Hi
I’m exploring to buy a home in Bangalore or Hyderabad. I want to make sure what the fundamental aspects that need to keep in my mind while buying a home?
I will take home loan. Let’s say 1cr home – 70% would be the loan. How can optimise for capital and get the best deal? How to search for available options?
Hi Jith,
Welcome to the community.
On the property:
Basic checks across all apartment types and cities is to check for encumbrances and title deed history.
Other factors such as market price, builder reputation (if under construction), sharing agreements between landowner and builder, vaastu etc can all be part of your decision making.
For home loan:
The first thing you need to look at is your profile, and what is your eligibility for a loan.
This includes your income, current expenses, credit score, any other loans, property value you are buying.
Next, looking at the property - type of property, builder, value (market, agreement) etc, banks will make you loan offers. Here you can also ask for your requirements such as higher LTV or lower ROI.
Then once you select the offer, every bank has its own process and they will take you through it.