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The question that must be hovering at the top of your mind presently, especially if you are planning to buy your first home, is whether you’ll be able to fulfill your wish of turning into a proud homeowner in 2022. Though it seems like an uphill task right now, it should not be that difficult if you know what to expect.
Have realistic expectations
The best way to avoid being disappointed or discouraged before you get started on your house hunt is to set realistic targets. One of them is to have a strict budget for the home of your dreams.
If you have been intently watching how the real estate market has been panning out you’ll know for sure that prices of almost all commodities are increasing. This includes construction materials too. This means that the house you had set your heart on could come with a higher price tag. Being prepared and looking for the right options to pay for your home can be a wise move.
Approach the best developer
According to a Knight Frank India ‘2022 Outlook Report’, housing prices may rise 5 percent next year on improved demand. However, on the positive side of it, the report also mentioned prospective homebuyers’ preferences for bigger homes, better amenities, and attractive pricing from developers will keep them interested to seal the deals.
This is the best time to approach established developers like HM Constructions http://www.hmconstructions.com/ who are pulling all the stops in making those ready to move-in homes available with some great schemes and discounted rates.
While you’re on that house hunt, it will be wise on your part to enquire about special festivals and end-of-the-season discounts and offers from HM Constructions on those luxury residences at the top locations in Bengaluru.
Check the best homes in the city
In a marketplace that is choc a bloc with a huge supply of homes, especially in the ready to move in the category, how do you make that important choice? It’s easy if you narrow down your list of established developers who are the best in the business.
When it comes to globally acclaimed luxury homes, those dream marvels from the house of HM Constructions are every home buyer’s wish come true. Whether it’s a choice of 2, 3 and 4 BHK abodes from HM Indigo http://www.hmconstructions.com/projects/details/hm-indigo at Kanakapura Road, 3 BHK elite residences at HM Tropical Tree http://www.hmconstructions.com/projects/details/hm-tropical-tree at RT Nagar amidst 82% of sprawling green grounds, spacious 3 BHK homes in the towering HM Grandeur http://www.hmconstructions.com/projects/details/hm-grandeur on Wheeler Road in Frazer Town, or the sophisticated sky villas at Concorde Tower in HM Symphony on Sarjapur Road, you will be amazed at the wide array on offer.
Make the most of low-interest rates
The silver lining on your home buying plans is that the RBI has retained the low-interest rate regime on housing loans. So, although the price tag on your home may go up, you will at least be able to go in for a home loan at one of the lowest interest rates in all these years.
Consider Pre-approved loans
One of the best ideas to harness the power of a home loan is to check your chance at getting one sanctioned. A pre-approved home loan is given to eligible home loan applicants who the lending institution or bank gauges as having a sound financial background. Based on your fulfillment of certain pre-determined criteria set by your bank, potential borrowers like you can be sanctioned the loan to buy your home.
Before sanctioning the loan, your bank assesses your financial track record and the way you handle your payments.
Not only does the bank evaluate your financial status and repayment capacity, it also assesses the property you are going to buy. The advantage of a pre-approved home loan is that it gives you the opportunity to negotiate with the developer.
Increase your income and savings
Now that you have a fair idea about how tough or easy the path to your home purchase will be, it is prudent to make your bag of savings bigger than it was last year.
If you are expecting a salary hike or bigger returns from your wise investments, put them all in your savings basket. Every little monetary incentive is welcome. A higher-income works at all times when you want to secure a home loan. Remember, you also need to pay up the down payment before you get that loan. So every bit counts.
Cut down on frivolous expenditure
Keep a ready reckoner of all expenditures and then mark them as ‘important’ and ‘not so important. So, if servicing an education loan is absolutely important, shopping for that refrigerator upgrade may not be that important if the old one is still working strong.
As 2022 holds the promise of better tidings, we know you’ll still be able to make your dream home come true with some deft planning in place.
To know more about our projects contact us on 8880225555.