Be it for a doctor or anyone, purchasing a home in India has to be one of the most vital decisions of life. Hence, it becomes dutiful to check some aspects before investing in a property. The relevance of considering some home buying elements goes up. Especially, if you buy a home using the home loan for doctors as you need to repay it.
Yes, if you are a healthcare professional and zeroing on investing in a property with the home loan for healthcare professionals as you will need to pay monthly home loan EMIs.
In the context of our discussion. Here are some of the basic yet vital things to consider before buying a new home:
Keep checking your desired property
One of the most vital steps for a home buyer to consider before buying a house is getting a crystal clear idea of the property that wishes to buy. Thus, ensure to make frequent site visits. When the home is under construction and check the quality of the materials being used. When the home is ‘ready to move,’ visit the site again and to have an idea of the property’s neighboring areas, amenities offered by the builder and more.
Verification of licenses and approvals
You should ensure that your builder has attained all the papers. Approvals and licenses related to work commencement, environmental clearance, and has an approved building plan. These certifications are vital to check. So that, you don’t face any hurdles like the project being blacklisted once you are in are about to in.
Opt for a reputed builder
Being a doctor, it is your prime duty to assess your builder based on its current and past project deliveries. For confirming that your builder is fit to rely upon. You can either get in touch with your contacts who have availed homes from it or visit one of the properties. By doing so, you can know if your home builder is a trusted developer or not. It would be advisable to book your home only at the builder’s property with an awesome track record and on-time deliveries.
Take into account the total cost of your home
You would be amazed to know that you are not informed of the entire cost of the property by brokers. As they just mention the property’s basic costs. They don’t mention other costs such as internal/external development charges, location fees, and more that may shoot up the cost. Thus, be very sure of the total cost of the property as you may have to pay other costs out of your pockets if you don’t avail a home loan comprising everything.
Is the property RERA registered?
After the implementation of the RERA. You can confidently buy your dream home from a builder. That is RERA registered as there are no issues related to possession and more. Yes, you can register a complaint against your builder in case if you don’t get timely possession of your nest. You can also check the RERA website to know the project completion and possession structure promised by your builder.
The Bottom Line
Being a doctor, you may keep busy but that should not mean not considering the discussed factors before purchasing the home using a home loan for doctors. Considering the discussed factors beforehand will help you get the best home offers and you won’t face any issues in the future. Once you are ready, you can apply for the home loan for doctors online with one of the leading online lenders in your city.