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There are many things to consider before you buy your first home, and this guide can help you make an informed decision. This complete home buying guide will help you make the right choice when it comes to owning your dream home, and also provide you with first-time home buying tips. If you follow the information provided in these 10 questions, you are bound to make the right decision and be satisfied with your decision if you are a first-time homebuyer.
The first step is to understand what kind of home works the best for you, a plot, apartment, configuration, etc.
This decision also depends on your budget, if you have no constraints then a ready-to-move-in home is the ideal choice, but you may get a better deal for a property at the launch stage.
There are multiple things that you must consider before buying a property, these include your family size, your budget, the kind of locality you are expecting, etc. There are multiple property types on offer including 1BHK, 2BHK, and 3BHK apartments.
You should also keep in mind that even if you find the perfect home immediately, working out all the details with the seller can take some time. However, a proper understanding and awareness of the entire process can help you move the process forward in a smooth manner.
Your shortlisting should take into account various parameters and not be reliant on only one.
To get a feel for your market, go to open houses and narrow down your must-have list in terms of home type, features, and location.
If you are buying a house in a big city, you need to choose a place that has all the conveniences in the neighbourhood and has good connectivity as well.
You may have to negotiate on certain parameters, but do not give up on analyzing the property well in advance. Note that depending on the locality, your prices will also go up and down.
1. Get as much past information on the agent/developer as possible and ask for references to substantiate the claims.
2. Check if you are dealing with a licensed agent, if not reconsider your choice.
3. Get all your requirements documented and ensure that everything is legally signed before the work begins.
Nilaya Greens ensures to get all the documentation in place before the sale of the property.
You are eligible for capital gains with either of these options:
1. If the sold property is not used by the person for upwards of three years.
2. If your new property is brought after selling your previous property.
Note that the new property purchased must be registered in the name of the person who is expected to receive the capital gain.
Legal matters must take precedence over everything else, and while there are multiple things to consider, here are the top few that you must look out for:
1. Ensure that the Title of the property is not defective
2. Ensure that the construction of the building is as per the sanctioned plan, and the deviations are also accounted for.
3. Ensure that the developer has received a clearance certificate from all the relevant authorities.
Developers like Nilaya Greens always ensure to have the occupation certificate of properties to be ready and delivered on time.
You should be well aware of your financial track record, any pending loans, and also your credit score.
You should consider multiple expenses before buying a home, and focus on interiors as well.
Note that your EMI should not exceed 30-40% of your salary.
Make a clear distinction between what you can afford and what you would aspire to have.
Buy an apartment in an area that is expected to go through developments in the future.
Infrastructure development can help you get a better return on investment. Investing in developing properties and areas like Nilaya Green’s Raj Nagar Extensionproperty, can be a good choice.
Ensure that you have the share certificate and sale/purchase deed of the property, to be able to sell the property in the future.
Conclusion: We hope these first-time home buying tips will help you make the right decision
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Guided by absolute commitment, customer focus, innovation and professional expertise gained over the years, Nilaya endeavors to emerge as one of the key players in real estate construction and development in India.
The Nilaya Group's mission is to deliver best quality infrastructure in the minimum possible cost to the customer. With this commitment, the group aspires to significantly contribute towards improving the quality of life of its customers, via strengthening and expanding its established position, thus becoming the first choice for existing and prospective clients.
We strive to provide value for money to customer, by timely delivery of quality homes at reasonable prices, through transparent and ethical policies and procedures, as a part of our commitment to the national mission of providing homes to millions of people.