10 Common Questions For First-time Home Buyers

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10 Common Questions For First-time Home Buyers

Hey, are you planning to buy a home? That’s a great decision—congratulations! But with so many ads and builders online, it’s easy to feel overwhelmed.

In this blog, we’ll answer common questions for first-time homebuyers to make the process simple and smooth.

By the end, you’ll have complete clarity to move forward with confidence!

1. Am I Financially Ready to Buy a Home?

Of course, the first question is understanding your financial capacity. You need to evaluate your savings, credit score, monthly income, and the current EMIs, if any. 

If you are buying a home with your life partner, you must know the benefits of joint ownership. Make use of the tax benefits of joint ownership. 

You can use EMI calculators and credit score-checking platforms to plan the basic estimation of your first-time home!

2. What Is a Good Budget for a Home?

There is no debate; your lifestyle should match your income. When you are buying your first home, you can take small risks, but they should be calculated risks. 

If you decide to take home loans for your dream home, compare all bank interests and the possible interest hike in the future. It’s always advisable to have an emergency fund for unexpected expenditures. 

So, what is a good budget for a home? The answer is simple: how much you earn and how much you can pay for EMI.

3. How Should I Buy a House?

Finding homes in a city like Chennai is super easy! Not just Chennai, but all urban cities have that advantage. By the way, you can use popular house-searching portals like 99 Acres, Nobroker, OLX, Qucikr, Magicbricks, and so on. 

Here’s a simple step-by-step guide:

• Pick Your Location: Choose an area that fits your lifestyle—close to work, schools, or family.
• Use Online Portals: Websites like 99 Acres, Magicbricks, and Nobroker can help you find properties in your budget and preferred location.
• Research Builders: Look up builders in your area, check their past projects, and read reviews to see if they’re reliable.
• Visit Properties: Once you shortlist a few options, visit them “in person” to get a feel for the space and neighbourhood.
• Ask Questions: Don’t hesitate to ask the builder or seller about construction quality, approvals, and timelines.

4. Do I Need a Broker to Choose a House?

Not really. You do not need a house broker in urban cities. Once you search the internet, apartment or real estate ads will start appearing in your YouTube ads and on social media. Make use of them. Do not waste money on house brokers.

Brokers will show you multiple properties, but they will also have commission-based intentions. In the next section, we will talk about the type of properties you deserve.

5. What Type of Property Should I Buy?

This is the most important question: What kind of property do you want, plus what can I afford in my budget? There are 3 types of properties mostly available by almost all builders: villas, apartments, and individual houses.

• Villas: are spacious and offer more privacy
• Flats/Apartments: shared amenities, cost-effective
• Individual houses: customisable, higher maintenance, suitable for big or joint families.

Talking about apartments, ASN’s upcoming apartments are in the Chromepet location with good amenities. You can also consider options like 2 BHK or 3 BHK according to your number of family members.

6. How Important Is Location When Buying a Home?

Choosing a location matters when it comes to your daily travel. Your location will be one of the reasons for the price of the home. You have to look for the following things when you choose your house.

Checklist to choose the location:

• Nearby Schools, Colleges
• Hospital facilities
• Infrastructure development
• Neighborhood
• Transportation

You can also analyse past and present property values, rental income limits, and future growth potential in the area.

7. What Documents Should I Collect from the Seller/Broker?

You need to be very clear in this area. Document verification is super important. From the builder's or seller’s proof of identity to every piece of paperwork behind the process, it is important. We are going to list all the documents you probably need in the future.

Must-have Documents for Homebuying:

• Title Deed (Sale Deed / Mother Deed)
• Encumbrance Certificate (EC)
• Sale Agreement
• Property Tax Receipts
• Approved Building Plan & Layout Approval

Title Deed (Sale Deed / Mother Deed)

• It proves the seller owns the property legally.

Encumbrance Certificate (EC)

• It confirms there are no loans or legal disputes on the property.

Sale Agreement

• A contract that outlines the price, payment schedule, and handover date.

Property Tax Receipts

• Proof that the seller has paid all property taxes.

Pro Tip: Double-check all documents with a real estate lawyer to make sure everything is in order.

Approved Building Plan & Layout Approval

• Ensures the property follows local building laws.

How to Verify: Obtain approval copies from local development authorities like CMDA, DTCP, or RERA for plotted developments.

Khata Certificate / Patta & Chitta (For Tamil Nadu Properties)

Khata (in Karnataka) or Patta & Chitta (in Tamil Nadu) establishes land ownership and tax registration.

Final Steps for Verification:

✔ Cross-check documents with the sub-registrar’s office and revenue department.

✔ Engage a real estate lawyer to verify legal aspects.

✔ Conduct a physical survey of the property and its boundaries.

✔ Check for any pending litigation using local court records.

8. How Do I Know If the Builder Is Reliable?

There will be at least 10 builders in your surroundings and/or in the vicinity. Choosing the best builder among them can be confusing sometimes. But it is the most important step in the process of buying a home.

• Check their previous projects on their website.
• Verify RERA registration & legal compliance.
• Review delivery timelines and ask the builder.
• Assess construction quality.
• Read customer reviews & complaints.
• Understand after-sales support.
• Evaluate Transparency in Agreements

9. Key Questions to Ask Before Finalizing a Property

Asking questions brings so much clarity. Ask as many questions as possible to not miss any important details about the property. Look at the following questions to understand everything about the property. Here we have the perfect list of common questions for first-time homebuyers.

1. Is the property RERA-registered?
2. Has the builder obtained all necessary approvals?
3. How well is the location connected?
4. What construction materials are used?
5. What is the total cost of the property?
6. What is the payment schedule?
7. Is the property loan approved by banks?
8. What are the maintenance charges, and who manages the property?
9. What amenities are included in the project?
10. What is the resale and rental potential of the property?
11. Is there a dedicated parking space?
12. What’s the expected timeline for possession?
13. How Long Should I Stretch the Loan Tenure?
14. Do I Need Home Insurance?

10. Can I Resell the Property Easily If Needed?

Thinking about reselling your property in the future? It’s a smart move to consider resale value even before you buy your first home. Here’s what you should keep in mind:

• Location is key: Properties in well-connected areas with good schools, hospitals, and transportation tend to sell faster and at better prices. Think about how the area might grow in the next 5–10 years.
• Builder reputation matters: homes built by trusted developers often have better resale value. People feel more confident buying from builders with a track record of quality and timely delivery.
• Market trends play a role: Property prices go up and down depending on the economy, interest rates, and demand. Keep an eye on the market to sell at the right time.
• Clear documentation is a must. If your property has all the legal papers in order, reselling becomes much easier. Buyers will trust you more, and the process will be faster.

Wrapping Up: Your First Home Awaits!

Buying your first home is a big step, but with the right preparation, it can be an exciting and rewarding experience. Remember to focus on the essentials:

• Location: Choose an area that fits your lifestyle and has growth potential.
• Builder Reputation: Go with trusted developers who deliver quality and transparency.
• Documentation: Double-check all legal papers to avoid future hassles.

Take your time, do your research, and don’t hesitate to ask questions—no question is too small when it comes to such an important decision.

If you’re looking for a dream home in Chennai, ASN Housing has beautiful 2 BHK and 3 BHK apartments in Chromepet, designed with your comfort in mind. Ready to take the next step? Visit us today or drop us a message—we’re here to help you find the perfect home!