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Buying a Home for the First Time? Here’s What Your Checklist Should Look Like!

Moving out from a rental is a big deal. You have to weigh out all your options, your finances and of course, your comfort. A good start gives you an advantage as well as moral boost. Picking a house that meets all your requirements is crucial at this stage. To help you, Arun Dev Builders LTD have compiled a checklist that you should have when acquiring a new home.

Arun Dev Builders LTDMap your finances
Remember, you’re buying a property for your residence and not for an investment. Buy a house that you can comfortably pay for at the present point of time. Though, there may be chances your only option is the nearest expensive real estate market. Try to curb the monthly housing expenses below 25% of your monthly income.

 Check if you can afford the house
Make sure you fit the prerequisites for a home loan. A stable source of income and a good credit report is important in this case. The banks will keep an eye out for cases where you have defaulted in paying bank bills and other loans. Save cash for down-payment too and get the documentation ready. Double check your documentation for errors. Banks often blow up a small mistake to avoid handing out a loan.

 Compare the mortgage rates
Never consider loans thrown at you at a ‘whatever’ rate by the bank. It’s wise to compare loan rates online at various portals online. Choose the one with the best rate of interest that does not tangle you in the ‘office-office’ heckle.

Hunt for mortgages 

Experts from Arun Dev Builders LTD suggest that you start house hunting as early as possible. It’s not easy to find good-priced and well-placed properties in India. You need to know how property prices work. Some are fixed while others keep changing with the deviations in the real estate market.

 Want to add another point to this list? Let us know! 

 
  • Asha Parmar

    Great article by arun dev builders….keep posting such useful articles thanx

     
  • Vikram Reddy

    This is true that maping your finance before you go to invest on a property is most important. All the other point covered in the article by arun dev builers is also be kept in the mind….

     
    • Jagdish Khehar

      i agree with you sir, the most important is financing before you thing about investing.

       
      • Shivam Dhiman

        As per ,me one have to plan at earlier age of life to buy a home and should start saving. If you start thinking early you can make it complete early. Thanx arun dev builders for genius ideas.

         
  • pratibha Bhatia

    Yamuna Apartment at Devli New Delhi, by Arundev Builders is built with the highest precision to ensure the space is efficiently utilized. The home interiors are quite classy with well-planned layout and neat finish.

     
  • Suhi Herry

    All tips are just awesome…..I read it and i felt that yes these are most important factors while buying a home. Than you arun dev fr such good ideas.

     
  • Rashmi Gupta

    I thing author arun dev builders should include few more things in the checklist…..

     
  • Richie mckellie

    I didnt find this article very interesting and useful. It lacks various other points too. Its very common that everyone know there should be some some pointers that is related to legal and authoritive. So arun deb builders from next time please some more detailed info.

     
  • Ankit Misra

    This is really a good time for all of us as india is changing and we and our coming genration will se a different and happy india. The new RERA rule is a just a small example to this change. This is really a great law for all buyers and investers.