Vishakhapatnam or Vizag is called the “City of Destiny”. Not only is it a picturesque place, but also one of the fastest-growing cities in India. No wonder, real estate in Vizag has significantly grown in recent years, and if you are looking to buy a house in Vizag, we will guide you to make a well-informed choice.
Vizag is a smart city and is also one of the safest coastal areas with affordable and luxurious houses. Buying a house here can give you very high returns on your investment. Here are the steps you must follow if you want to buy a house in Vishakhapatnam.
Steps for Buying a House in Vizag
1) Choose the right locality –
A few factors should be kept in mind while choosing the locality of your house, like safety, hygiene and proximity to places such as schools, offices, etc. You must also make sure that the location is easy to reach by cab or public transportation.
2) Find the right property agent –
Having a resourceful agent with a record of good past successes is a great advantage. Find someone who knows their way around the city and is familiar with all sorts of advantages and disadvantages of the different localities in Vizag. The negotiation skills of a credible agent are a bonus since they can get you the best deals and make your investment profitable in the long run.
3) Know what kind of house you want –
Have a clear idea about the type of property you want, including the area per square feet you need. Fixing a budget makes it a lot easier to narrow down your choices amongst apartments for sale in Vishakhapatnam. While figuring out your budget, you must also keep track of the overhead charges like legal fees, brokerage fees, property tax, stamp duty, etc.
4) Check the credibility of your builder –
Know your builder’s reputation by running a background check on it before investing. Have an idea about the kind of work they do, the materials they use and the services they provide, along with their past successes and failures. This will also boost your home loan eligibility if you are looking to borrow funds.
Additional Read: Want to Own a Home? Find Out How
How to Secure a Home Loan to Buy Your House?
The time has come when you do not have to give up your dream to buy a flat in Vizag solely because it seems unaffordable. You can now check youreligibility criteria and apply for the housing finance scheme best suited for you, at reasonable interest rates. So, if you need financial assistance, do not hesitate. Get all your property, income and tax-related documents in place and apply for a loantoday.
Additional Read: A Detailed Guide for Buying a House in Top Indian Cities
Hopefully, finding an apartment will not seem as much a daunting task now, as it was before you read this article. Remember that investing in real estate during the Covid-19 pandemic can be a profitable venture since it is now the buyers-market and interest rates are at a record low.
Are you looking for housing finance? At Tata Capital, we offer loans at attractive home loan interest rates and flexible EMI repayment terms. Before applying for a home loan in Vizag, we suggest you check your eligibility by logging on to our website. Get in touch with Tata Capital and enjoy attractive home loan rates today.