Home buyers across India hope to fulfill their ambition to buy a property or their first home in Indian metro cities like Mumbai, Thane, Pune, or Bangalore. It is usually a matter of great pride and accomplishment to buy homes in these illustrious cities which offer a better quality of life to their citizens. Most home buyers usually invest a considerable amount of their savings into this investment. Therefore it is of prime importance to ensure that this hard-earned and valued investment of buying their first home is in the right direction. Here is a guide to buying your first home in Indian Metro cities
- 𝐃𝐄𝐂𝐈𝐃𝐈𝐍𝐆 𝐎𝐍 𝐀 𝐅𝐈𝐗𝐄𝐃 𝐁𝐔𝐃𝐆𝐄𝐓
When you, a home buyer looking to buy a home in the Indian Metros, you have to first decide on a budget. In case you, the buyer has to apply for a home loan, you have to enquire with the bank on the amount of the home loan and the EMI that you may be eligible for applying. In most cases, the banks provide 80-85% of the home value; you the buyer have to arrange the rest a minimum of 15-20% of the amount as a down payment.
- 𝐓𝐇𝐄 𝐋𝐎𝐂𝐀𝐓𝐈𝐎𝐍 𝐎𝐅 𝐓𝐇𝐄 𝐏𝐑𝐎𝐏𝐄𝐑𝐓𝐘
If you or any of the members of the family are working, as a home buyer you have to make sure that the commute to work is not too much or too cumbersome. In most metros traveling to work is difficult and requires planning as traffic is a major deciding factor. A little thinking ahead in the future may become a deciding factor, on whether the property is near a metro or other means of mass commute in the city. You should also ensure that Schools, Healthcare Centers, and Grocery shops are within 500 m of the apartment. Alongside the choice of the locality will also ensure your rate of return (i.e your future selling price or a good resale value). So while deciding on the location one has to check whether the chosen locality has shown a steady appreciation of price in the past and is likely to appreciate considerably in the future.
- 𝐓𝐇𝐄 𝐅𝐄𝐀𝐓𝐔𝐑𝐄𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐏𝐑𝐎𝐏𝐄𝐑𝐓𝐘
You, the property owner in a metro city have a few important things to look into before deciding on the right property or flat to buy. Some of the features beyond the already discussed location are the reputation of the builder, the size of the apartment, the quality of construction, and whether the builder is providing a smart home and a smart lifestyle with basic amenities like gyms, clubhouses, outdoor sports activities and swimming pools and other recreational facilities for home buyers in a metro.
It is therefore of prime importance for home buyers in the metro to arrive at the decision of picking the right home in Indian Metros and choosing a better quality of life by ticking all the right boxes of convenience, utility, lifestyle, and infrastructure.