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7 Things To Keep In Mind When Buying A New Home

23 Oct 2017


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7 Things To Keep In Mind When Buying A New HomeBuying a new home is a considerable financial undertaking and an important life decision. It is therefore essential for prospective homebuyers to keep in mind certain aspects about the home they wish to buy. 

 

Here are 7 important things to take into consideration before buying a new home:

 

1. Location: Choose a locality with good infrastructure and a project that has quick and easy connectivity to schools, hospitals, shopping malls and multiplexes. 

 

2. Size: Draw up a ‘needs vs. wants’ list to understand your requirements in terms of apartment size. Make sure to factor in your needs for up to five to ten years down the line. 

 

3. Furnishings: Assess the interiors of the home and think about how you would like to furnish it. Furnishing your home intelligently can help you save a lot of money.

 

4. Upkeep: Estimate the costs of maintenance and repairs, depending on the state of the apartment. These could add up to a considerable amount in the long run.

 

5. Amenities: In-house amenities offered by the residential project, such as swimming pool, gymnasium, clubhouse, etc., are ideal, so make sure to look out for those.

 

6. Finances: Assess your home loan offers, financial situation and stable sources of income before you decide to go ahead with the purchase.

 

7. Returns: Evaluate the return on investment when scouting for a home. The factors that influence the potential returns are location, connectivity, potential rental income, upcoming infrastructural development, etc.

 

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