Going to buy a house for the first time? Take care of these 6 things or else the loss will be done
Our Buying a house for the family is everyone’s dream, especially when you are taking home for the first time. This is a very special feeling. For the first time, those who buy homes should take care of many important things. If you are thinking of buying a house, house or flat for the first time, then these tips will prove to be very helpful for you.
1. Take home loan wisely
If your credit score is good, banks can give you a loan of up to 90% of the property price. It is understandable that you make as much down payment. This will reduce your monthly installment (EMI) and will avoid heavy burden for a long time. Contact different banks and NBFCs (non-banking financial companies) before taking a home loan. Where you get loans at the lowest interest rate, take it from there.
2. Assess your salary
While taking a home loan, along with your current salary, think how much your salary can increase in the coming years. Remember that you have to bear the entire household expenses from your salary, which will include maintenance and other expenses besides EMI.
3. Put your expenses on your expenses
Make an account of your expenses before taking a home loan. Work immediately where expenses can be reduced or closed. Avoid extravagance so that there is no problem in filling EMI in future. Make a habit of saving.
4. Avoid paying commission to agent
On buying a house through an agent, he takes one to one and a half percent commission. Some agents also take commission from the seller of the house. This is usually 1 percent. The house seller eventually charges this cost from the buyer. In such a situation, the buyer has to pay a direct and indirect commission of 2.5 to 3 percent. If there is no agent between the developer and the buyer, then this commission will be saved. In such a situation, try to buy the house directly from divlea or sellers.
5. Property age
It is very important to know the right age of the property you are going to buy. In today’s time, its maximum age for any property is considered 70 to 80 years. Keep in mind that the older your property will be, the lower its price than the new property. To know the correct age of the property, you can interact with the local people and property dealer of that area. Apart from this, you can also take help of structural engineer.
6. RWA
Real estate experts say that in today’s time the Resident Welfare Association (RWA) is becoming very important. Security is a big issue for new people shifting to any city. RWA usually takes responsibility for the security of a society and also provides security on their behalf. Along with this, in many places RWA also takes responsibility for works like electricity and plumbing.
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