As soon as people start earning, the first thought that comes to many is to buy their own house. Some jump into the process without much hesitation, investing whatever cash they have, while others hesitate, held back by doubts and fears. While it may not require excessive planning, making property purchases does need some careful thought. A wrong decision can be hard to recover from. So, what are the challenges faced when buying a house? And what are the solutions to overcome them?
Owning a home is a life goal for many. While it might have been easier in the past, buying a house today is not as simple as it seems. Land prices have skyrocketed, and finding a property in the desired location feels like a rare stroke of luck. Despite these challenges, many people spend their lifetime earnings just to own a home. That’s why every step in the property-buying process must be taken carefully.
However, doubts and questions always linger when purchasing a house. Does the builder have a good reputation? Will the location have demand in the future? Will banks create any hurdles with the loan process? After investing so much, will there be any issues with the apartment? These concerns constantly trouble buyers. Yet, when compared to the rising rental costs, many believe that buying a home is the better choice.
If you want to own a home, once you decide to buy, you must move forward with a solid plan. Choosing a house that fits your budget and financial capacity ensures you won’t face difficulties in the future. The first thing to consider when buying a home is the location. Since you’ll frequently travel for work, your children’s education, and daily needs, it’s best to choose a place that’s as close as possible to your workplace and schools rather than somewhere too far away.
Also, evaluate transportation facilities and the future demand for the area. Try to assess how much development is expected there. Budget is another crucial factor—while a home is the most valuable asset for anyone, it also involves a significant financial commitment. To manage this, unnecessary expenses should be cut down, and a clear financial plan should be in place.
Apart from the house itself, essential amenities like water and electricity must be checked. Ensure there is enough parking space. If you’re buying an under-construction property, you’ll have the flexibility to make modifications. However, if it’s a completed house, inspect it thoroughly for any issues before making a decision. Checking the builder’s track record before proceeding will help you avoid future problems.
Wanting to buy a home is one thing, but having the necessary funds ready to make it a reality is another. In most cases, there is a gap between our estimated budget and actual property market rates. This is when people turn to bank loans. In today’s world, buying a house without taking a loan is nearly impossible. Depending on your income, you may need to take a small or large loan from the bank.
After completing the necessary verifications, banks typically sanction 70% to 90% of the property’s value as a loan. Once you determine the interest rates and arrange for the down payment, it becomes easier to calculate the total loan amount and the monthly EMI (Equated Monthly Installment) payments. While paying EMIs might feel burdensome initially, over time, as you adjust your finances, it becomes a routine part of your expenses.
It is natural for house prices to vary depending on the area. In places like Adibatla, Shamirpet, Patancheru, Ameenpur, and Kollur, flats are available at relatively lower prices. Builders are developing good 2BHK apartment units in these areas within a price range of Rs 50 to Rs 80 lakhs.
Meanwhile, in areas like Kondapur, Madhapur, and Miyapur, 2BHK apartments are available in the range of Rs 1 crore to Rs 1.5 crores. These projects are being developed by some of the city’s leading companies, offering premium units within an affordable budget. Let’s take a look at where such projects are located and their details.
Location- Kollur
Price range- Starting from Rs. 74 lakh
GHR Infra is developing the GHR Callisto project in Kollur. This project offers 2BHK, 2.5BHK, and 3BHK flats ranging in size from 1,195 to 1,915 square feet. The price range starts from Rs 74 lakhs. The company has announced that the project will be completed and possession will begin by the end of this year.
Project- Muppas Melody
Location- Tellapur
Price range- Starting from Rs. 78.20 lakh
Muppa’s Melody is offering luxury flats at affordable prices in Tellapur, which is very close to the Financial District. This project spans 8.33 acres and includes 2BHK, 2.5BHK, and 3BHK flats. The starting price for these units is Rs 78.20 lakhs.
Project- Radhey Skye
Location- Kollur
Price range- Starting from Rs. 86 lakh
Radhey Skye is emerging as the best choice not only for those dreaming of owning a home but also for investment purposes. Located in Kollur, this luxury project offers spacious 2BHK, 3BHK, and 3.5BHK flats ranging from 1,325 to 2,610 square feet. The starting price for flats in Radhey Skye is Rs 86 lakhs.
Project- Giridhari Happiness Hub
Location- Kismatpur
Price range- Starting from Rs. 87 lakh
Giridhari Homes is creating luxury living spaces at affordable prices, offering customers a lavish lifestyle. Their upcoming project, Giridhari Happiness Hub, is located in Kismatpur. This project features 2BHK and 3BHK flats with sizes ranging from 1,033 to 1,601 square feet. The starting price for these units is Rs 87 lakhs.
Project- Bodhivriksha
Location- TGPA Junction
Price range- Starting from Rs. 93 lakh
Shantasriram Constructions is developing the residential project “The Bodhi Vriksha”, which has received HMDA approval. This luxury project is located near TSPA Junction and offers 2BHK and 3BHK flats ranging from 1,088 to 1,975 square feet. The starting price for these units is Rs 93 lakhs.
Project- SMR Vinay Iconia
Location- Kondapur
Price range- Starting from Rs. 1.31 crore
For those looking for flats within a Rs 1.5 crore budget in Kondapur, the IT hub, SMR Vinay Iconia is the best choice. Possession has already started for this project. The starting price is Rs 1.31 crore, with variations depending on the flat dimensions.
Location- Miyapur
Price range- Starting from Rs 1.5 crore
Looking for luxurious and lavish apartments in a skyscraper at a reasonable price in Miyapur, the heart of the city? Candeur Twins is making buyers’ dreams come true! This project offers premium 3BHK units within a Rs 1.5 crore budget, making it a bumper offer for homebuyers.
The unit sizes range from 1,590 to 2,060 square feet, providing spacious living options. Additionally, all major banks are offering home loan facilities for this project.
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