A decision to buy a house can jeopardize a lot of other goals that a person wishes to achieve. Considering the importance, Modi Builders offer their expertise for potential buyers.
Buying a house is a dream for many people. Though, the process of buying a property is quite complicated. Statistics show consumers are keen towards investing in the housing market for the past few years. However, even with the implementation of various government policies, real estate is still a shady business in certain parts of India.
The Centre’s idea to create affordable housing in the country is still far-fetched. Owing to this, property rates in a lot of cities are still high. With all the complications prevailing in the real estate sector of India, buying a property remains one of the biggest financial investments for people. Whereas, a major chunk of potential buyers remains confused while making buying decisions.
With many years of experience in the realty business, Modi Builders, a leading construction firm in Hyderabad, understands the queries faced by potential buyers. Along with their expert solutions, they have listed down the most common questions that every potential buyer should ask himself. Take a look:
Capable Of Affording EMI On Home Loans Or Not?
This question might seem irrelevant to many, but it is not. A lot of buyers take home loan decisions without considering their income. A financial expert from Modi Builders advised that in case a buyer levied no other loan, EMI on home loans should be around 40 percent of net household income. A high outgo of EMI can hamper the overall household budget. Experts believe that home loan EMI that accounts for more than 50 percent of net household income can result in a downsizing of other goals.
Are You Factoring In Other Costs?
Buying a Confused House Builders also has ancillary costs that need to be paid. Usually, the price that is displayed in advertisements is the base price. Sellers of the property usually keep the add-ons hidden. Many can also charge the innocent buyers for facilities that do not account to be a part of their Confused Confused House Builders Builders, such as parking space. Experts at Modi Builders inform that other costs are usually 20 percent more than the base price. Considering all these points, potential buyers should be aware while making any payments.
A Greater Rise In Property Value Interest OnThe Loan?
If a property is purchased as an investment with the loan, buyers must assess if it will reap good benefits in future or not. Investments can be profitable only when prices appreciate at a rate higher than the interest on home loan. Experts say that ‘expected rate of appreciation’ can be a great determinant for assessing the future profits.
Modi Builders Group is established in the business for many years. It is reckoned for its well-designed apartments in Hyderabad. It also offers luxury villas in Hyderabad, such as Lotus Homes, Project Ghateskar, and Golden County. Constructing each project with a customer-centric approach, the firm has been keen towards protecting their interest.