Your own
home is like your own child, the only difference may be is that homes unlike
humans turn out exactly the way we want them to. Hence the term “ dream house”.
As times changed, the definition of homes have also evolved. From houses people
are now shifting to what we call flats or apartments.
So, before you head to buy that beautiful apartment
you have your eyes on, check out these pointers to make sure you make the right
buy.
1. List out your needs
Your apartment will be where you wake up everyday,
from where you leave and to where you come back to every single day. Everything
you expect out of your apartment, has to be met with. Make a list of the needs
you require to be fulfilled. If may be distance from your work place or
building facilities, nearness to the city, or whatever. Make a through list,
while some needs may have to be compromised upon, the basic needs are
inevitable to be denied.
Listing your needs will tell you more about
which locations can help your achieve the same. Check out multiple locations
which gives you the view you desire under your price bracket.
3. Start your research
Post location choosing, you will need to head
on with your research work. Find out when was the place constructed, has it
been renovated since then, who looks after care-taking, what is the atmosphere
like in the complex, what are the problems in the area, etc.
4. Go loan hunting
Once you know what you want it’s time to go
dive at it. Home loans are what is making the dream of owning a own home come
true. There are many banks
offering at various rates and benefits. Take your time and have a clear
understanding of all the options you have available so that you choose the one
that meets your situation best.
5. Check out your CIBIL score
CIBIL score is a credit
score that plays a vital part in an role application. Simply put, it is the
score that notifies if a loan applicant is eligible or not for a loan. The
benefit of having a credit-worthy CIBIL score is that it may help in getting
the loan at a cheaper interest rate.
6. Be updated about interest rates
.
Interestrates are present in various types, from fixed interest and floating
interest rate to fixed-floating interest rates. As the name suggests fixed
interest rate is a locked of interest an applicant has to pay to the bank
whereas in floating the rate depends upon the market. This is highly risky but
at times can turn out to be a good gamble. Fixed-floating is a hybrid of the
two where in the initial term period the rate is fixed and then from a
specified period the rate is based on floating system.
Even if your loan gets approved don’t just hop
into it. Check every nook and corner of the flat and be ensured that everything
is perfectly great and then only finalize your decisions. Check for safety
measures like locks and grills. Check the electric and water facility, the
meter board, etc.
8. Talk to localities
Once satisfied, go and interact with the local
crowd to know about the people living in the building. The idea is not to spy
but to get a basic understanding of what kind of neighborhood you are moving
into.
9. Check the market value
Today what you find lucrative, tomorrow just
might be a pile of waste to you when something better comes along. Find out the
marketprice to know at what cost can you sale in you plan on doing so one fine
day. This gives you a better understanding about your return on investment.
10. Check out history
The history
of the place where you will live is the most important thing to be aware of.
Find out about the authenticity of the land, who it belonged to and how it was
acquired.
Home
shopping is highly time consuming and no matter what you should never rush into
it no matter how irritated you feel. Because at the end of the day, you
literally have to live in it. When making such important decisions, it’s always
better to have a guide along side. You can Find more information on your dream apartment at modernlivingre.com.
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Lifestyle