banner banner

Stay Up-to-Date with Our Blogs & Articles

The texts on this website have been translated using an automated translation tool and its accuracy cannot be guaranteed. We recommend referring to the English version of the content for the most precise information. In the event of any disputes or inconsistencies, the contents in the English language shall be considered final and binding. IIFL HFL disclaims any liability or responsibility in this matter.
Go Back to Main blog page

Tips For Hassle-Free Home Buying

By IIFL Home Loans | Published On Jun 28 2018 3:30 PM 2 min read 38 views 4104 Likes
Share on
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 !

Share on

Tags

apply loan

Quick and Hassle Free Loan Processing

green ad
Prelude to Building Green - IIFL Home Loan's Guide to Sustainable Affordable Housing
Download report

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.