Some basic guidelines for buying a home of your choice
Apart from an investment, home of choice is also a feeling of pride, fulfillment, stability, and security.
Investing in homes has become a popular trend nowadays. Every individual with a stable income prefers
to own a beautiful home of their choice. Due to the huge money involved, and the investment is
generally for a lifetime, the process is intertwined with a lot of tensions for any person. Many of the
people continue to fall in prey due to the well planned real estate scams. Now, let us loudly think about
some of the basic guidelines to follow while you buy a home of your choice.
Assess your needs
The first step is to develop a clear idea of what are your needs? Think about a comfortable size for the
home to comfortably accommodate your family, what all amenities you need, are you investing with
scope for appreciation, etc. Also, check for the feasibility of the location like is it a residential area, what
is the nature of the nearby villas, are there reputed schools and hospitals in proximity, etc. Streamline
all your requirements, clear.
2. Fix your Budget
Once you are done with the requirements, the next step is to fix up your budget. Home loans can
finance only 80% of the total value of the property. Analyze whether you can meet the remaining 20%
from your personal savings. Have a clear picture of how much you can afford to buy a home, to avoid
long term financial crunches. Seek the service of an expert finance broker to have a real-time picture of
3. Recognize the market charisma
Do not fall into the charm of the market before you take a decision. The competition is fierce in the real
estate industry, and everyone offers a lot of discounts and offers. Stick on to your budget and
requirements for the best lifetime investment. It is good to prefer apartments which offer a
comprehensive range of amenities. Do not wait for the best time to come, but act at your best point of
4. Examine the property and building in detail
As you look up and examine the property and building as a layman, you might not spot out the
constructional flaws. Seek the service of a construction expert for a professional examination before the
deed. Check the credibility of the builder and do enough research on their completed projects and
collect reviews from their existing and previous clients to gain a better understanding of their work
5. Check your credit score
Mostly, you will be planning to apply for a home loan. your credit score or CIBIL score is a critical factor
when home loans are concerned. Check and improve your CIBIL score to expected to avoid
There a lot of other factors as well, we have listed only the most important ones. Equip yourselves with
this information to take the right decision to buy a home.