There is a rush of emotions and excitement when one decides to buy their first home ever. In that rush, sometimes people make mistakes that have expensive repercussions. To all the first-time home buyers, we suggest that you keep calm and avoid following mistakes while purchasing your home.
- A very common mistake that homebuyers make is that they give in to the excitement and exceed their budget. It then leads to the overuse of saving which is definitely not the right move. Building a home is important but so are other things for which you must keep your savings intact.
- Then, people often forget to consider added expenses like documentation charges, registration charges, maintenance fee, legal fee etc. We suggest that the deal that you finalize should cost you less than what you can afford so that these miscellaneous expenses can be easily covered.
- Another important thing to remember is to check your loan eligibility. Applying for a loan and getting it approved is a lengthy process. Your eligibility depends on your annual income, asset value and creditworthiness. The bank reviews all these aspects before issuing the home loan. So, don’t make the mistake of keeping your papers incomplete and checking your status with the bank.
- A mistake that one must avoid at all costs is not being mindful of the tax benefits. You can save a tax separately on the principal amount and interest amount of your home loan. Make sure that you specify the details of installment in your annual income so that the tax is calculated accordingly.
- The last but most important mistake to avoid is to pick up the wrong builder. There is no shortage of tricksters and frauds in the market who promise one thing and deliver another. You must cross check the reputation of the builder by enquiring about their clients’ experiences. It will help you form an informed decision.
A brand that you can always trust is Hallmark Builders. We ensure to deliver what we promise. Our deals are transparent and trustworthy. Our projects incorporate the best building material, amenities and resources. We take care of all the needs of our customers and hence, our projects like Hallmark Sunnyside, Vesta, Vicinia, Treasor and Skyrena are built in strategic locations with easy connectivity to all prime locations.
To match the fast-paced lifestyle of the modern world, we have introduced digital equipment to the flats built in Hallmark Sunnyside and Hallmark Skyrena.
We provide 24 hours surveillance through cameras and security staff in all our projects. The comfort of the residents is our top priority and we make sure that it is delivered in the best form possible. Get in touch with us to know about our plans and offers in detail.