Smart Tips For First Time Home Buyers

The motivation to own a big home in future drives some people to work hard. Buying a home is a big investment. So, it is imperative that you put your hard-earned money in the right place. Buying a house in a society like Kalpataru Residency in Hyderabad could be a great option in the long run.

It helps to look at projects by reputed builders. A builder who has been in the market for decades ensures a certain level of trust. Consider such properties when looking at a house for sale in Hyderabad. Even if you get it at a slightly higher price now, it is sure to give you good returns on your investment later.

Smart Tips For First Time Home Buyers



Are you feeling intimated by the idea of buying a house? Yes, it is a big financial investment. But a few tips will make the journey much smoother for you.

1. Maintain a checklist - First, jot down all that you are looking for in a house. This includes the facilities available in the apartment and the number of rooms. You should also consider the distance from the city center or airport, hospitals, and so on. These things will give you an idea of the localities where you could stay.


Once you know your needs, you can sort out the ones you like from the long list of properties listed on websites. If you are looking for a house for sale in Hyderabad near the metro station, then Kalpataru Residency could be a good choice.

2. Finding an agent - The next step is to compile a list of property agents. You can either ask your friends or relatives to refer someone or find one online. Once you discuss your needs with these agents, they can show you some selected houses.

This will save you the trouble of looking for a place. Later on, they are also helpful in doing the paperwork and gathering documents from the builder. They are experts in their fields and thus can get things done fast. Make sure you discuss their agency fees before you share your needs else, they might cheat you.

3 Loans - Gone are the days when one had to struggle for 10–20 years to save money to buy a house. With loan facilities easily available, you only have to pay around 20% of the down payment. You can take a loan for the rest of the amount. Equated monthly installments (EMIs) help you pay off the loan with ease.

Non-banking financial companies (NBFCs) like Bajaj Housing Finance offer you home loans of up to Rs.3.5 crore for a tenor of 20 years. Lenders may also need a couple of weeks before they release the actual amount. In the meantime, you would need to get the list of documents and submit these to them.

Many new housing projects are pre-approved by various NBFCs like Bajaj Housing Finance. You could reduce the loan processing time if you go through those NBFCs.

4. Budgeting - It is important to prepare a budget to account for your new expenditure. Once you start paying EMIs you have to reduce your expenses. If the loan is on a floating home loan rate, then your EMI will fluctuate. You will also have to invest money in the maintenance of the house.
Besides, before you take possession of the house, some builders will ask for a society maintenance amount in advance for the initial years. There can also be some extra charges for parking and stamp duty. There is also a stamp duty to consider. The rate differs from state to state. Look for the exact stamp duty in Hyderabad when you are looking for a property in Hyderabad.

Conclusion

Buy property in Hyderabad at the right time and you will get good returns on your investment. Look out for the upcoming localities and projects which are worth investing in.

Give preference to buildings which have better facilities and connectivity to expressways, schools, and hospitals. You can calculate the future market value of the property using previous market trends.

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