Attempting to buy a home can be overwhelming, even more so with the increasing rate of interest. Goel Ganga Developments Director Mr. Anurag Goel shares some tips for new homebuyers in India. He asks to analyse one’s self, understand the exact needs such as house size, the budget, and even amenities required. But location is very important; considerations as to how accessible services are, if it is a safe area, and the potential for growth of the location must be taken into account.
Mr. Goel adds that one should make decisions based on facts and figures, such as looking at the demand and supply of a particular area, as well as the infrastructure development in the area when looking out for appreciation in the future. When considering a lender, buyers are advised to look at the rates of interest, processing fees, and other charges and how they compare with the other lenders. Given these considerations, first time homebuyers will be able to make sensible and low exposure choices even in the current hostile environment.
For more expert advice, Goel encourages speaking to other home loan borrowers for practical tips.
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