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Steps To Buy Your Dream Home

Steps To Buy Your Dream Home


Steps To Buy Your Dream Home

The Common Dilemma of a consumer is , when to buy? And what to buy? Normally Every one start their thinking is whether shall I buy a flat or plot? Or shall I buy or rent? So first of all ask your self. Why you need a home. What is the urgency to buy? Whether your finances will allow you to buy? Just do it your self. How much rent you are paying for your home now? How much EMI you are going to pay, if you buy a home? So do all the measurements and ask your self twice, discuss with your life partner or guardian. Then take an advice from the expert. Then have a clarity min. Then come out from a dilemma.

There is a simple way of judging whether to buy a property or whether you should lease one now. If you find a house that you would like to stay in, that is close to your workplace or easily accessible from there, then buy it. But remember that the Equated Monthly Installments (EMI) on your property should not be over 40 per cent of your monthly salary. That way you would be comfortable paying it back. You need 10-15 per cent of the cost as your personal contribution to the purchase, as banks do not lend 100 per cent. Banks will provide only 80% of the loan amount, sometimes it depends upon the bank discretion.