House

photo by: Kavanjin Croatia Apartments

Imposition of service tax (from the next fiscal year) on under-developed housing complexes, as proposed in the Budget 2010-11, will lead to increase in property prices, according to real estate companies. Having said that, I’ve particularly noticed, after the budget, articles in newspapers / magazines refer to a similar line that reads — THE TIME IS RIGHT, BUY IT NOW..!

It is quite understandable that in the current scenario where property prices have risen drastically as much as 25 ~ 30% one of the main reasons of buying a house in an under-construction project was better rates, but with these extra add ons like Service Tax and VAT proposed to be levied — will only increase the cost of the property even further. Also, buying your first house has an emotional connection as well hence it is essential to be absolutely clear about why you are buying a home before starting the process.

Before starting any aspect of the process, ensure that you first get together with your family members and seriously consider this basic question — Why are you contemplating a property purchase?

Typically, there could be 5 reasons for wanting to buy a house: Continue reading “How To Identify The Right Reason Before Buying a House” »