8 Points Every Home buyer should know before buying a home!

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  • RERA Approved Project 
  • Connectivity
  • Easy Accessibility - Home to Workplace, School, Hospital, FMCG Market etc.
  • Future Development nearby -  Metro connectivity or any other big infrastructure development in future linked to the location of the property you intend to purchase can boost the return on investment tremendously. Also, ensure that the property is not close to any polluting industry.
  • Location Is Incredibly Important - This is something you likely already understand, but I’m putting it here to re-emphasize it. Location. Is. Very. Important.
  • Buy VS Rent: Many people buy a property thinking they will use the rent to pay EMIs. Experts say it is a wrong approach. "Do not over-leverage in hope that rental income will pay for the EMI. The rental yield on residential properties is generally only 2-3 percent." Moreover, the property may remain vacant for months before you can find a tenant.
  • List of Bank Financing the Project: With real estate companies sitting on unsold inventory and not having enough cash to complete their projects, banks have become wary of financing them. There are many builders which do not get bank loans at all. So, once you finalize the property and confirm that all approvals are in place, find out banks which are ready to fund the project and go with the one offering you a loan at the lowest rate.
  • Calculate the Total Cost: Do not go by what the broker tells you. Many times brokers just mention the basic cost and not other factors such as internal/external development fees, preferential location charges, parking/club/statutory charges, and service tax, which escalate the total cost. Ask for the final cost of the property.
Location: India

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