5 Tips For First Time Home Buyers To Invest in Pune

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hardik, December 20, 2018

5 Tips For First Time Home Buyers To Invest in Pune

Buying your first home can be long-fetched dream for you, and it’s quite natural to be overwhelmed at the occasion. But, at the same time you need to keep certain precepts in mind before investing your money into a property. Moreover, at a place like Pune, which offers numerous housing projects like Rohan Abhilasha with affordable and luxurious homes, you need to be spot on with your choice of location, budget, size and the mode of financing to purchase your dream home.

Here a few important tips that will help you select the right option from a vast list of real estate offerings in Pune:

Prepare a Budget

You need to be clear on the budget for buying your first house. Assess the exact needs of you and your family members along with your financial capabilities to determine the budget. It can get very easy to be lured by these big, luxurious houses in swanky localities which might be over your budget. But it’s important to stick to your budget, since more often than not, you will require external financing.

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Determine the Area

While the location of your house will largely depend upon your budget, Pune has a lot to offer from affordable housing apartments to luxurious villas close to IT hubs of the city. Localities like Koregaon Park and Bibvewadi are good options as these areas have well-developed infrastructure and are close to schools, hospitals, and entertainment hubs. However, properties at these places are slightly expensive.

Alternatively, you can opt for Hinjawadi and Magarpatta, which offer houses at affordable prices. Outskirts of Pune like Wagholi, Ravet, Undri, Talegaon, and Wakad are also good localities to reside in, with many budget-friendly housing properties.

Analyse the Market Trends

Without proper market research, you could end up paying more than the market average for a specific property. Hence, it’s crucial to analyse the market trends in various localities of Pune before initialising your home-buying process.

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For instance, a 3 BHK flat in a project like Kalpataru Jade located in Baner might cost you around Rs.1 crore while you can get the same-sized property at half the price at Rohan Abhilasha Wagholi. You can take the help of property experts and conduct your own research on the internet about the real estate market to get a fair idea of pricing in your preferred locality.

Consult an Expert Property Advisor

It’s always prudent to hire the services of an expert property advisor to know more about the locality and flexibility in buying and selling properties. Choose a real estate agent who has in-depth knowledge about the area where you are willing to buy a home. They can also help you in getting the best deal with local property dealers, inspection of the property and close the deal without any hassles.

Consider Various Financing Options

Arranging funds to buy your home can be one of your prime headaches. You need to be aware of your financial capabilities and consider many options before choosing the best method to finance your home. You need to be clear whether you can make the full payment at once to buy your house or you will need the help of a loan. If you are opting for a loan, do check out various factors like the eligibility criteria, interest rates, and other benefits before choosing a lender.

You need to be cautious and diligent while choosing the property and its funding method, so as to avoid any further hassles or regrets in future. You can opt for home loans from Bajaj Housing Finance Limited, wherein you will get in-person assistance right from finding the right home to site-visits, and hassle-free documentation.