Tips For Hassle-Free Home Buying
First time home buyers often face difficulties while choosing the perfect home for their loved ones. Right from scouting the best property to approaching a financial institution, each step requires cautious and calculative approach. There is plenty of advice coming in from all directions but what does it take to have a truly hassle free home buying experience?
Budget:Home buyers should decide on a home basis their existing liabilities and income. It is advised to avoid a home which costs thrice the annual income of a family. Also, home buyers should keep in mind down payment, brokerage and stamp duty costs.
Research:First time home buyers should do a thorough research of the market. Keeping track of property prices, interest rates and latest government schemes proves beneficial in understanding the market and taking a good decision.
Invest Early:It is advised to invest early in projects since many real estate developers offer exclusive discounts and offer for early customers.
Home Loan Eligibility:Before applying for a loan, home buyers should check their eligibility. Based on CIBIL score and income, customers can approximate their home loan eligibility.
Pre-Approval From Lender:To save time and effort it is advised to get pre-approval from lenders before looking for a home to buy. Home buyers can also take help from financial institutions on their loan eligibility and sanction amount basis income.
After following the mentioned tips on home buying, buyers can evaluate requirements and apply for one online with IIFL Home Loans !
Disclaimer: The information contained in this post is for general information purposes only. IIFL Finance Limited (including its associates and affiliates) ("the Company") assumes no liability or responsibility for any errors or omissions in the contents of this post and under no circumstances shall the Company be liable for any damage, loss, injury or disappointment etc. suffered by any reader. All information in this post is provided "as is", with no guarantee of completeness, accuracy, timeliness or of the results etc. obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. Given the changing nature of laws, rules and regulations, there may be delays, omissions or inaccuracies in the information contained in this post. The information on this post is provided with the understanding that the Company is not herein engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers. This post may contain views and opinions which are those of the authors and do not necessarily reflect the official policy or position of any other agency or organization. This post may also contain links to external websites that are not provided or maintained by or in any way affiliated with the Company and the Company does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. Any/ all (Gold/ Personal/ Business) loan product specifications and information that maybe stated in this post are subject to change from time to time, readers are advised to reach out to the Company for current specifications of the said (Gold/ Personal/ Business) loan.
