns as these would contribute to future growth attributes. There is higher land availability in the emerging locality compared to the developed area. This would mainly keep the prices under check and a more convenient option to find the better rate of absorption of land. It is also important to make sure that the area is a dependable Municipal Corporation with burgeoning infrastructure.

Purchasing the dream home mainly involves more research across various attributes. When you are on the hunting of the new home, then making the right comparison of the property, accessibility, location, price, amenities, and many others are quite important. Drawing comparisons among different options available are common. These are mainly cumbersome processes, so that they would provide you the complete aspects. Having the Comparison Checklist on the various property is quite helpful for you to easily save your time. These are also a suitable option for shortlisting the properties along with the varied attributes. These also mainly give the better scope of healthy appreciation on the invested amount.

In the modern-day, home buying becomes highly easier with the introduction of technology and high-speed online networking. You could easily do the quick search about the availability of property in a certain location using the online aspects. It is also quite an efficient option for searching and shortlisting properties on online websites. Normally, the complete home buying cycle requires both offline and online sources so that they would make the buying process more effective.

Homebuyers also have been considering the advice of friends and family. Viewing the property on-site makes it more reliable before purchasing the dream home. Valuable information could be easily gathered by paying heed to the property buyers and seasoned investors.

There are lots of real estate portals available so that it gives better home buying option. You can easily enjoy viewing the property listings with more features like:

1. Micro search engines
2. Map-based searches
3. Virtual tours
4. Locality wise prices
5. 3D floor plans

A real estate broker is the middleman between the buyer and seller. When the real estate broker is genuine and trustworthy, then it would give you the healthy deal. It is quite imperative to select the right broker with multiple options. Before finding a broker, it is important to have the best research, so it helps to make the informed decision.

• Be aware of the local market dynamics.
• The broker needs to be well-versed with rules and regulations with the property.
• Opt for the licensed broker
• Brokers need to be registered under RERA
• Credible broker networks with multiple developers and property owners
• Reviews about the broker

Normally, the budget and location are considered as the most important thing for making a decision on home buying. When the builder is of utmost importance, then it is quite important to choose the best builder accordingly. You need to have the comprehensive background check of the builder. These would mainly ensure the complete future security of the investment. Below are the steps for shortlisting or determining the safe builders:

• All developers need to be registered under their respective State regulatory authority.
• Check whether the builder has a RERA certificate
• Visit completed projects of the builder
• Know about the Reputation and background check
• Verification of builder through credible brokers, banks, as well as other builders'
• association bodies
• Learn about the reputation of the builder
• Make sure the company is ISO 9000+ certified