In a store for home loans in India article? Home Loan is not very different from purchasing a home with instalments. The main difference is when you are done paying the instalments, you own the home, but if you pay a loan, you will continue to do so.
In India, home loans are fairly popular among the mediocre finance people. They have the money to climb the social aspects but not enough to purchase a house in India. This activity is reasonable because a house is expensive in India. Here are some tips to choose a house to loan:
- Make sure not aroused by the cheap price
First thing first, looks for the information about the loan price in every reference on the internet. The price on the market may help you to choose a house that nice and affordable. Do not believe so easily with cheap price, full facility, strategic location, and so on. Sometimes, after the deal made, the owner could increase the price of the loan. Make the owner promise not to do it if you do not want to be disappointed. The crime rate in India is fairly high, you could be in contact with a criminal house owner. Make sure you also have the background check on the owner. You can do it by asking the neighbour or from the local police.
- Do not believe with nice view easily
As the smart tenant, you must ensure the condition of the house that you will loan. Is it fit with the picture you know? Do a direct survey on the house if you do not want to be fooled with the nice view. The designed photo could be an old photo of the house. If you want to loan, say, on the hill that has the view of a mountain, make sure the location is safe from the eruption of the mountain.
- Compare with another loan house
Last, the thing you could do is to compare the loan price of a house with another. The view about the loan price on every house could help you to choose the best house with cheap price. Make sure the loan price is fit with the facility. Also, consider the completeness, location with its loan price. If you faced with a nice house that has a complete facility but very cheap, make sure there is nothing wrong inside the house. Check the plumbing, just in case there is a problem with the pipe on the bathroom, sink, and so on. Do not forget to check the air circulation, make sure the air can go through every room inside the house.
The choice is yours, but please be careful on choosing the house to live. Alas, those are a few things to consider when we are talking about home loans in India.