All set to buy a new home? Are you ready to take the biggest financial decision of your life?
Think again properly. Everyone wants to buy a new home but have you considered a few things?
Check these few pointers below
● What’s Your Long Term Goal
First and foremost, what is your long term plan or goal? Don’t just buy a house because it feels good right now. We know everyone wants to buy their dream house but buying a house is the biggest financial commitment that you will ever make. Are you planning to stay in this city? Do you have any plans to settle abroad? What is your job stability? Are you planning to settle down? Are you planning to work for at least 10 years down the lane? Will you afford to pay EMI if you leave the job? Considering these things can help you a lot to take better decisions.
● Make a Sound Financial Decision
Buy the house that you can afford. Don’t get us wrong when we say afford; your financial condition and income may be high and you can afford upcoming projects in Mumbai or 2 BHK in Mira Road or 3BHK in Thane or even 1BHK Flat in Bandra but do you think that is essential? What if you only require 1 bhk? So why spend unnecessarily on the things which are not required. You may be financially sound now but what about the future? Make sure you calculate your income to debt ratio carefully. It is advisable to have at least 20% of income as a buffer after paying all your EMI and other expenses so that you don’t have to suffer in case of an emergency.
All set to buy New Property in Mumbai or New Property in Andheri East or 2 BHK Flat in Thane or for instance 2 BHK Flat in Mira Road ? Then don’t forget to check Unique Shanti Developer ,a well-known developer from 1992; they are known for delivering excellence and uniqueness in every project and intend to keep the uniqueness constant in their Upcoming Projects in Mumbai as well.
Additional Home Buying Tips
1. If you are buying a new or old property, documents are the most important things. Hire a lawyer so that he can help you keep track of the proper documents. Documents like title deed, land use, approvals from the municipal corporation, occupational certificate. In case of a resale, property tax paid and loan clearance certificate, etc.
2. Check for total charges like cost of ownership, stamp duty, registration, Taxes, maintenance, property tax including parking and other amenities charges.
3. Check for other facilities like water & electricity supply, buses, train, nearby markets, stores, hospitals, schools, availability of domestic help, level of security and safety and others. All these facilities are already kept in mind while designing a residential property by Unique Shanti Developer
4. Know how much cash, (down payment and loan facilities) would be available. If you are buying a property directly from a builder, there are chances you would get all the facilities in terms of payment.
5. Get the best rates for loans, negotiate with the bank by showing your credit report. You can check for schemes for ladies, senior citizen so that you get the best rates.
6. Always check the rates that are going on for that location. Decide which location suits you best and check whether you can get better deals from any other dealers.
7. For under-construction property, make sure to check buildings which were developed by the same builder. Always go for a reputed builder like Unique Shanti Developers.