Buying a apartment is always considered to be a big investment, whether it is your first or your last. It requires careful planning and holistic assessment of your present and future financial commitments. It is important that you plan your investment at the right time, for buying your house. Most buyers prefer home loans to decrease the burden of the investment on their current financial condition. At present banks provide home loans at much better rates of interests.
A couple of decades ago considering a home loan itself was a novel concept. Whereas in the present scenario banks now offer loans at lower rates of interests and give loans that cover 90% cost of your house. Along with this, home buyers need to be abreast of the policies and any new rulesets outlined.
The newly commissioned RERA act of 2017, has brought with it a set of takeaways for the home buyers. Home buyers will be assured of project completion time on deadlines and a promise of greater quality in terms of construction and the materials used. This act will also make way for greater transparency on the project under construction, provides greater stability in housing prices. The act will also keep a check on the developer and will also increase his liability on the project.
Initially home buyers payed multiple forms of taxes, with the introduction of GST there will now be only one tax form. Now the burden on the buyer is expected to lessen down.
With the emergence of these new amendments home buyers will have to keep themselves informed and be aware any implications that would impact their financial situation. They also need to consciously leverage their investments at the right time and on the right properties moving forward.