3 Golden investment tips to help you buy a house


The purchase of a house needs to be a wise decision from the investment point of view and the convenience point of view. While buying a house, many things should be considered, such as the proximity to the school, college & office. Also, there should be a nearby market area to shop for etc
Home loans are easily available for the purchase of a house from the bank or an NBFC. The banks are keen to extend loans to the borrowers. Thus the buyer can benefit from home loans at a competitive rate being provided by the bank. The property’s investment should be ideally into such locality, which is a partially developed locality in the city but has the vast potential to grow. The localities wherein there is the development of the IT parks, commercial complex being taking place then, in that case, there is a vast potential to grow. The partially developed localities houses are available at a lower cost, and thus the buyer can save money rather than buying a house is fully developed localities. The houses in partially developed localities have a higher potential for appreciation than those already developed.

The approval of the bank loans is only done for the properties that are based either within the municipal jurisdictions or the ones that are slightly in the outskirts of the city. The properties are located in the extreme outskirts or isolated locations then, in that case, the bank does not approve loans for the project. Thus to obtain loans buying a house in an accessible location is necessary. The bank does physical verification and inspection of the property before approving the loans. The interest rates of the banks are in the range of 6.50%-18% per annum. Thus the borrower should take the loans at the lowest interest rates by choosing the right lender to save money on interest repayment, gain maximum returns on investment, and become early debt-free. The posh interiors from the inside fetch good value for the house and fetch the better value. This renovation of the house is also a better idea for getting higher returns on investment. The bank does not provide the combined loans for the housing along with the renovation. But in other cases taking personal loans is a better option for the renovation if required. Personal loans interest rates are slightly higher as compared to home loans.

Following are the golden investment tips to buy the house

  • Buy a house with proper ventilation:

The house should have proper ventilation and cross-ventilation so that the house should be airy and free from suffocation. Having cross-ventilation brings positive vibes into the house, and thus making the house comfortable and cool.

  • Proper sunlight should enter the house:

Proper sunlight is necessary for the house as it helps to make the house to be made germ-free. The house having good sunlight can also make the house look pleasant in the daytime. There should not be any requirement for electricity inside the house for lighting purposes during the daytime.

  • Opting for longer tenure with lower interest rates:

The home should be bought at lower interest rates from the lender, and also, in case of a good CIBIL score, the interest rates can be negotiated with the bank. Also, in the case of the young-age buyer, the borrower should try to take maximum tenure for the repayment as the monthly installment gets reduced for the loans. Even if the higher tenure has opted, the borrower can repay the loans faster by paying advanced EMI and getting a rebate on the interest amount from the bank. The lender should be chosen such that the one who does not charge a penalty on the pre-payment of loans.

Thus the house should be the ones which are cheerful and also the ones which the bank can easily finance. The property buyer should see towards it that the house should have a pleasant atmosphere and should be airy, and have adequate sunlight inside the house.