Purchasing your very first property signifies a major landmark in life. In case you’ve been renting, moving to your place is usually an upgrade. With this in mind, the urge to buy your first property can be fulfilled with wonder and curiosity. From picking an ideal place and a constructor to understanding the financing structure, such as first time home buyer loans and many more, attention to detail at every step is paramount.
Home constructors such as Srijan Realty have simplified the process by putting up good projects at strategic places, and having a guided checklist of pertinent questions ensures you do not make uninformed choices. Take a look at some of the most critical questions that every first time home buyer should ask before signing the papers.
Q1. What is the total budget including the hidden costs?
It is always important to know the pricing list of the property. However, when you go to buy or invest in a property, there are other costs included as well. Such as GST, registration fees, maintenance deposits, stamp duty, parking charges and brokerage fees.
As a home buyer, you need to make sure to ask the developer for a detailed breakdown to prevent unexpected costs.
Q2. Is the build RERA registered?
Always look for the projects that are registered under the Real Estate Regulatory Authority (RERA). Reliable and reputed builders like Srijan Realty ensure that the residential and commercial projects follow every norm and regulation, which supports legal protection and assurance of quality to every buyer.
Q3. What types of options can I get for financing if I am a first time home buyer?
When looking into loans for first-time home buyers, start with the banks that have partnered with the builders for loan disbursement. After that, check if there are any subsidies or government schemes that you might qualify for.
Q4. What is the timeline for possession and penalty clauses?
Timeline possession is important. Get to know the completion date from the builder. For instance, Srijan Realty is well known for its transparency and good relations with the buyers.
Q5. Can I see the floor plan, master plan and legal documents?
Absolutely mandatory to ask for the floor plans, master plans and land title documents, which you can easily get to see for Srijan Realty.
Q6. What are the maintenance costs and amenities?
It is always better to clarify what the maintenance charges will be, whether monthly or annually. If you are a modern home buyer, seeking premium amenities like swimming pools, community halls, gymnasiums, indoor play zones, walking zones, etc, is common.
Q7. Is there any potential for rental and resale?
Though you are buying the home for the first time by yourself, it is smart enough to consider the property for future values. Always discuss the expected appreciation rates, especially when you are owning it in a developed area like where Srijan Realty operates.
FAQs
- How to apply for a first time home buyer loan?
You need to visit the bank or the builder’s loan partner. Then submit your income proof, identity documents and property details.
- Are there any benefits of being a first time home buyer?
Yes, sometimes as a first time home buyer gets to avail a chance of special loan schemes with lower interest rates and government subsidies to lessen the financial burden.
- Is it possible to buy a home with no real estate experience?
Absolutely, only it is important to partner with a reputed developer like Srijan Realty and ask righteous questions for a good purchase.
- How to ensure the builder is reliable?
You need to check for RERA registration, followed by project approvals, history of past project delivery and customer reviews.
Final Thoughts
The prospect of becoming a first time home buyer is important, but ensuring an informed investment brings important clarity, assurance, and peace of mind. After a thorough consultation, builders such as Srijan Realty offer reliable after sale services, which brings simplicity to the buying process, knowing what questions to pose aids in getting more genuine information from the developers.
Whether it’s a luxury flat, riverside property or even a perfectly cosy 2 BHK, with the right list of questions for these trusted developers, there is zero chance of getting lost during the investment journey.
