You never know when you are ready to big things in life. Most times we fail to understand there is immense possibility in this moment itself. Buying a home has always been a big decision. You could opt to own a 2 bhk / 3 bhk home in Bangalore or with precise understanding own a 2bhk / 3bhk luxury home that is beautiful with a serene surrounding and convenient in more ways than ten. Clearly knowing the game is the key to playing it well.
Here’s 5 Must Know Things Before for home buyers in Bangalore
1.Locality: Knowing the locality before investing goes a long way in making a smart choice. Every product has a life cycle which at the peak of its powers wont grow further. It’s the same rule with localities. You could invest in a popular and already crowded area like Jaynagar or look into up and coming areas with an absolute promise of a substantial rate of return like Whitefield or Maratahalli. Plus these up and coming areas are also known to have the erstwhile Bangalore charm with their serene surroundings and much peaceful ways of life.
2.Pre Approved Mortgage: People get serious about a transaction when they know you are genuinely interested. Besides making things a lot more convenient when you have actually zeroed in one apartment, a pre approved mortgage loan makes you a more serious prospect for the seller who would now be willing to give you the best offer possible. You are now in a much better position to know how much of a credit you will be able to get and shortlist your choices based on it.
3.CIBIL Score: TransUnion CIBIL Limited (Formerly: Credit Information Bureau (India) Limited is a mandatory score you need to apply for any kind of loan. The score ranges between 300 and 900 and it is to be noted here that 79% of the loans that get approved have scores over 750. So it is easy to understand what’s being implied here – higher the score, more chances you have to get that approval for loan. Always pays to be sincere and diligent, yeah.
4.Convenience: Often times, we all fall for what is a seemingly irresistible offer and overweigh them for what is convenience. Apartments these days offer all kinds of conveniences making life a lot more easier. Choosing an apartment that is more proximate to work and school may be a game changer. Comparing the various conveniences / amenities offered by the apartments you have on your radar, analysing the surcharges for the same and quality of maintenance may prove much helpful in the long run.
5.Price: Always an important aspect, its funny how, price rises, differs or just stays stagnant for a long time. Bangalore properties have always had this tendency to rise constantly. It is worth noting that a sq.ft for an apartment in a central part of the city like Sadashivnagar or Koramangala costs about 25000 INR while up and coming areas like Whiitefield cost about 6000 INR given the substantially “young age” of these areas – Probably why more and more modern families are choosing to live in 2bhk / 3bhk apartments in such areas like Hosur, Maratahalli or Whitefield. Most importantly, while areas like Sadashivnagar have the least of potential to rise in value given they already seem to have zenith, these up and coming areas can only grow in demand, value and price.