Buying a new home is a milestone for you. But you are not sure what to expect. In these uncertain times post pandemic, the decision to own a home may seem overwhelming.
In this blog, we have tried to pinpoint the main points in the home buying process to prepare you for a very exciting journey in your life.

Things we covered for you
- Plan your Budget First
- Is your CIBIL Score good enough?
- Location is of Prime Importance
- Choose the Right Builder
- Calculate your Tax Liability
- Legal Clearances
- Property Insurances
- Check all Documents thoroughly before you Buy
1. Plan your Budget First
Buying a home is the most captivating asset. So, the foremost thing that you should consider while planning to purchase a new home is to plan your budget first.
Calculate the annual/monthly spending away from annual or monthly earning – you will be clear about the remaining amount.
Following a budget will also help you have peaceful sleep at night. People who lose sleep over affecting their family’s needs are allowing their money to control them. Take back the control. Budget your money wisely.
2. Is your CIBIL Score good enough?
If you are willing to take a loan, check your CIBIL score. CIBIL is one of the authorised credit bureaus in India which provide a credit score. Score for a home loan needs to be 700 and above. A higher credit score means that you can avail attractive offers including lower interest rates, larger loan amounts, simpler documentation, and longer repayment periods.
3. Location is of Prime Importance
After a hectic day at work, the last thing that you would want is a long commute in traffic. That is one of the main reasons most people would prefer to live near their workplace. There are many advantages to living closer to work that will benefit you – save more money, better for your health, more time for personal and social life, better for environment, improved work productivity.
Take a good look at the location and the locality. A good location always has a large impact on the resale value of your home. Choose wisely and it can be your best investment.
4. Choose the Right Builder
Ensure that the builder of your preferred project is RERA registered. When you invest in a project registered with RERA, your rights are protected as a buyer.
The most challenging builders face is the complex task of handing over the property to home buyers on time, as it tells about the brand and reputation of the builder. A reputed real estate builder will ensure that you get your possession on time. One of the biggest advantages of choosing a reputed real estate developer is the assurance of good construction quality for their projects.
To find out the credibility of your builder, you can conduct a quick Internet search by keying in the company name in customer forums, blogs, news reports, property sites, etc.
5. Calculate your Tax Liability
This is a significant cost like the sales tax and income tax paid to the Government. When you plan to purchase an apartment/home, you need to understand the rates and fees that apply in that particular town or place. Find out the amount of the registration fee and stamp duty given to you based on the market value.
6. Legal Clearances
Before you execute a sale deed, as a buyer you should ensure that the property has a free title. Sale Deed is one of the most important legal documents. Before executing a sale deed, please ensure that all charges like property tax, electricity and water charges, maintenance and housing society charges are taken into consideration. A sale deed needs to be compulsorily registered.
7. Property Insurances
Property insurance protects your financial future. The cost is comparatively small and offers protection in the event of property title issues, certain damages or any legal problem. There are a number of distinct home insurance policies to choose from, with differing rates of security. Choosing the correct house insurance preserves your property and makes the purchase method simple.
8. Check all Documents thoroughly before you Buy
A property investment is capital intensive and a small mistake during the process can cause a lot of discomfort for the buyer. So, it is imperative that a buyer exercises due caution while examining the property documents. With proper legal advice, a buyer can ensure scrutiny of documents and verification of relevant information pertaining to the property.
If you are in search of the most reliable Property Dealers in Gurgaon or the best Residential Property Dealers in Gurgaon, only one name comes to mind – YHATAW Real Estate Facilitators Pvt. Ltd.