What first? Identify property first or organize your funds first.....
Is it a tricky question, that whether to identify a Real estate property and then arrange for finances? Normally what people do is they window shop for many days, see various locations, meet developers and then come back to see whether they can buy the identified property. And only then they know that they have to actually stretch by about 10 to 15% minimum or even more. This is case one for people who are going to self finance. But what about those who have to depend on the housing loan or any other assistance. I have come across people who do window shopping for property, identify it and do not give importance to know their eligibility from a housing finance company (HFC). Now when they go the HFC and they learn that they are falling short by 10 to 15% of total cost, because they have identified a property of say Rs. X + 20%X.
Now, lets make this very simple. You know your earning potential, your cash reserves, then you need to go to an HFC and get an in principle sanction letter for x amount. so you know for sure that you have to arrange the margin money i.e. total cost minus the loan amount = Margin money. You should look for a property in this budget only with a slight variation of 1 to 2 % which most of buyers can bridge and close.
It is much more easier to buy a property when you have a definite budget and got the means of arranging it.
Is it a tricky question, that whether to identify a Real estate property and then arrange for finances? Normally what people do is they window shop for many days, see various locations, meet developers and then come back to see whether they can buy the identified property. And only then they know that they have to actually stretch by about 10 to 15% minimum or even more. This is case one for people who are going to self finance. But what about those who have to depend on the housing loan or any other assistance. I have come across people who do window shopping for property, identify it and do not give importance to know their eligibility from a housing finance company (HFC). Now when they go the HFC and they learn that they are falling short by 10 to 15% of total cost, because they have identified a property of say Rs. X + 20%X.
Now, lets make this very simple. You know your earning potential, your cash reserves, then you need to go to an HFC and get an in principle sanction letter for x amount. so you know for sure that you have to arrange the margin money i.e. total cost minus the loan amount = Margin money. You should look for a property in this budget only with a slight variation of 1 to 2 % which most of buyers can bridge and close.
It is much more easier to buy a property when you have a definite budget and got the means of arranging it.
i,e, you do not have disappointments later.
Real Estate has products which have the most variables in terms of areas, rates, specifications, locations, developer brand, possession time limits, amenities, specifications, carpet and sale areas, elevations, flat designs, Vastu, access roads, floors, garden and non garden facing, etc, etc.
So it is always good to have your buying capacity defined, preferences, likes and dislikes items and then look out for properties.
Happy property shopping......
Real estate property includes many types of property like land, commercial, industrial, housing and so on. Investor can invest in any property and can get good return.
ReplyDeleteRed Deer Foreclosures aim to act as a resource to those interested in buying and selling property in Red Deer Foreclosures. Our website displays every property listed for sale in Red Deer Foreclosures and surrounding areas and is updated daily with virtually all houses, condominiums, duplexes, townhouses, acreages and luxury real estate listed for sale in Red Deer Foreclosures.
ReplyDeleteNo doubt, it is always good to buy property when you have total budget and amount with you. Because, the property rate vary according to location or area. When you have appropriate amount then you need not to take home loan etc. therefore, you are also safe from interest rates.
ReplyDeleteProperties For Sale in Pune
Buying a property in Pune is quite difficult. Sometimes brokers also do not provide us the detailed information. So it has changed the lifestyle of the builder and the customer to rely on online marketing sites to purchase the property.
ReplyDeleteBuy Property in Pune
I was working and suddenly I visit your site frequently and recommended it to me to read also. The writing style is superior and the content is relevant. Thanks for the insight you provide the readers!
ReplyDeleteFlat For Sale in Pune
Recently conducted property exhibition- Pune Property Expo, received a big-round of welcome as many buyers and investors visited the show.
ReplyDeletePune Commercial Property
their are various properties in pune from lushlife to invest and buy for more info just check
ReplyDeletehttp://www.lushlife.co.in
Really nice info about real estate, conversation about the real estate projects is also very helpful for buyers and investors. Ace Group is top builders in Noida India for comfortable and pleasant residential real estate projects, offers Apartments in Noida at affordable price and in most preferred location of Delhi NCR.
ReplyDeleteGood informative words regarding real estate projects thanks for sharing, looking for your new updates. Buy new residential projects in greater noida west at reasonable rate with Strategic Group in Royal Court luxury project.
ReplyDeleteI am thankful for your effort in this blog, very helpful. looking for residential & commercial real estate.
ReplyDeleteSikka Kimaantra Greens
Sikka Kimaantra Greens Noida
http://www.sikkakimaantragreens.com/
Your knowledge of this subject comes through clearly in this article. I am also want to add some more information about property at Ghaziabad.
ReplyDeleteMigsun Atharva
Migsun Atharva Ghaziabad
http://www.migsunatharvarajnagar.in/
Nice Article! Keep Sharing This Kind of useful Information. If anyone want to buy property at Noida please visit on http://www.arihantambarnoida.com/
ReplyDeleteArihant Ambar
Arihant Ambar Noida
Now, lets make this very simple. You know your earning potential, your cash reserves, then you need to go to an HFC and get an in principle sanction letter for x amount. vintage pearl necklace , handmade shoes online , anklets for women , embroidered purses and bags , embroidered leather belt , casual belts for jeans , belt boots thigh high , ladies bracelet so you know for sure that you have to arrange the margin money i.e. total cost minus the loan amount = Margin money. You should look for a property in this budget only with a slight variation of 1 to 2 % which most of buyers can bridge and close.
ReplyDeleteIf you want to buy the city of your dreams then Godrej Nirvaan Price it will be the best house for you.
ReplyDelete