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Aspects to be considered by the youth buying a house
Posted on: 05/Sep/2018 11:17:40 AM
Over the last few years, the age limit of the people buying a house has come down in the group of 30-35 years of age. The youth of India have shown great interest and enthusiasm to buy their house. However, the process of buying a house has still not changed despite so many years.
Before executing the plan to buy a house, it is the best-advised to clearly determine the budget. Making a decision after conducting a thorough study of the options available for getting a house loan would b of great help and would also help prevent various financial issues. It is easier to take the decision once the clarity regarding the number of months of the repayment of the housing loan has been clearly decided.
The first two major activities are:
Arranging the finance for paying the advance
Arranging the clear set of documents required for processing the housing loan
It should be clearly planned regarding the location and layout and facilities of the house proposed to buy. Location is one of the prime factors in buying a house. Generally, the youth prefer to buy a house nearer to their workplace.
When investing, it is advisable to consider the major aspects of the facilities of transport, social infrastructure, good shopping complexes, and the entertainment complexes.
The agent you will rely on could be the person to make your house-buying experience a pleasant or an unpleasant one! So, it is ultra-important to select the right agent. The agent must be absolutely familiar of the locality and its market value.
Presently, there are facilities to know the financial plans of the various builders through their websites, So, it is easier to access the information and the true status, reliability, etc., and know. It is not bad either to listen to the recommendations of the agent regarding these issues.
However, there is no compunction to follow the same strictly! Gathering information through consultations with relatives, colleagues, and acquaintances and ascertaining their recommendations is very much worth exploring.
It is wiser to compare the value of the house proposed to be bought by comparing it with the values of the other houses in the location. This would help compare and confirm whether the market value agrees with the value given to you.
If the youth proposing to buy a house consider all the above major factors, it is easier to go ahead with the process of buying the ‘dream house’!
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