EDITIONS

6 easy steps to buy your dream home

Don’t rush to buy a property as this is the most important decision any one will make in their life. You should follow a systematic and step by step approach when you are planning to buy a house.

Harshitha Vardan
20th Jun 2018
  • Share Icon
  • Facebook Icon
  • Twitter Icon
  • LinkedIn Icon
  • Reddit Icon
  • WhatsApp Icon
Share on

Buying a house involves a lot of complicated steps that you need to follow. We all know that purchasing a house of your dreams is one of the toughest and important decisions. The list is so long when we take our steps in the market for searching 3BHK flats for sale in Hyderabad. It’s up to you where you want to buy a house like in which location and at what price. You have to be very clear with your requirements and budget as once the deal is done it cannot change. There are many things that you have to keep in mind before you finalize a property to purchase.

image

You can make a profitable deal by following steps to buy houses which are defined below

1. Check the property first

Make sure that the property you are seeing has a power of attorney and all the legal things. You may face major risks or legal problems if the papers and all the things are not in place. Check the reputation of the builder with which you are coordinating to get the right and legal properties.

2. Check your loan eligibility

Before finalizing a property first, check that for how much loan you are eligible for from a bank. Calculate your income, take care of your savings and check how much EMI you will be getting per month. By checking all these things go for taking a loan for buying a house.

3. Don’t settle down with lender

Most of the banks are ready to give you loan on ready houses but some of the banks doesn’t provide you loan on the under construction or self-constructed property. If the property is too old and is developed under unknown builder then the bank will not provide you loan to buy such a property. There are so many gated community flats for sale in hyderabad which people are looking for buying.

4. How banks calculate your loan eligibility

There are various ways through which you can take loan like some banks will calculate your salary or some will check the income of your spouse to sanction the loan. The best option is to contact a reputed builder who will make every step easier for buying a property of your choice.

5. Calculating loan eligibility criteria

Banks have a same pattern of calculating loan eligibility for example, your salary is 20,000 and your monthly expenses are 18,000 then your capability to pay loan installment is 2000 per month which is called as home loan EMI. In this manner, banks get an estimation of your overall income and ability to fulfill the loan amount. You can buy 4bhk flats for sale in Hyderabad as per your loan eligibility after approving from the bank.

6. Check everywhere to get the best deal

Don’t settle down on first deal that you are making. Look around for different deals, checks different schemes that banks are providing. After analyzing the whole market, go for a final decision that will provide you profit in buying the house of your dreams.

Conclusion

Don’t rush to buy a property as this is the most important decision any one will make in their life. You should follow a systematic and step by step approach when you are planning to buy a house. This will help to avoid all the future loss and problems that may occur if you will choose the wrong path. So just follow the right steps and buy the house of your dreams.

  • Share Icon
  • Facebook Icon
  • Twitter Icon
  • LinkedIn Icon
  • Reddit Icon
  • WhatsApp Icon
Share on
This is a YourStory community post, written by one of our readers.The images and content in this post belong to their respective owners. If you feel that any content posted here is a violation of your copyright, please write to us at mystory@yourstory.com and we will take it down. There has been no commercial exchange by YourStory for the publication of this article.
Report an issue
Authors

Related Tags