All About the Affordability Factor in Buying a Home

Buying a home in Mumbai is a bit of an emotional process. But when look to the practical side of it and keep all the emotions aside for a while, one ought to make a check list of all the things to consider before he/she steps into the process of buying one. Realtors often have the tendency of luring people into buying a house that is nowhere close to ones expectations and also beyond the desired range.To make sure you not fall into the trap of your own expectations when looking for affordable housing beyond Thane, here is a list of the following things we’ve jotted down to help you prepare better.

First things first, be sure about the area you want to buy an apartment in. This may require you to spend some time in that area or at least conduct a basic research whilst you’re at home. Visit as many places as you can before you finalize the property that fits your criteria, just to get a better idea of what you’re investing into.

Before you get linked with the builder for your dream home, it is necessary that you go through the builder’s history to get a better understanding of his trustworthiness. You being the buyer or the investor, it is of utmost importance that you make visits to some of his sites and then decide for yourself about going further in the process. By checking through the different projects you will be in a better position to make a proper judgement about the amenities and pricing.

Access the financial burdens before taking the ownership of a house. When budgeting for the house, don’t stop with principal, interest, taxes and insurance; add in utilities, cost of commuting and upgrades. Check with the utility companies that service the house you are considering and ask for an estimate of what the cost will be, whether there are any budget plans available, etc. Jot down all the expenses and see if you can still afford the house.

A house is probably the largest purchase you will ever make in your life, so make sure you are thorough with the terms and conditions before making the investment. If you don’t understand any of the terms, keep asking for clarifications of all your doubts before you take your big step.

In today’s world, the increase in industrial estate may be a downer and might put a hole in your budget. A house is an emotional investment, and buyers are often tickled to extend their budget for a house of their choice. Financing a home is a big game, and builders try to convince home buyers about the reducing burden of moving into a new home. You will hear this mantra constantly in the real estate market: “Location, location, location.” The location of a property can make all the difference in its value and livability. Many homes sit within crime-laden neighborhoods. Many homes sit within poor school districts. Many homes are located in the flight path of the airport. Many homes are located next door to manufacturing plants.

The simple truth is that once invested in, you cannot readily relocate a house just like that. So, it is better to consider location first, before falling in love with a particular property. After all, you obviously wouldn’t want to buy a house and then regret about not considering all the important factors, right? So make sure you don’t flow away with the things luring you on the way to buying your dream house in the beginning just so you can have a satisfied ending.

Here at AND, our only true mission is to provide homes that meet all our customer’s need and yet be affordable. So if you’re someone looking for affordable housing beyond Thane, you must know you’re at the right place.

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