Updated Trends: Buying or building a house can be the biggest head ache in the world. A person always dreams of owning a house and nurtures the dream by giving it the shape of his/her choice. However, while buying a house it is very essential to be careful and patient. There are certain vital things that have to be taken care of like the location, age of the house, and signing of documents. So if you are planning on getting that loan to buy your dream house, here are the few tips and important things that have to be kept in mind.
1. Proper amenities – One has to first check whether the vital amenities like water, electricity, phone connectivity, roads and parking space is available or not. Apart from that, one has to also look for proximity to markets, schools, hospitals, recreation centres, and stations/bus stands.
2. Proper documentation – All the essential documents like solicitor’s title report, municipal corporation approvals, no objection certificates, title certificate and other such important documentation is mandatory, and you need to check if everything is legal.
3. Verify the advertisement – Before going in for the approval for a house on the basis of the advertisement, it is essential to confirm all the amenities mentioned in the advertisement with your own eyes.
4. Home Loan – Make sure that you apply for a loan with a reliable bank. Do not forget to survey the market for the best offer on loans with the interest rates, else you will end up paying too much interest on your loan amount.
5. Spend wisely – Before you invest on the house, make sure that you spend according to your pocket. Try not to over spend. Do not exhaust yourself financially and plan the loan repayment properly, as any defaults in payment will prove costly for you and your dream house.
