FAQs For First-Time Buyers

Is It Convenient To Buy Or Rent?

One of the most common questions that can arise in your head while looking for real estate projects in Kolkata is to buy that or rent it. Renting can be an excellent idea for the short-run process as it does not cost a lot; however, buying a property has many other benefits.

If you buy a property, it will benefit from different places such as, and you can give your property at rent and earn value. You can also get security, freedom, and a sense of pride. Therefore, buying a property could benefit you in various ways than renting in the long run.

• Is It The Right Time To Buy?

People often get confused with the right time to buy a property and mess up by buying a property at a very unusual time of their life. Therefore, you need to look at some necessary things in your life before buying a property. These are few necessary things that you need to ask you before buying a property.

You need to avoid any inconvenient situation while planning for the budget you can spend; therefore, you need to consider a settled job before buying a property. You need to look for some other primary things, such as if you are ready for the down payment or pay for the mortgage. You should clear your other significant payments, too, before buying a property. Furthermore, these are the necessary things you must consider before buying a property.

• How Much For The Down Payment?

One of the most common questions asked by first-time buyers can be how much they should save for the down payment as most of the time, and they fail to calculate it and encounter inconvenient situations. Therefore, you must plan your budget strategically before buying real estate properties in Kolkata.

Saving for a down payment is an arduous task for any first-time buyers; therefore, it is recommended that they save at least 25-30% for the down payment. However, the requirement of the payment depends on the seller as it varies with different people. Although, none of the sellers will ask for more than 25% as a down payment. Furthermore, you must save the quarter amount of the money as a down payment to avoid risk.

• Is There Any Tax Benefits For The House Owners?

One of the most common inquiries from people while buying a property is about the benefits they can get from that house. You can get several benefits by owning a real estate property; however, you need to know about the primary benefits that you can get.

You can get certain tax benefits you can get by buying a property, such as you may get loan discount points, you might get a deduction from mortgage interest, and real estate taxes. However, there are capital benefits too, but you need to buy your first property. Therefore, these are few essential benefits you will get with buying a property.

• Is There Any Difference Between A Pre-Approved And Pre-Qualified Property?

One of the fundamental questions that can arise in your head while buying a property is what kind of property could be more convenient to buy. Therefore, you need to know the difference between a pre-qualified property and a pre-approved property. Both of the properties have different values, but you need to buy a property that could be more convenient for you.

A pre-qualified property can be a good deal; however, there is no fixed guaranty of how much money you need to spend for the mortgage as there is no verified information. However, getting a pre-approved property could be an acceptable deal as you will get credit scores for mortgages, and you will get verified fixed deals.

• How To Get The Best Deals?

One of the most important things to look at while planning to buy a property is how you can get the best deal. Therefore, the most important thing you can do is start researching a year before buying the property. This can be one of the best strategies to follow while you are planning to buy commercial properties in Kolkata, as you can check the value of the plot.

Networking can be another thing you need to do while you are buying a property, as you can get different price tags from different people for properties. However, even if you get the property of your choice, you shall not stop researching as you can get better offers.

• What Is The Difference Between Appraisal And Inspection?

One of the primary things that people get confused about while inspecting a property is inspecting and appraising. Therefore, you must make up your mind before visiting a property that you will inspect or appraise.

While you are inspecting a house, you mainly check the house's physical condition; however, appraisal is related to the plot's value. If you are a new buyer, you must look for both sections equally as you will spend money on both the physical condition and the market value.

• How Long It Takes To Buy A Property?

One of the most common questions in the real estate industry can be how long it will take for a person to get ownership. Therefore, before buying a property you, need to have a conversation regarding this with the seller.

However, buying a property can be a long process as it will take time to sanction a bank loan. However, if you find the property of your choice, then it will hardly take three months to get the plot. Therefore, you must plan by keeping the time in your mind while you go to buy a property.

• Where To Look For Properties?

One of the fundamental questions that can arise in your head while you are planning to buy a property is where you can look for the properties. There are various offline methods that you can apply; however, to get good deals in a shorter period of time, you need to take help from the online platforms.

There are various business portals and online applications where you can look for upcoming real estate properties in Kolkata. However, you can take the help from Haarway, as it is one of the leading business portals of recent time with an updated search engine. Furthermore, you will get detailed information and options to communicate with sellers in online business portals and applications.