Home buyers. Home Buyers Guide

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1 First choice for first time Home buyers Home Buyers Guide

2 Land and Real Estate have always been appreciating assets on earth. In India, it also possess significant emotional attachment which culminates into a sense of pride and security. Traditionally it has been observed as the chief source of investment and wealth creation and the practice continues till this day. This has favourably altered the socio-economic cycle with the economic growth being a catalyst to reign in urbanization, thereby increasing the pace of real estate developments across the country. Ones first home purchase is always a special occasion and we all get to our imaginative best in visualizing the house or apartment. It is not only limited to the décor, styling or customization but also includes several aspirational fancies. However, a rational and logical approach will prove to be instrumental in bridging the gap between facts and fiction. research@mybop.in Toll Free:

3 PLAN INTELLIGENTLY It is advisable to delineate investment decisions from any impulsive or personalised opinions and thought processes. As a first home buyer one must be cognizant of several factors and realistically approach the entire process with meticulous planning and diligence. Real estate investment and decisions are sensitive, and mostly based on gut feel, suggestions and word-of-mouth; opinions from friends and relatives who lack the skill and knowledge to evaluate, leading to speculation. One should always endeavour to delineate investment decisions from such factors to achieve fruitful gains. Home buying is always the biggest financial decision that you may ever consider, regardless of the time, size and place. It is easy to let emotions get in the way of reality, or become oblivious about of factors that may make a difference. A systematic and disciplined approach can help to put the necessary checks and balances in place and make the experience pleasant and rewarding. BUDGET TYPE LOCATION PROJECT SIZE INFRA- STRUCTURE

4 BUDGET Understand what you cannot afford Mortgage: Below 33% of household earnings Evaluate: Mortgage options objectively Ensure: Continuity of earnings You would be the best judge of your financial capabilities and aware of your earnings and expenses. This would include the initial down payment amount as well. Ideally the mortgage should not be more than 33% of your total household earnings. It is advised to evaluate mortgage options to get the best bargain in terms of future charges relating to partial repayment and fore closures. It would also be necessary to consider the other financial obligations such as automobile and personal loans along with your utilities and expenses. It is also essential to budget for the expenses like registration, relocation, utilities, maintenance, transportation and services. These expenses will come up once moved. One needs to be mindful of the future and have a horizon of at least 5 years to service the mortgage. Hence, the decisions to augment incomes other than the natural salary raises, such as spouse's earning and continuity be also considered. research@mybop.in Toll Free:

5 LOCATION Find a place where there s joy Connectivity: To the hubs of the city Growth: Locations that offer better infrastructure Proximity: To commercial developments Location is the primary factor that needs serious consideration before buying a house. For a first home buyer who is young, may be forced to consider the suburbs or the peripheral locations of the city dictated by the budgetary impediments. One needs to be conscious that the locations which are upcoming and devoid of services and amenities, compared to the downtown may soon be addressed as development follows settlements. It is pertinent to be aware of the planned infrastructure and the new master plans. Proximity to planned or upcoming commercial developments can ensure expedited development of infrastructure.

6 INFRASTRUCTURE You and I come by road or rail, but economists travel on infrastructure Physical and social infrastructure Public transport and accessibility Proximity to education and health care facilities Ready or developing physical and social infrastructure should be a good measure in deciding the location. Roads, flyovers, mass rapid transport systems, public transport and accessibility helps in improving the connectivity of a certain location with the other parts of the city. Families comprising of babies and aging parents need to be considered for juxtaposition to pediatric and geriatric care. Proximity to quality health care and education services is always beneficial along with shopping and entertainment destinations. research@mybop.in Toll Free:

7 SIZE It is not a reality, but a construct of the mind; and space a construct to contain constructs Evaluate present need Scale up as required Leverage appreciated value The size of the apartment or house is dependent on the budget and the ability to avail and service mortgage. It is advised that one may not go for a future proof housing solution at the first go, rather evaluate the need. A small family may not require a big sized apartment but can always plan to scale up in future as the need arises by disposing the first. This also helps to leverage the appreciated value of the property for the next move. The professional and the working class today are highly mobile and commitments of the entire career span are difficult to make. So one has to be ready to shed off inhibitions and may have to move onto a different location or city in pursuit of better career and aspirational lifestyle options.

