Tips for a first time home buyer

So, we take it that you are thinking of investing in a dream home. Are you a first-time buyer? If you are, we have to reiterate that it is a tricky process and you have to consider a multitude of factors to ponder upon. Read on as we list the most relevant ones.

What are you looking for?
It is easy to imagine your dream home as a sprawling mansion with all the modern amenities. However, the first thing is to be realistic about your realty dream. The type of property you are deciding upon should fit your budget and your needs. Think about how many people will be staying at home regularly, think about how you would provide for the upkeep of the property. Once you decide on that think about the type of property – an apartment or a villa or a gated property – you would invest in based on your budget and your preference.

Location is everything
Do your research online – but a visit to the location is important too.
When you visit the site, keep your eye open for what your neighborhood offers – like reputed educational institutes, premium hospitals, top-notch supermarkets, and other urban conveniences. Make sure your locality strikes the perfect balance between residential and commercial, for a hassle-free living with top amenities and facilities and easy connectivity.

Work on a financial plan
With that sorted, you can now consider your financial planning. What is your CIBIL score? Does that fall under the stipulated limits? If the answer is no, work towards it. This is important when you are taking a home loan as banks ask for this data. It is always advisable to opt for a home loan since it gives you an array of benefits. Read up on the various loan options provided by banks and financial institutions and make your move wisely. Choose the type of home loan wisely.

Go in for reputed builders
The credibility of your builder is of paramount importance.
Check the credibility of your builders before signing the deal. Different dealers excel in different types of properties. Find out if the builder has the reputation of completing projects within the stipulated time, quality of construction, delivering what has been promised, among other things.

Check the legal documentation
The RERA laws require a developer to register with RERA for every new project exceeding an area of 500 square meters. Make sure you check the license and registration number of the development before investing. You also have to meticulously go through the documentation. IndRoyal Properties can aid you with this process.

Indroyal Properties will guide you through the process and provide answers to all your questions. Give us a call to experience the difference.