Home Buying Guide: Everything You Need to Know

So you have finally decided to buy your dream home? Well, it is one of the most important decisions which is generally taken once or twice in a lifetime. However, from checking the prices and locations to choosing the best real estate developer, it involves a lot of homework on the part of the homebuyer.

Let’s take a look at all the major points for purchasing your dream house.

Determine what you can afford

It is imperative to know the budget before proceeding to invest in a 3 BHK in Indirapuram or any other city. A proper budget for purchase will help determine the amount left each month to meet expenses. Accordingly, you can plan the budget for buying a flat. Significantly, experts suggest that the budget for a house should be equal to 4-5 times the annual household income if 20% down payment is already made.

Find a Reliable Developer

Searching the best and reliable real estate developer is a task in itself. For that matter, you should do your research and make a list of the best real estate developers in your preferred city. You can shortlist the lenders on the basis of the following points:

·         Check his background

·         Financial stability

·         Track record of timely project delivery

·         Quality check

You may also check the facilities and amenities offered along with the property to ascertain that the investment would be worthwhile.

Legal Diligence

Whether you are buying a new property or a secondary property, ensuring the developer has the right to sell property or title of the property is imperative. You can check occupancy and safety certificates. Besides, you may also require to consult a legal expert to comprehend the agreement and handle other legal formalities involved. If you find everything at the place, you can go ahead with buying the property.

Registration of Property

Mere physical possession of the property doesn’t mean that you have bought the house. The process should be done legally, as well. You need to transfer the ownership of the flat for sale in Indirapuram or any other city in your name; say register the property legally on your name. Apply in the registrar office for the same and pay the applicable stamp duty and registration fees to the government. Finally, registration is done, and the house is yours legally.

Well, the entire process may look cumbersome or tiring, but the result is sweet. By performing a few steps, you are getting access to your dream home. So, just a few careful and wise and steps from your side, and you have got your dream house.