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Success Tips For Young First-Time Home Buyers
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2BHK or 3BHK Plot or a flat Under construction or completed project Such questions arise in the mind of every home buyer when he/she sets out in search of a new home. If you are looking to buy a home and have similar questions in mind, then please read on!
Location:
It is advisable to first decide the location of the property where you feel comfortable in investing. Studying potential growth corridors of the locality plays a positive factor in the long run. Advantageous location of property leads to the appreciation of property price in the future. Property located near employment centers, shopping hubs, hospitals, and educational institutions have better rental value.
Start Early:
It is important to invest at the right age. Experts say that investing at an ideal age gives home buyers adequate time to manage costs and expenses with added benefits.
Flat or Plot:
Young home buyers often choose flats since they serve well in short-term and are promise positive returns in the future. Facilities such as electricity, water supply, power back-up, and security come as a standard feature in many apartment townships.
Investment Prospects:
Apart from the location of the property, there are other factors will play a significant role in the future appreciation of property. Check the track record of the developer, amenities offered, proper documentation and size of units before investing in any flat or plot.
Amenities:
Price of property and its resale value depends on the amenities offered. Well maintained facilities and services raise the value of projects. Home buyers should look out for projects that offer as many amenities as possible.
As a young home buyer looking to buy a new home, the above tips can prove beneficial for you. Apart from these, you should look for projects that are RERA compliant so that you are assured of timely possession and promised amenities.
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Disclaimer: The information contained in this post is for general information purposes only. IIFL Home 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 (Home/ Loan Against Property/ Secured Business Loan/ Balance Transfer/ Home Improvement Loan/ NRI Home Loan/ Home Loan for Uniformed Services) loan product specifications and information that may be 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 (Home/ Loan Against Property/ Secured Business Loan/ Balance Transfer/ Home Improvement Loan/ NRI Home Loan/ Home Loan for Uniformed Services) loan.