Me and my husband have been living in a 2 BHK rented apartment for almost a decade but now we are planning to have a house for ourselves. For a month we are noting down the factors to consider when buying a home so that we can invest in the best property and never have to repent. Of course, such decisions should be taken after a lot of discussions. We thus spoke with a lot of people. I will be glad if you can share more as well but for now, let me share my list.
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What factors considered while buying a home?
Opinions and perspectives might differ but in general, there are some factors that must be focused upon like:
Your budget:
The first thing to consider is to set up a budget. You should have a clear idea of your finances and accordingly set a maximum cap to your budget. Figure out what would be the down payment, EMI component, loan tenure, etc. beforehand.
Type of house:We checked out several properties of several sizes but we have made sure that we will opt for a 2 BHK house with lots of windows and a veranda. You should be aware of the total carpet area of the house.
Surrounding area:We both are working people so we needed good connectivity and an area where we can get vehicles easily. It can be polluted but it will be okay with us. If you are planning to live with your old parents, you can have a house far from the crowded roads so it is up to you.
Age of property:It happened once that we were requested to visit a 2 BHK property of only Rs 35 lakhs. Initially, we were so glad to for getting a house at such a low price but when we went there, our hearts literally broke. It was almost 30 years old property and from the outer appearance only we could say that the next earthquake is going to demolish it. So please invest in properties that are in good condition only.
Location:Now as I already said for us good connectivity is a must. You must check whether there are schools, hospitals, malls, universities, temples or whatever you need available near it or not. There is no point in living in a place where going to the hospital will take 3 hours.
If you ask me what factors drive home buying in India, I will point out these. But yes there can be more. I will be glad to know more from you as well.
What legal documents should I check before buying a house?Please check the legal documents first before investing. Make sure the property is legal and to know it, go through some documents like
The Title Deed
Encumbrance Certificate
Property Tax Receipts
Conversion certificate
RERA certificate
No Objection Certificate
I hope this list of factors to consider when buying a home is going to help you.
Read More:What factors to consider when renting a house?
What are the extra charges when buying a house in India?
How to decide budget for buying a property?
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What Factors Drive Home Buying in India?
Qazi Shahnawaz
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3 Year
2022-12-01T10:23:16+00:00 2022-12-12T15:59:53+00:00Comment
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