Home/Buy and Sell/Investment/As a first time home buyer residing in one the major cities of India, what are the most important factors that I should consider?
Q.
As a first time home buyer residing in one the major cities of India, what are the most important factors that I should consider?
When you start to plan for buying a new house, you must be stuck around this question - what to look for when buying a house in India! Well, this happens to the majority of the people while buying a property for the first time. I have mentioned a few points which will help you with buying a property in your desired city.
Budget and Purpose
Before you move to other points, it is extremely important to know the purpose of buying a property in India. You should be sure if you are buying for yourself or for investment purposes. If you are buying the house for yourself, you should consider projects which are ready to move in or which will be available soon. Budget and purpose go hand in hand. You need to do financial planning for buying a house in India. You should also consider the loan and EMI amount and plan accordingly.
Size/Area
Many people have a question on how to buy a house in India depending on the size. Considering your purpose, choose a house which suits the requirement of you and your family if you want to buy it for yourself. If you are buying it for investment, size is secondary as you can focus on rental benefits.
Location
Location plays an important factor while buying a house. Buying for Self - Depending on the factors like the distance of your office and children’s school you can choose a house which is in close proximity. You also need to consider other facilities like water supply, nearby hospitals or day to day amenities like grocery shops etc. are available. For investment - Choose according to the rental benefits as well as considering a location which is in the developing stage. If you plan for your retirement, choose an outskirts area as you can buy a house at a lower rate and by the time you retire, the locality would have been developed steadily.
Amenities
Amenities also play a crucial role while buying a house. If you are buying for yourself - Look out for projects which offer the best amenities with a similar budget. Go for a property with minimum facilities like gym, swimming pool, sports and recreation, nearby schools and hospitals and so on.For investment - Most of the people look for a flat with low maintenance charges and if you buy a flat with excellent amenities, the maintenance charges are usually high. So look for a project which has all the basic amenities!
Post
Question
As a first time home buyer residing in one the major cities of India, what are the most important factors that I should consider?
Diya
✔In Progress
👁119
Views
August 13, 2020
2020-08-13T07:37:34+00:00 2020-11-11T16:48:00+00:00Comment
1
Answers
Investment
Share