Buying a home of your own is a difficult decision to make. Sometimes you may feel pressured to buy a house simply because everyone is buying. It is important to think through before you start looking for a house and put your savings into it. You not only have to find the right home but also ensure your financial affordability. Residential projects like Ajmera Lugaano and Skylark Royaume in Bangalore are beautiful and lavish with all the comforts of a lovely home.
Visiting these projects may make you want to own a house there. Here’s a handy checklist to help you understand every important thing before you decide to buy a house:
Review your credit report:
If you are looking to take out a property loan, it is essential to have your CIBIL score above 700. If you have defaulted on your previous loan payments, you should settle them first before applying for a new loan. A low credit score could result in a rejection of your loan application.
To own property, not only will you have to make a down payment of 20% from your own pocket, but every month a fixed equated monthly installment (EMI) will be deducted from your bank account. So, you should cut down on your expenses and find out the best ways to save. There are some additional expenses such as payments for registration, parking space, and maintenance. Be sure to consider these payments and plan to pay them to the builder.
You should search for the perfect home and not settle for anything less. Are you looking for a house in north Bangalore? If yes, then you can consider the project Ajmera Lugaano. It has beautiful deluxe apartments located close to the business district.
Skylark Royaume is yet another affordable, beautiful complex located near the Electronic City. These apartments offer all modern amenities and vast open space.
Be prepared to spend some more to do the interiors of your new house before you move in. This may also include some repair work, and thus hiring a contractor would be a good option. You can buy minimum furniture and get the basic stuff done to settle in your new place. Once you start living, you can gradually buy more furniture and other things according to your need and affordability.
Home loan details:
You should discuss every minute detail of the home loan with the lender. For instance, some lenders like Bajaj Finserv offer top-up loans over and above home loans of up to Rs.3 crore. You can also look for pre-approved loan offers from Bajaj Finserv and save yourself a lot of time. Just share your basic details to check out your pre-approved offer. You can even go for other loans, EMI options, or financial products once you have bought the house.
After you have bought your own home, you will look forward to retreating to it. This pleasure and satisfaction also come with a little work. You will have to mind everything from leaky faucets to a broken almirah to walls that need a paint job to AC maintenance. You need also to consider opting for home insurance.
But when you live in a peaceful and traffic-free area like Ajmera Lugano, you can rest assured of a long-term return on your investment. If your office is in Electronic City, you can also consider buying an apartment in Skylark Royaume. Spread across seven acres of land, the project is close to the proposed metro line. Overall, you should take the time to look for a house to suit your needs. A rushed decision won’t help and may leave you disappointed.