FLAVOUR OF THE MONTHseller. For purchasing the
property or while seeking a
home loan these documents
are essentially important
andmainly considered. Always
verify the documents and take
consent of the municipal
authority and seek support
from alawyer.
Checkpoints/ Essentials of a house
property:
We need to keep a few check
points in mind before we
purchase a property. Property
holds a big value and we have a
lot of thoughts when it comes
to purchasing a house, of
which a few listed thoughts are
reciprocated by our expert Mr.
Nithya Kumar, Assistant Vice
President – Investment
Advisory Services, ICICI
Securities Ltd.
- When should you purchase a
house?
There's no specific time or age
as to when you should
purchase a house, as long as
you can afford it. However,
generally, your first house has
to be purchased in the initial
stages of your career, say in the
first 5-6 years of your career.
This is because, house, being
perceived as an appreciating
asset, will get more time for the
appreciation. In a way, the EMI
you pay becomes like a forced
savings to help you build
equity in the property.- Should you buy a ready-to-move
new property or an under-
construction property or a resale
property?
When you buy an under-
construction property, as the
property is still not complete,
you would get it at a lower
price and there's a scope of
appreciation by the time it gets
ready. Ready-to-move new
properties are expensive when
compared to an under-
construction property. Till
about 3 years back, buying an
under-construction property
was considered risky, if the
builder was not a reputed one,
as there were chances of delay
in delivery or even non-
delivery. However, with these
properties now being covered
under RERA, buyers have
recourse on delay.
The main advantage of ready-
to-move new property is that
it's immediately available for