Any decision in our life must be taken at the right time and at the right place. This holds good for decisions like buying a good property at the right time. Just that you have decided to go ahead with buying a property itself means, you have great plans for a bright future and you are about to fulfill a dream of your lifetime. The thought by itself is the first step to success.
People have different reasons for buying a property. The minute the idea of going ahead with the purchase dawns on you, contemplate it. Reasons may be many like:
Before taking the final big leap, let the decision be a rational one. Let’s figure out certain important factors which you should consider before moving ahead.
If you have answers to the above questions, based on your circumstances, how soon do you want to move into a new house, and how big (size and specifications) should it be? Time permitting, do you want to go in for a plot and start building or move into a ready apartment or one that will be completed shortly? These are big questions that must be answered right.
Once you know the size and specification, location, and all other things you require, you can figure out the budget and go ahead. With various options and offers available with builders like Malles Constructions, it is easy and pleasant to work out good deals with them.
Before deciding on the builder, take a look at their profile, surf through their projects, website, and status of current under-construction projects, goodwill amongst earlier clients, their reviews, and experiences with the developer. You will definitely be happy with the credibility and reliability of builders like Malles Construction. You will feel confident that you are making an informed and safe investment.
The budget is always the game changer for the buyer. Builders like Malles Constructions offer properties with uptick points like wide balconies, decks, living space, good amenities, and so on and this tempts the buyer. We cannot move away from good properties even if we fall short of our budget. With easy bank loan availability, there is nothing wrong with going the extra mile for a good home, a one-time investment.
Buying a house is a long-term investment. A precise calculation and wise decision will enable you to enjoy all the amenities we would be paying for in our new home. Here are some tips to consider before taking the final plunge.
Basically, you must verify the identity of the seller. Kindly peruse his PAN card, Aadhaar card, and other personal details. Never fail to make title verification which will prove the ownership of the property.
With builders like Malles, you need not worry about the documents. It is always best to have a consultation with ethical property experts who can help you with all legal formalities. Malles property experts will willingly guide you with the entire home-buying process and do away with all your stress.
With the help of the experts, you should also check if the documents of the plot or apartment you are buying are intended for the purpose of your investment. Seek guidance regarding construction approvals from the government, authorization by the municipality, etc. This is a must as you should not face problems regarding the electricity supply or water supply in the future.
An occupancy certificate is a must. The seller has to obtain one before the property transfer. The most important aspect that must be verified by the buyer is that the seller should not have any pending tax charges or any mortgage on the property. For all this, you can contact the municipal authorities concerned or check government websites for the correct details. NOC copies of the sewage board, environment department, and pollution board are a must.
Also, you must check the official Real Estate Regulatory Authority website for property information about default payments by the seller/developer.
Home loans are common these days and Malles builders themselves arrange for them. Even people who have enough funds to buy an apartment or plot go for loans as it gives tax benefits. The Indian government provides tax deductions under section 80C up to Rs. 1.5 L and under section 24B up to Rs. 2 lakhs. (You cannot claim the tax benefit if the property is under construction).
After you have bought the property, secure the sale deed, digitalize the documents and update the new address.
Try to evaluate the future gains that can be obtained from the property. Consider the resale and rental value of the new property. If the property is strategically located and has plenty of amenities, it is sure to get you a good ROI by way of rent and will also have a good resale value.
You are almost done with all aspects but hang on!!!! Do not forget to calculate additional expenses like GST, Registration fees, home loan processing charges, etc. Check out to see if there are any hidden charges (not mentioned in the deal) too. Home is the most valuable asset we invest in, go ahead now, and sign the final agreement.
