Tips to buy your dream home in 2020

Buying a dream home is one of the most important decisions a person makes in life.

Before entering the home buying course, carefully evaluate your needs. Finalize your interim budget, the type of property you want, the number of rooms and the list of essential services. Budgeting will help you understand how much you can afford. Once you're done, rate your money. Check your credit score, mortgage loan eligibility, and current financial obligations. While doing this, make sure you have some emergency funds. If you are taking a mortgage loan path, make sure that you have funds for prepayment. Also, it includes the monthly rent, maintenance fees, and EMI when calculating your budget. If we look from a purely sales perspective, apart from the affordable housing in which the government has granted interest rate subsidies under PMAY, there is a large number of sales going on in the range of Rs 40-60. This can be seen especially in the Thane extension, Kalyan and Dombivali belt at MMR around Mumbai.

Whether it is stocks, investment funds, or any type of asset, the first thing an investor does is to check and the properties are no different. In fact, when it comes to buying a home, there is no such thing as excessive perusal. Try to get the pulse of the real estate market by reading the latest news and research reports. Understand tax, legal, and the process of obtaining a mortgage loan. To get to zero, you can also talk to other buyers and investors about your home buying experiences. After clearly understanding the above, make a list of projects in different locations of interest to you. Before moving on to the next stage, be sure to do a quick search on the RERA website to verify the legitimacy of specific projects.

Now that the project list is ready, it is time to enter the field. Take a local weekend getaway and try to visit projects in that specific area. Site visits will be a test drive before buying a car. You have a checklist about your tastes and preferences ready during your visit. Conduct a comprehensive evaluation of all characteristics. During your visit, don't forget to take photos and videos so you can remember what you liked or disliked about each project. Finally, don't be tempted by floor models that look less than a set taken from romantic Bollywood classics. After visiting some properties, start the shortcut menu. Take some time to think about your needs before making this list. This is the time to discuss your findings with your family to make an informed decision. Visit the pre-defined properties again to reach a final decision.

With unsold inventory increasing, especially in the budget segment of Rs 60 plus, there are around 650,000 unsold homes in the seven largest cities in India. It transformed this market into a "shopper's paradise" with the possibility of choosing potential buyers. The developers are ready to negotiate better and make a great offer. However, negotiation is an art and not everyone can do it. So, the best way out is to hire an agent. A trusted employee can be like a Siri who helps you every step of your dream home buying journey. In addition to exploring projects and assisting you with site visits, the agent will also negotiate with the creator on your behalf. Simply put, a good agent will support you all the time. If you are looking for one, our experienced consultants can always help you.

With the final price agreed upon, you should now deal with real estate documents. Make sure to get a complete list of documents required by the developer for the transaction, as well as for applying for the loan. Here, we suggest consulting a lawyer to ensure that the documents are legally sound. Once you are completely sure, you can follow up and write down the sales voucher and pay the reservation amount. Interest rates, loan term, loan-to-value ratio, processing fees, and prepayment fees are some of the factors that you must consider before choosing a lender. Once the lender has completed, complete the application form and submit all required documents. Related KYC and Income and Loan Repayment Documents

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