ing a home is a lot much better than paying rent permanently and it can help to go in for your own home when you have a disposable income to support an investment. The decision to create an asset by acquiring your own home also lends you the liberty of surviving in it. However, your decision needs to be accompanied by the right choice. Far too many people have lost hard earned money chasing wrong choices, and burning their fingers, when better options existed. Ignoring pitfalls can separate you from your cash real fast. Prospective home buyers can greatly take advantage of attractive home loan options that include slashed interest levels and extended repayment period. However the loans ought to be put in the right property to be of value. Take a look at compelling reasons for buying a home, and the safest way to go about it.
Creating assets which have typically appreciated
Property values have typically appreciated and increased, save for the odd price correction or fluctuation. Certain periods might have been sluggish, but overall, values have not dipped to levels where home owners lose money. Therefore, going in for your own home, is a prudent and wise decision. Two factors that are in ways intertwined to one another are worth looking at here. One, home loans have been one of the biggest drivers of credit growth[1], and two, mortgage loan interest levels will continue steadily to reduce further[2]. The narration here, is in the numbers, and purchasing a home through loans certainly counts as a wise decision.
Choosing the right address to move in
Your future address should maintain a peaceful neighbourhood, not overcrowded, with access to existing or upcoming amenities. Pick a location that offers easy connectivity. It might not exactly be realistic to expect to take up residence near a preferred or premium school or college, but it’s important to choose an area from where could possibly not be too difficult to get to the school or college. However, it is crucial to choose property that is somewhat near to hospitals.
Find your way through confusing conditions in realty
Many homeowners often get taken for a ride, by confusing conditions about the region of property. What you need to know is that the actual area of the property is the carpet area. All the conditions are information of statistical value or general information. Do not allow other conditions like super developed area or built up area, cloud your assessment of the property. Choose a reputed builder to purchase your property. Your dreams of getting into a property that is under construction should not be shattered with a wrong choice. Possession dates of completed projects and reviews of clients of the house developer are good metrics to evaluate the reputation.
Spend time poring over the paperwork to prevent endless and tiring legal battles
Make no mistake about the paperwork, or you would wrap up like the countless frustrated and helpless buyers of property from dubious developers. Never shy from the need to check paperwork; it is your dollars chasing a dream. Check the sale deed, which documents the sale, and must be mandatorily registered. The title deed, encumbrance certificate and conversion certificate provides you with more information about the house and the legality of the construction. Approvals need to be secured from various authorities and boards. A commencement certificate and occupancy certificate will let you know that the development has been commenced with approval, inspected on completion and certified fit for occupancy. Finally, make sure that there are no dues in taxes from the property. To remain the dotted line only after you have been through all paperwork and you will probably not rue for you to decide.
