Let’s Start to Plan Home Buying Strategy

Buying a home is a major decision that needs proper planning and execution. For a first time buyer, the process may look immense and complicated. However, if you have your priorities and plans in place, buying a house can be a cakewalk. Developing a strategy for buying a house is a stage by stage process. Though we can compartmentalize each phase of the purchase planning, these stages are in fact mutually inclusive. Let us examine how to go about planning for your home buying, taking tips from the experts at Sulekha Properties.

Budget considerations and sources of finance

One of the first things that a home buyer needs to decide is how much they can spend on a home. This will be the foundation on which all other stages of the purchase planning will rest. When you consider the budget, it should include all costs and prices related to buying a home like down payment, taxes, service charges, etc. It should also include any repairs or renovations that may be required for an older property.

Once the prospective buyer has set a goal in terms of the expenditure, the next step is to plan the sources of finance. Home loans, savings, and other sources that can provide funds for purchase must be clearly marked with the percentage of contribution from each source. Another aspect of planning the financial side of the purchase is the time period taken to arrange the funds. For some buyers, it may take years to save a considerable amount every month to buy a house. Have clear targets in terms of monthly or annual savings.

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Type of house and facilities

Your budget will decide what type of residential property you can have. Likewise, the house you choose or want can influence your budget plans. Whichever way it works, make sure that you are choosing a house that meets your requirements and expectations.

Location

When you consider the location where you want to buy a property, do not stick to any particular place. For example, you may be looking for house for sale in Coimbatore. If you cannot find any suitable property, do not just end the search there. It is possible that there are many other properties in the nearby areas that meet your needs. Always be open to search in areas beyond your first choice.

How to go about

You may want to have a clear planning about how to start the actual process of buying. If you are confident enough about your understanding of the real estate market or the purchase procedures, you can start on your own. Otherwise, consider the services of a real estate agent who can chart a better plan for you right from the start.

Property Options in Dwarka for Buyers and Investors

Looking for property investment in Dwarka is one of the best decisions you can make as an investor looking at options in Delhi NCR. While Delhi NCR has a striving real estate market with options galore from Noida to Faridabad and Gurgaon to Sonepat, Dwarka wins hands down when it comes to location owing to the central location in the heart of the city. On the downside however Dwarka property prices have already escalated to higher levels so it may not be a good investment options for budgeted investors.

Real estate trends at portals like Sulekha Properties and many others reveal that even with slightly higher prices compared to other regions in Delhi NC, Dwarka remains a top ranked investment destination for both buyers looking at options for self use and investors alike. The large number of new and resale options along with close access to all parts of Delhi NCR make Dwarka a front ranked destination in the real estate landscape in the city.

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Affordable housing projects: As a new trend there are many builders and developers focusing exclusively on affordable housing projects in the area. This is a golden opportunity for people with limited budget to get a flat in Dwarka, something which was not possible earlier owing to increase in average prices of property.

High end luxury housing: If you are looking for high end luxury housing Dwarka has options for you. From high end villas to penthouses and other exotic homes Dwarka has many options for high end luxury buyers. Builders and developers who are reputed in the world of luxury housing have active projects in Dwarka making it easy for buyers to pick and choose the best project as per their needs and budget.

Availability of both Plots and flats: While it may not be possible to get plots or independent houses at cost effective rates in Delhi anymore Dwarka is a slightly different. One can get options for flats, high rise apartments, plots and independent housing making it an all round area offering a real estate solution for all the needs of various buyers and investors alike.

Good Rental upside: Dwarka has good rental upside which makes it a preferred destination for many investors. Dwarka rental prices are increasing but still remain much more economical than most other parts of Delhi NCR which makes it attractive for tenets as well. This high upside in rentals makes the area an apt investment destination when it comes to residential housing projects.

 

Emerging Affordable House Segment in Mumbai

Mumbai real estate prices have always been on the higher side. The lack of adequate land due to close proximity to the sea has meant Mumbai real estate developers had to go vertical instead of horizontal growth. With limited options for growth the property prices have witnessed a massive rise in the past. So much so that property prices remained high when the market was sluggish and buyers were hard to come by.

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Thankfully with the emergence of the Mumbai MMR corridor the emergence of affordable housing in Mumbai has become easily available. Owning an individual house in Mumbai which was earlier a dream even for the super rich is now made possible thanks to new projects in the MMR region. The areas from Thane to Panvel and from Navi Mumbai to Khopoli have all witnessed a surge in real estate enquires. Mumbra and Kharghar have emerged as the two hotspots when it comes to affordable housing in the region. Property experts at property marketplaces like property.sulekha.com agree that Mumbai has now a strong market for affordable houses a segment which was almost non existence some years ago.

Looking to buy affordable homes in Mumbai like most others? Keep the following in mind to make sure you not only get a value for money deal but also make a good investment that holds good for the future.

Shortlist options wisely: There are many areas that offer affordable housing but each area has its own merits and demerits. Just choosing an area because of the pricing alone may not be a good decision so check on other essential aspects as ease of travelling to and fro and connectivity to all other cities and towns including Mumbai along with any security concerns.

Opt for community housing: Instead of seeking plot and then do construction opt for an affordable home in a community housing should be preferred. With such community housing the security is much more established while you do not hold the risk of getting clearances and NOCs for construction activity.

Focus on security: A lot of affordable homes especially plots which are available on a budget are located in the interiors with not much active population. While your affordable plot may be a part of a good community some years down the line when more people shift to the area, keep the security concerns in mind when making a purchase for such affordable houses especially in MMR region.