Things to consider when buying your first home
Buying your first home is a HUGE task. Understanding the basics and educating oneself of the preliminary pre-requisites of selecting your first humble abode that actually is ‘Your Own Kingdom’ is a must. We call it ‘Your Kingdom’, as you are the king or the queen of this domain. It’s your blood, hard-work and toil that will reap rewards in your later years. You are the master of this ‘Kingdom’. Let’s take you through the journey of ‘finding your Kingdom’. Here are the 3 most important things that must be considered.
1. Types of residential property
There are 3 types of residential properties that one can choose from- Ready, Resale and Under development. Are you one of those who is unsure about which way you should swing, whether you should look at buying an under-construction property or would a ready-to-move-in suit you better? Have you ever considered a resale property? Let’s help you get some clarity and understanding. Since you are looking for your first home, consider the following –
Return on investment
The property price of re-sale properties will be available on market rate, while under-construction projects might have discounts on the overall market rate. The price of a ready to move-in house will for sure be higher that market rate. But you also have to consider the fact that ready to move-in homes are a very secure option when it comes to funds security. Similarly, construction quality would also vary depending on the kind of property you opt for. Return on investment on an under construction property will always be higher than that of a re-sale or a ready home.
Under-construction project is a popular option for potential home buyers today, as one can save up on the cost of a property by investing at the pre-launch stage of a project. In the case of ready to move-in homes, buyers may need to make the entire payment in a short period of time, and that is not always feasible. Re-sale category homes cost lesser than existing ready-to-move-in homes but this deal is beneficial only when the project’s construction quality is good.
Think. Consider everything before you zero in on the kind of home you would like to invest in.
2. Kind of structure
What is the kind of structure you would prefer to pick as your first home? Your budget will play a big part in this. Do you want a flat, a bungalow, a penthouse, a lower ground floor, a row house, a builder floor, an apartment floor or a studio apartment? There are many factors which you need to consider before deciding the type of house. From the size of your family to your professional needs, the size and type of home depends on many factors. Ask yourself and your spouse the following questions- are you looking at expanding the size of your family while you are in this house? Do you like big bathrooms? Would you rather have a huge kitchen or a grand bedroom? Consider the advantages and disadvantages of all options before deciding.
3. Selecting the right developer
A lot of research should be undertaken while selecting the right developer. You want to select the right developer or builder who has a consistent track record in terms of delivery, commitment, design and of course construction quality. Projects that are environmentally sensitive with intelligently designed buildings are more sustainable. Put your trust in developers who have a track record of behaving with honesty, integrity and ethics.
One developer that has a legacy of fulfilling every expectation of their customers through innovative, world-class solutions is, The Lodha Group. At Lodha, you can be sure of ‘finding your Kingdom’. They have a wide range of properties that are built to suit your family’s needs, with amenities that make you feel like a King or Queen of your ‘Kingdom’. Lodha is a brand that has always been associated with quality, dependability and customer delight. Providing comfortable lifestyle to its customers consistently for years, this is one brand that first time home buyers can trust to build their ‘Dream Kingdom’. They have an extremely systematic approach where every customer has a relationship manager who undertakes a step-by-step initiation of the customer with their project.
At Lodha, they don’t just build buildings, they build these kingdoms- your kingdoms. The place of your imagination can now be a reality, a world to call your own, a haven you rule. It takes a lot of courage to make a decision to invest in your first home, ‘Your Kingdom.’ It is a dream that you have been nurturing for years. Make sure you choose the right partners while signing on the dotted line. Click here to know more.
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