In India, buying a home is a dream of many individuals. They save for several years and then if required apply for a home loan to turn this dream into reality. This is indeed a big financial decision, because of which it comes with several uncertainties and lingering anxieties. These further increase when a person is looking for houses in Delhi-NCR, the key business hub of India. This has resulted in several myths regarding buying a property in the Delhi-NCR. However, these are just myths and hold no value. Here is a mention of some of the common myths:
1. Down Payment for the House Should be Big in Amount
One of the reasons people think it is difficult to buy a home in Delhi-NCR is because they may have to make a large down payment as a pre-requisite. You do not necessarily need 20% as the down payment. The real estate developers in Delhi-NCR offer excellent financing options which make it easier for homebuyers to buy a home.
2. Only Popular Real Estate Developers are Trustworthy
This is one of the oldest myths regarding buying a home in Delhi-NCR. Let’s debunk it. There is no truth to this myth. There are several not-so-popular real estate developers which are trustworthy and offer excellent homes at great prices. Similarly, there are several popular real estate developers which cannot be trusted. Thus, it is important to do your research well.
3. It is Hard to Find the Right House
This factor is somewhat true and somewhat not. What a ‘Right house’ is for a person is subjective and each person has his/her own definition. A house which may be the ‘right house’ for one person may not be the ‘right house’ for another. One way to find the right house for yourself is to know what you want from a house and see which house offers most of them in your budget.
Since there are several state-of-the-art residencies in Delhi-NCR, homebuyers only have to know and understand what they need in order to buy the right residential property.