A guide to buying your first home in today’s market in india

1. Define Your Requirements:

• Type of Home: Villas, bungalows, penthouses, and good ol’ apartment buildings—these are the stars of the residential show. Apartments, in particular, steal the spotlight in India. They come in all flavors—from affordable to premium to downright luxurious. Be realistic about your budget and choose wisely.
• Size and Configuration: Picture your dream home. Is it a cozy 1 BHK for you and your succulents, or a spacious 3 BHK for the whole extended family? Consider carpet area (the actual usable space), built-up area, and super built area. RERA (Real Estate Regulatory Authority) has made it mandatory for builders to spill the beans on carpet area, so you’ll know exactly what you’re getting¹.

2. Budget Like a Pro:

• Begin with Budgeting: Channel your inner financial wizard. Calculate what you can comfortably afford. Remember, it’s not just the mortgage; there are property taxes, insurance, and maybe even an HOA fee lurking in the shadows.
• Check Your CIBIL Score: Your credit score is like your home-buying superhero cape. Make sure it’s ready to swoop in when needed. A good score unlocks better mortgage rates and terms.

3. Location, Location, Location:

• Choose Wisely: Scout neighborhoods like a seasoned detective. Is it a serene cul-de-sac or a bustling urban jungle? Consider proximity to work, schools, and that chai latte joint that knows your name.

4. Property Search:

• Medium Matters: Where do you hunt for homes? Online portals, real estate apps, or perhaps you’re old-school and prefer driving around neighborhoods, peeking through windows (not in a creepy way, of course).
• Shortlist and Compare: Like a matchmaker, shortlist properties that make your heart flutter. Compare amenities, prices, and vibes. Does it spark joy? Marie Kondo would approve.

5. Government Schemes and Tax Concessions:

• Know the Perks: India loves its schemes. Explore government initiatives that offer sweet deals for first-time buyers. Tax benefits? Yes, please!

6. Property Verification:

• Documents, Please: Verify property-related documents like Sherlock Holmes on a mission. Title deeds, approvals, encumbrance certificates—they’re your golden tickets to a safe transaction.

7. Celebrate the Victory Lap:

• Choose a Grade A Developer: Like picking the right Hogwarts house, choose a reputable developer. They’ll weave magic into your dream home.