Your house is more than just a property, rather it is a dream come true and a source of great joy and pride along with financial stability and security. The joy and fondness become more amplified should it be your first home. For instance, Ganga Legend, a premium residential project by Goel Ganga Builders, offers apartments that redefine luxury living like no other.
However, the home buying experience for first-time homebuyers can be intimidating, considering the fact that the process does involve a thorough look-in into a series of the nitty-gritty. This comprehensive guide here should put your plans of buying your first house on the fast lane.
First, you must understand the difference between the super-built area and the carpet area. While the super-built area includes the common areas of the property like the staircase, elevator space, lobby, etc., the carpet area is generally less, and generally constitutes 80% of the super built area. Secondly, you must not go by the sample flat, rather scrutinize every detail of the actual flat that you are going to buy.
Thirdly, after booking a flat and getting the allotment letter, you must read the clauses thoroughly and identify any loopholes that may be in the developer’s interest and not yours. Fourth, you must check if all the necessary permits and clearances are available with the real estate developer before starting the construction of the housing project.
Finally, you must be aware of the clause of late possession and grace period of apartment possession in the buyer-builder agreement. After verifying all these factors, should you need funding to buy your first apartment; you can avail home loans to secure easy financing.