House buying tips: Before buying a house, pay attention to these things, otherwise your money will go down the drain

Buying a house is everyone's dream. For this, many people work very hard. They save a lot of money. Then they can buy a house. While buying a house, people have to pay attention to many things. People look at the location of the house. They look at the budget of the house. They find out how far the nearby hospitals, restaurants, and cinema halls are.

Then people take the house deal forward. All these things are not so important. But apart from this, it is important to check many other things. While buying a house, a small mistake of yours can get you lakhs and crores of rupees stuck. Let us tell you what things to pay special attention to while buying a house.

Check your budget and the price of the house.
The most important thing that people should check before buying a house is the budget. Before buying a house, many people keep savings. So that they can buy a good house. But if the rate of your house is high. Then it can spoil your plan. That is why look for a house according to your savings.

Because if your savings are less, then you will have to take a home loan. But if you take a higher home loan, you will have to pay more interest. That is why buy a house within that budget where you do not have to take a higher home loan.

Ready to move or under construction

You can go to a ready-to-move house and shift immediately. But you have to wait to live in an under-construction house which is being built under some project. If the rent of the house where you are living is not high, that is, you do not have any problem living, then you can invest money in an under-construction house. With this, you can save lakhs of rupees instead of a ready-to-move house.

But you should find out from the builder beforehand when will you get possession of the house. If you do not get possession by the stipulated time, it is also important to know whether you will be given compensation or not. But if the rent of the house where you live is high, then you can buy a ready-to-move house.

Do check the home loan interest rate and tenure
If you do not have enough money to buy a house, then you have to take a home loan. You should know this. How much savings do you have and how much home loan do you have to take? If you have to take a bigger home loan, then it can be for a longer period.

That means you may have to pay more interest. If you take it for a shorter period, then you will have to pay more EMI. That is why how will you pay the EMI? What should be the tenure of the home loan? It is important to check all this. Otherwise you may have to pay more money.

(PC: Freepik)