8 PROJECT There is nothing like staying at home for real comfort Check background of developer and contractor Site inspections Engage professional advisors The selection of the project should be done with utmost caution. The developer and the contractor should be experienced, capable of effective execution and financially stable. A quick check on their past projects and feedback would help to determine their worthiness. Incase, one plans to buy a pre-owned house or an apartment, then the age of the development and legal matters also need to be ascertained. For this professional advice may be sought. A detailed assessment of the services including water supply, sewage disposal, and power supply among others is essential. An estimate of the probable repairs and renovations would help to negotiate with the seller and better evaluate the cost implications. Finally, a thorough inspection of the house should be done at different times of the day to evaluate the natural ventilation, lighting, noise levels and traffic in the vicinity. These factors may significantly influence your decision. research@mybop.in Toll Free:

9 GROUP HOUSING AND INDEPENDENT DEVELOPMENTS Houses are built to live in and not look at; let use be preferred Apartments offer choice of amenities Independent developments are economical and better located Though group housing projects popularly termed as apartment complexes, integrated developments or townships, have several advantages and benefits over independent developments, they come at a cost. The former tends to be a self-sustaining model with good social infrastructure and amenities such as club houses, gymnasiums, shopping areas, among many others. The independent developments on the other hand do not come with such frills and often prove to be economical and better located within the already developed localities. Buying a home is a daunting task. Adherence to the above suggested points can make the quest more comfortable and less taxing. Research on every aspect is vital as it will help you prepare for the entire process. In your own interest, be ready to devote time for site visits. If you decide to engage the services of a broker or advisor, consider their advice as they are better informed and positioned to assess the market locations. They can thus help you pick the most suitable option for your needs. This will definitely ensure that the house you finally shortlist will become a warm and loving home with your magic touch.

10 About us BOP is world s trusted real estate consultant with over 50,000 satisfied customers and 10 state-of-the-art Studios across India, Dubai and Singapore. Strongly guided by our core values that include ensuring customer satisfaction which is fundamental to our business. We ensure growth and wealth enhancement of the investor by providing pre and post-sales services of the highest quality, enabling transparent deals. More importantly we provide a large bouquet of quality real estate options that are available for you to choose from. We make sure that your choice is a win-win situation by fostering a mutually beneficial relationship. With a strong team of 500 people, BOP brings that best to you. Our interaction with you is driven by a deep sense of responsibility and care. Equipped with trained professionals with pedigreed backgrounds and services records in top multinationals, BOP ensures that you get the best service and market information. We envision a future where there is a home for everyone to suit their budget and lifestyle in a city of their choice. So let s make your dream home come true! CORPORATE OFFICE 8th Floor, MSX Tower 2, Alpha Commercial Belt, Alpha 1 Greater Noida (U.P. ) BOP STUDIO BENGALURU Jatti Builders # 101 Ground Floor, Kormangala Industrial Area 1st Main, Next to Empire International Hotel, Bangalore BOP STUDIO LUCKNOW 3rd Floor Eldeco Corporate chamber 2nd Vibhuti Khand, Gomti Nagar Lucknow - Uttar Pradesh BOP STUDIO LUDHIANA 3rd floor Ansal Plaza Mall Ferozepur Road - Ludhiana BOP STUDIO SINGAPORE 11 Collyer Quay The Arcade #10-15, Singapore BOP STUDIO DUBAI S-117, Mezzannine Floor, Al Khaleej Centre, Mankhool Road, Bur Dubai, Dubai Disclaimer: All data, figures, information provided hereto are provided and/or collated by Better Option Propmart, India solely for information purposes. It does not purport to be a complete description of the markets or developments contained in this material. The information on which this report is based has been obtained from sources that Better Option Propmart, India believes in its reasonable bonafide faith to be reliable, but Better Option Propmart, India has not independently verified such information and do not guarantee/ warranty the accuracy, genuineness or completeness of the information therein. This report contains information available to the public and has been relied upon by Better Option Propmart, India on the basis that it is accurate and complete. Information contained herein should not, in whole or part, be published, reproduced or referred to without prior approval. Better Option Propmart, India accepts no responsibility if this should prove not to be the case. Any such reproduction should be credited to Better Option Propmart, India. research@mybop.in Toll Free: