The Real estate market in India has seen constant growth over past few decades. Factors like easy availability of finance, fast economic growth and high disposable income have made Indians look favourably at realty market, who, or else demurred from entering the arena due to stagnant income and tendencies towards time-bound risk-free investments. But, now the time has changed!
In this market, today, even simple tips or corrections can bring a difference. Here we summed up the tips for first-time property buyers in India, to save your time and make your life much easier, directly from the real property buyers:
Investing on property the very first time is always multifaceted. Not only satisfaction, shelter and security, but it also assures you financial strength and increased rate of returns on the invested amount. It all makes the ‘budget’ factor tricky for the first-time buyers.
Furnishing, paint, interiors and other miscellaneous expenses can possibly eat up lakhs of Rupees.
Quality of construction and Preference
For first time buyers, the broad array of alternatives may form confusions like the floor you should prefer in high-rise structures, the materials used for construction, maintenance cost factor. These are amongst the main questions that need to be answered to adjust into the needs of your family.
In all cases, quality of construction is preferred to be super standard, while, to select the floor and position, one has to identify the need and preference.
Assess your desired neighbourhood
How much do you really know about the neighbourhood? Have you checked on the connectivity factor? How far is the nearest market? Also, consult with the neighbours because their perceptions may offer better insights about your preferred location.
Ready-to-move-in or Under construction Property
Decide on the basis of your requirement. If you can wait for a stipulated time period to buy a property, then going for under construction will be the best bet. As the price will comparably be lower and when it’s ready, a decent appreciation in property is assured. However, if you are in the hurry, then go for a ready to move property after ensuring the amenities within and around.
There are multiple options to invest in, like you can buy premium retail shops, Hi-Tech retail shops, a luxury apartment or a studio apartment.
Dealing with Brokers & Builders
Knowing how to deal and clarifying all your questions with broker or builder becomes an important task for the first time buyers. Make sure that you understand the agreement as a whole so as to avoid any issue later.
Documenting should be best done with a capable legal expert who could guide you about the need of a number of documents before applying to buy a property.
The majority of first time home buyers opt for a loan to get rid of the burden of instant and future payments, however, most financing options may depict one and the same picture.
Interest rates, term of loan repayment and contract terms are the points to consider before inscribing sign on the loan agreement.
The more you educate and train yourself about the process in advance, the less nerve-racking it will be, and the more possible for you to get the best overall deal.
When it comes to the best deal, MetroMart at Wave City Center comes into our minds because MetroMart is a one-stop-shop for shopping, gaming and entertainment, which has one of India’s biggest food court, an exciting kids’ play zone plus exhibition and entertainment areas.
Along, specially designed air-conditioned independent shops with space for hypermarkets and fashion stores make MetroMart an ideal retail destination in NCR.
For more information on Real Estate and Best Investment options, you may contact us by filling the form.