It’s easy to allow your thoughts to run the show as you begin to think of buying your first home. always have a record checks on the builders while purchasing a property, and study their references.

Fully understand the builder : The best location to begin will be an proven firm with a record of good quality and above-board strategies.

Possession : Note the time taken to complete the works of the organisation, as this also assists in taking a decision.

Legal issues: Figure out when there are complaints regarding the company in any court in India and whether there is any illegal charges with any of the business ‘s representatives. Without the guidance of a professional, don’t take your biggest decision.

Undeniably, owning a home is something to be proud of. For many, buying a home means reaching an immense achievement in their life. There are many other facilities of extra costs which can be offered. check for options such as pre-connected telephones, TV and Internet connections, safety devices, home decor, etc. which are taken lightly.

Investments in property are extremely cost intensive, and any errors made during the process will bring the buyer a good deal of troubles. Before you buy a house, it is recommended to consult an attorney so that he might inform you. Some places have unique business and residential reservations and so it is best before you decide to a contract to have all the information.

Buying property can also be complicated. You may confuse yourself with all the legalists.
Evidence of income: payment receipts and form No. 16 for the last three years, TDS approvals for the last three years, bank statements indicating credit entries earned for pay / professional fees for the last 12 months, certification of professional qualification, etc.

The process of moving into your dream location is fascinating, if you are building from scratch or purchasing a pre-existing house. After this, you will be everywhere you’ve always dreamed of being, embraced by the characteristics and people that you like. It will never feel like a chore in your dream home; instead, it should feels like an accomplishment, the fulfilment of all you’ve be aiming for for your entire life. Of course, while you’re in the process of moving, there are realistic factors you’ll have to keep in mind. There are factors like contractors, tools, and place to remember if you’re building from scratch. When you’re just moving, you’re going to start thinking about what needs to happen before you (and probably your family) inhabit the spot. Any way, financing the house will be one of your major aspects.

In the purchase of your house, finance plays a key role. Methods of managing finance and its impact on taxes are crucial aspects to be discussed. By using your own money or you can finance your dream house by taking a loan from a bank.

As home values are going up and up, purchasing a home with your savings alone is very challenging.

It is usually safe to take a loan in one of the leading banks, but it is always important to keep up to date with the investments and tax rates. You may either choose for a rate of interest that is fixed or floating. Generally, the fixed rate is 50-75 basis points greater than that of the variable rate. Processing fees are paid by banking firms for title statement verification, financial results, flat-rate valuation, and so on. Up to 1 percent of the loan amount may be this fee. After weighing different things such as repayment ability per month, earning ability in the next few years, various financial obligations such as marriages, child education, the duration of the loan should be determined by the buye.

Registration of leave and license is mandatory, if the same is not done the landlord would be prosecuted and on conviction he’s subject to up to three months imprisonment or be subject to fine not exceeding Rs.5000/- or with both.

Sinking fund is collected to keep sufficient funds with the society, so that building can be reconstructed in the future.

For long-term capital gain, you must hold the property for more than three years. In case you sell the property in less than three years time then it would become short-term Capital Gain.