Have you been planning to buy a house from a very long time? If yes, you have landed at the right place! We do a lot of planning when it comes to making huge decisions in our life. Buying your own house is definitely a huge decision which takes a lot of planning and guts. Usually when you hunt for an ideal property in the market, you come across a lot of huddles and situations you must have never thought of. Possibilities like, the property not being at the same price as advertised, higher down payments, club house charges, etc. can bring your house buying moral down.
Not many of us have experience of entering in to this house hunting jungle and come out victorious. You will need to go through ruff terrains of property price, survive the extra charges storm and swim through the ocean of loan procedure to call a property as your home.
If you are thinking of buying a property in 2018, this could turn out to be the best decision of your life which you can inherit in the future. We will show you how,
It’s easy to qualify for a home loan
There used to be a time, where idea of taking a loan used to scare people, hence making them drop the home buying plan. In today’s competitive market getting a house loan is as easy as buying a consumer durable product from any shop. When you start your hunt, you will get a lot of customized home loan options for you to make your life easy, SBI home loans is one of the best home loan product available in the market.
Low interest rates
This can be one of the greatest reasons why people are inclined towards making a property purchase. About a decade ago, the interest rate was as fix as 11% per annum. But today, you get offers from various banks and other non-banking financial companies with interest rates being as low as 6.5%. This can definitely light your pockets in the long run.
The Prices are not rising on a faster pace
The property market has never been so still. If you are looking to buy a property and have been researching on one particular area, you must have noticed that the property rates have not increased that much. This gives you leverage to buy the property at a good price.
Low down payments
This is new trend happening in the market. Earlier, the minimum slab of down payment used to be 20%. Nowadays, you can see pictures, campaigns and advertisements of various builders and developers offering low down payment options. The down payment can go as low as 1%. Yes! You saw that right! Now you can book and own a house at 1% down payment.
High credit score
This is one of the best parts of purchasing a house in the year 2018. Earlier, the criteria for qualifying on credit score used to be tuff and a very few used to make that cut, blocking chances of people buying the property. But very recently, the banks have made it a bit lenient for people having low cibil score and have started giving out loans. Don’t be mistaken, if you are getting a loan despite of your low cibil score, you will need to pay high interest rates as compared to market standards.
With such great property options and loan offers in place, the government providing you subsidies is a cherry on top of your property ice cream. There are government schemes in place to encourage people to buy their first prope1rty. This can be one of the good reasons why you should make a house purchase in 2018.
Hire a property expert
A property expert can help you in many ways which includes house hunting, loan process, home registration, etc. Not only will they help you with such procedures, they will also help you with any legal issues associated to property buying. If you are making a house purchase for the first time in your life, you should definitely seek help.
Last but not the least, buying a house in any given time is a huge commitment. You cannot run from it and if you fail in this commitment, the loss will be huge. Keep your options open, don’t stress to much and get property buying.
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