Home Buyers Guide
5 important things you need to know before booking your first home.
Today, we would discuss a few of the vital pointers that most new home buyers miss due to lack of knowledge and how it could help them in making better decisions for their first home.
Everyone must be aware about Pradhan Mantri Awas Yojana, a credit linked subsidy scheme under housing for all projects by the government. But not many know that women have additional benefits and advantages like rebates in bank interest, tax benefits and waiver in stamp duty ( in few states) to name a few.
Also private financial institutions have come up with many beneficial schemes exclusively to promote women home buyers. Though benefits can look tiny in numbers, it could help you to save big.
As a first time home buyer, you need to understand that newly launched projects always command the best price advantage compared to near to ready or ready to occupy projects. Your home easily appreciates anywhere between 15 to 25% from the launch phase until it reaches its ready to move phase.
Carpet area is an actual liveable space you have in your home including the space of your internal walls. One thing most of the home buyers miss out on asking is if the terrace or balcony area is included in the carpet area.
Super built up area includes your carpet area and also common areas of the apartment and it’s important to understand your super built up area of the apartment as it decides the amount you are going to pay as maintenance fee.
Before you sign the dotted line, it’s vital to understand your rights and limitations as a home buyer. Read each and every clause completely to understand the implications before choosing your dream home. Understand your rights to question the builder for any delinquency or deviation and always insist everything on paper and also understand your duties in terms of payment schedules and so forth to make your new home experience a lot better.
Advent of third party aggregator realty sites have made it really simple and easy to read reviews about the builder and their portfolio. But we would always advise you to do a complete background check rather than depending only on online reviews.
There’s nothing like visiting their past projects or interacting with their past customers to understand the actual experience of them, so that you would get a better sense of what to expect and also narrow down on a builder of quality and commitment.
Women Empowerment Schemes for Home Buyers
Everyone must be aware about Pradhan Mantri Awas Yojana, a credit linked subsidy scheme under housing for all projects by the government. But not many know that women have additional benefits and advantages like rebates in bank interest, tax benefits and waiver in stamp duty ( in few states) to name a few.
Also private financial institutions have come up with many beneficial schemes exclusively to promote women home buyers. Though benefits can look tiny in numbers, it could help you to save big.
Get better deals with Newly Launched Projects!
As a first time home buyer, you need to understand that newly launched projects always command the best price advantage compared to near to ready or ready to occupy projects. Your home easily appreciates anywhere between 15 to 25% from the launch phase until it reaches its ready to move phase.
Know your Carpet Area & Super Built-up Area
Carpet area is an actual liveable space you have in your home including the space of your internal walls. One thing most of the home buyers miss out on asking is if the terrace or balcony area is included in the carpet area.
Super built up area includes your carpet area and also common areas of the apartment and it’s important to understand your super built up area of the apartment as it decides the amount you are going to pay as maintenance fee.
Read the complete Terms & Agreements
Before you sign the dotted line, it’s vital to understand your rights and limitations as a home buyer. Read each and every clause completely to understand the implications before choosing your dream home. Understand your rights to question the builder for any delinquency or deviation and always insist everything on paper and also understand your duties in terms of payment schedules and so forth to make your new home experience a lot better.
Do a thorough background check of the builder ( Not just online)
Advent of third party aggregator realty sites have made it really simple and easy to read reviews about the builder and their portfolio. But we would always advise you to do a complete background check rather than depending only on online reviews.
There’s nothing like visiting their past projects or interacting with their past customers to understand the actual experience of them, so that you would get a better sense of what to expect and also narrow down on a builder of quality and commitment.
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