Complete Guide For The First Time Homebuyers

Buying a home is one of the most significant investments in life. Most homebuyers spent all their savings on buying a house. Some even avail a home loan since a hefty amount is involved in purchasing a house. Owing to all these facts, it is essential that a right and sound choice is made.

Let’s take a look at some tips which would help the first time homebuyer to make a sound purchase and avoid mistakes that may cost him big.

Know About RERA

RERA or Real Estate Regulation Act, 2017 was enforced to safeguard the interests of homebuyers and real estate investors. The following are the benefits the homebuyers are entitled to:

• The homebuyer can withdraw from the residential project if it is not handed over on time. He is entitled to get all the money he has paid with interest.

• The homebuyer can also choose to continue with the residential project if it is not completed on time. However, the real estate developer is liable to provide rent until the project is not completed and handed over.

• RERA also gives the homebuyer the right to have access to all the information related to the residential project in Gurgaon One Sector 84 or any other location for that matter.

Carpet Area VS Super Built-up Area

Super built-up area includes the area within the four walls of the house and the area of the balcony, elevator, lobby, etc. Carpet area is just the area within the four walls of the house. A home buyer is entitled to pay for the carpet area only. So, it is important for a homebuyer buying his first home to know the difference between the two.

Resale Value

The resale value of the residential property is also a crucial consideration to make before investment. Generally, homebuyers consider the current property rates before zeroing in on the apartment. But if the wrong location or residential property is selected, the ultimate sales price may be less than the other properties around it. So, all these factors and resale value should be ascertained.

Get a Second Opinion

Well, the homebuyer may be very excited and feel like zeroing in on the projects in Gurgaon, sector 84. His excitement may lead him to overlook some important facts and details. So, it only makes sense for the homebuyer to get a second opinion, maybe from a relative or friend. Additionally, he can also visit the real estate developer’s previous residential projects to get a better insight into his work.

Now that you know the most crucial points to consider when you are buying a house for the first time, you can make an informed choice. There are many projects in Gurgaon, Such as Gurgaon One by Alpha Corp that you can consider for investment.

Why Residential Properties are Worth Buying in Gurugram?

Every person dreams of owning their own home one day. They work and sweat day and night to full fill this dream. But the day to day expenses often prevent a person to achieve these dreams. So they move to Renting. Although renting seems more feasible and convenient, it is nothing but a temporary fix. Moreover, one can never get the kind of contentment and ownership feeling that one’s own house will bring them.

It seems a lot to invest in an apartment in a single go. But the option of easy monthly installments and low interest loans has made buying an apartment easier. Buying a home is one of the most important decisions in a person’s life and one should put in good thought before investing in it.

Having said that the residential properties in the area of Gurugram are in great demand and it is the new city to invest in. This city offers everything one can dream of but let’s look at some of the main reason to get a dream home in this area

·        Location

Gurugram is located southwest to the national capital of the country, Delhi. It is third largest financial and technical hub of country. It houses more than 250 Fortune 500 companies. It is a great place to reside and have a career in. Moreover, Gurugram has some beautiful areas like the Golf Course Range, Huda City Centre, and City Skyline etc.

·        Amenities

Being the IT city of North India, the city has every amenity one can think of. From entertainment, performing arts, museums, cafes, sports, religious offerings, this city has it all. Hospitals, schools, colleges, ample security with adequate police force are also here for the resident’s service. 

·        Transportation

Getting in and around Gurugram is extremely easy. One can travel via roadways, railways, metros and flights. Thousands of people commute to Gurugram every day. The roads are extensively laid down. Railways and metro both help people travel within and outside the city. A special rapid metro connects sector within Gurugram. The Indira Gandhi International airport is also located just outside the Gurugram city limits.

·        Affordability

Unlike what most potential home buyers would think, affording a home in Gurugram is not that expensive. The city has to offer something for everyone. One can mostly get more than what they bargained for. Options range from an apartment, villa, and bungalow to a builder floor and residential plot amongst other things.

·        Appreciative Investment

The real estate sector keeps seeing its highs and lows every few years. But investing in residential property can never be a wrong move, especially in a city like Gurugram. Being the financial hub of North India, there is a high demand for property in this area. The property prices are going to mostly increase here in the coming areas which means that rents are going to rise too. Having your own home would save money otherwise spent on rent. It will also add profit in terms of the appreciation value in the coming 5-10 years.

With so many facilities and options available, one sure must invest in Gurugram. The path to own your dream home in a beautiful city is just a step away. All you have to do is take a leap.