Definitive Guide to Buying Your First House Residential Projects in BKC

Posted by radiusdevelopers on December 18th, 2019

Each one of us desires a home of our own, our own cozy love nest where our family can live together happily for years to come. It is easy to dream about such a dream home, but in reality it is far more difficult to search and more importantly finance it. Buying a home is a huge financial decision that involves committing a huge amount of financial commitments over many years. Therefore, it is something that should be given a considerable amount of thought and planned properly. It is essential that you take appropriate steps to protect yourself during and after the purchase to avoid any pitfalls in the future. Proper thought should be given to and certain things that must be adhered to strictly by every prospective house buyer before finalizing the deal include:

Check Developer's Credentials:

Always diligently enquire about the developers, track record and reputation, his Past and Current Projects in Mumbai. It is always a very financial prudent decision to opt for a renowned and experienced developer of that region with a good project delivery track record. House buyers must also watch out for the quality of construction material used in the shortlisted project and the developer's commitment of executing projects as per approved plan and within the complete legal framework and after you buy Luxury Apartments in Mumbai.

Project Reviews:

Scrutinize the layout plans thoroughly to ensure if all that has been promised is being included in the project layout. Projects with a plethora of amenities are preferred by most house buyers. Check if the amenities offered cater to the requires of all your family members and more importantly, if the builder has the goodwill and reputation of fulfilling all that is promised.

Future Plan:

You require to carefully decide the parameters upon which to base your decision of the area you wish to buy your home. Paying heed to the locality and its scope of future development ought to be the most imperative factors to consider. Must look for the historic price trend of the area as it will give a fair idea about the expected gain of real estate investment.

Finances:

Before setting up a home budget, both partners require to have an honest conversation about the amount of debt they are comfortable living with. Money problems are one of the leading causes of relationship troubles, for married or unmarried couples. Just because you can borrow the maximum amount doesn’t mean it’s a good idea. Stretching your budget too far is never a good idea as any unexpected expense will likely have you coming up short when the monthly payments are due.

Loan Eligibility:

Your house loan eligibility depends upon your repayment capacity, income, existing loans or debts and your age. The lending company or banks provide online services such as a house loan eligibility calculator to calculate loan eligibility of the home loan borrower. The maximum loan that can be sanctioned varies with the banks and the eligibility criteria may vary according to the bank or RBI regulations.

Stamp Duty And Registration Fee:

This is an important expense or tax, much like the sales tax and income tax that are collected by the Government. When planning your budget for property buying and deciding to buy a property, you require to know the rate and charges applicable in your city. If you need to know the market value of your property and the stamp duty amount on it, you need to contact the Ready Reckoner to locate your valuation zone and sub-zone. Find out the stamp duty amount applicable to you as per the market value. Buy Residential Property in Santacruz West.

Buying a home is a very serious decision and often involves making a financial commitment for years; hence it is always prudent to take utmost care while investing in property and more importantly investing in the right Property in Mumbai.