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Guide for First Time Home Buyers in Lucknow

Buying a home is one of the biggest decisions in a personu2019s life. Especially buying your first home can be a little overwhelming. There are a lot of question in a personu2019s mind about budget, location, which builder to choose, whether to go for an under construction property or ready to move in and so on. If you know what your exact requirement is, the entire experience of selecting the correct home for your needs will seem easier. As there are a lot of options available to buy Flats in Lucknow.

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Guide for First Time Home Buyers in Lucknow

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  1. Guide for First Time Home Buyers in Lucknow ByPaarthInfrabuild Real Estate Developer in Lucknow

  2. First Time Home Buyers in Lucknow Buyingahomeisoneofthebiggestdecisionsinaperson’slife. Especiallybuyingyourfirsthomecanbealittleoverwhelming. There arealotofquestioninaperson’smindaboutbudget, location, which buildertochoose, whethertogoforanunderconstructionpropertyor readytomoveinandsoon. Ifyouknowwhatyourexactrequirement is, theentireexperienceofselectingthecorrecthomeforyourneeds willseemeasier. AstherearealotofoptionsavailabletobuyFlatsin Lucknow, afirsttimehomebuyermaygetalittleoverwhelmedto maketheentireprocesseasierforyou, weareprovidingyouwitha completeguideonwhatfactorsyouneedtoconsiderwhilebuying yourfirstpropertyinLucknow.

  3. Themostimportantfactorto considerwhilemakingadecision isthebudget. Locationandtypeof propertywilldeterminetheprice. Thiswillhelpyounarrowdown propertiesinLucknowwhile deciding. Youmaywanttotake intoconsiderationyourexisting financialcommitmentsandhave anestimateoftheEMIsthatyou arecomfortablepayingevery monthatareasonableinterest rateandtenure. Youcancalculate thisusingtheEMICalculator. 1. Deciding Your Budget

  4. 2. Deciding the Type of Property Thetypeofpropertyyoubuydependsonfactorslikethe numberoffamilymembersandyourbudget. Allthiswill helpyoudecideifyouwanttogoforanindependent houseoranapartmentinLucknow. Thiswillalsohelpyou determinewhetheryouwanta1BHK, 2BHKor3BHKflat. There are various projects in Lucknow offering apartments in all sizes at various locations.

  5. 3. Focus on the Location Choosing the location for your home is one of the most important factors while making purchase decision. You should choose a location so that your school, office and other places that you need to commute on a regular basis are easily accessible. It is also important to have good connectivity with market, hospitals, railway station, airport and other such social infrastructure. The budget that you have decided will also pay a very important role in deciding the location of your property. While buying a home in Lucknow, you may consider prominent locations like Gomti Nagar, Gomti Nagar Extension, Sultanpur Road, Golf City, Shaheed Path. These locations have easy accessibility to all the areas in Lucknow. https://www.paarthinfra.com/

  6. 4. Choose Amenities as Per Your Needs ThesedaysapartmentsinLucknowofferahostof amenitieslikeclubhouse, kidsplayarea, amphitheatre, meditationzone, PowerBackup, GatedSecurity. Makeanoteofthekindofamenitiesthatyourequire onaregularbasisdependingonthemembersofyour family. Forinstance, ifyouhavekids, itwouldbea goodideatoconsideranapartmentwhichhasa spaciousplayarea. Ifyouhaveelderlymembersinthe family, youmaylookforamenitieslikeparkandyoga room. Ifyouarebuyinghomeinatownship, youwill haveeasyaccessofthethingsyouneedonadaily basisaseverythingwillbeavailableinthecampus itself. Youmayselectyourdreamhomeonthebasisofyour requirements.

  7. 5. Choose a Reputed Builder Buyingahomeisprobablythebiggest investmentofaperson’slifetime. Sincealotof time, moneyandemotionsareattachedto makingthisdecisionitiscrucialtoconsiderthe builderreputation. Checktherecordofthe builderandthecompany, howmanyprojects hashedelivered. Therearealotofreputed buildersinLucknowlikeAnsal, Omaxeand PaarthInfrabuild.

  8. 6. Selecting Home Loan Sincebuyingahomeisabiginvestment, youwillneedto availahomeloan. Youcantalktoyourexistingbankeror lookforaprojectthatisalreadyBankApproved. Itis advisabletolookforaBankapprovedprojectinLucknowas itisgenerallyamoresecureoptionasBanksusuallydo thoroughinvestigationofthefinancialfeasibilityofany projectbeforegivingapprovalforloan. Ahomeloanalsoofferstaxbenefitsasinterestpaidon homeloanistaxdeductible. Doathoroughresearchonhomeloanratesofferedby differentbanksandwhichisthebestsuitedtoyourneeds.

  9. Thepropertyshouldberegisteredunder RERAandyoucancheckforthesame ontheofficialwebsiteofRERA. RERA ensuresthattheinterestsofthebuyeris protectedintermsofwhatthe developerhascommittedtodeliver. This ensuresmoretransparencybetweenthe buyerandthedeveloper. Incaseofany grievancesyoumayreachouttoRERA forassistance. So, alwayslookforaRERA ApprovedPropertyinLucknow. 7. Verify If the Project is RERA Registered

  10. 8. Status of the Property Howsoondoyouwanttomoveinand whatkindofpaymentplanyouare lookingatwilldeterminethestatusofthe Propertyyoubuy. Whetheryouwantto goforanunderconstructionprojector readytomoveinwillalsofurtherhelpyou tonarrowdownyouroptions.

  11. Whenyouareworkingouta financialplantopayforyour house, donotforgettoconsider additionalcostslikeproperty registrationcost, propertytaxes andMaintenanceCost. Allthese willcomeintoplayafteryou haveboughtthehousebutthey domakeupforaconsiderable amountandneedtobefactored inyourfinancialPlanning. Do talktoyourdeveloperaboutan estimateofthesecostbefore makingthebuyingdecision. 9. Keep Into Consideration the Additional Costs

  12. 10. Know the Government Benefits Available TheGovernmenthasseveralongoingschemesfor firsttimehomebuyersandyoushouldfindoutif youareeligibleforany. Ifyouareafirsttimehome buyer, youareeligibletoavailincometaxbenefits underthesections- Section80C, Section24and Section80EEAoftheIncomeTaxAct. Makesureto availbenefitsthatthegovernmenthastooffer. YoumayalsocheckwiththedeveloperinLucknow aboutthebenefitsyoumaygetifyouareeligiblefor any, onbookingyourhomewiththem.

  13. Thank You! Wehopethislistcanhelpyouin makingthedecisionofbuyingyour dreamhomeinLucknow.

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