Buying guide for first-time homebuyers- ATS Destinaire is the perfect choice By: WireDus, April 1, 2024

Buying a first home is always a special feeling, irrespective of its size or location. Home-buying is an overwhelming experience that often leaves individuals in a state of distress, especially when they have no luck finding the right home even after searching for months. Instead of initiating a search without a solid plan, individuals seeking a home for self-use should conduct a proper research. Based on their budget, they should seek the most suitable residential property, which could be a builder floor, apartment, duplex, or studio apartment. Once the budget and type of property are clear, along with the desired location, individuals can narrow down their options. Beyond mere walls and a roof, owning a home can evoke a sense of emotional security, comfort, and sometimes a feeling of accomplishment in society.

Grab all the perks of being first-timers:

First-time homebuyers in India are eligible for government subsidies and incentives, such as the Pradhan Mantri Awas Yojana (PMAY). This financial aid program is not only for the Economically Weaker Section (EWS), but also for the Low Income Group (LIG) and the Middle Income Group (MIG). Eligible individuals are also offered tax breaks based on their income. They can enjoy a deduction of up to Rs. 1.5 lakh on principal repayment under Section 80C, in addition to a deduction of Rs. 50,000 on interest repayment under Sections 80EE and 80EEA. Additionally, they can claim an interest deduction of up to Rs. 2 lakh under Section 24. The eligibility criteria to reap these benefits include a gap of at least three years for an individual to own a principal residence. A married couple, single parents, and individuals with joint mortgages can access these benefits. 

Now, let’s delve into a guide for first-time home buyers, which includes all the important tips to follow to land a great deal. It will help individuals transform their dream of the big purchase into reality, combined with perseverance, carefulness, and financial commitment. Start taking notes if you want to prevent making an expensive mistake. 

Funding from the bank: Homebuyers typically pay around 20% as a down payment and apply for a home loan to cover the rest of the payment. Buying a home in an apartment building is beneficial when a bank approves it after verifying financial and legal compliance. A property approved by a bank, such as ATS Destinaire, is the safest option. In addition to ensuring all essential compliance, banks also provide tax benefits on interest payments as well as principal repayments.

Check for RERA registration: RERA registration is an indispensable process for any developer or builder intending to launch a residential or commercial project covering an area of over 500 square meters. This initiative, taken by the government, aims to bring transparency between developers and buyers. Buyers can make informed decisions based on real-time information about the project. First-time homebuyers can visit the official website to verify whether the project is RERA registered or not. Each project registered with RERA receives a unique number.

Take a tour: Before finalising your home at ATS Destinaire, you can visit the sample flat to firsthand explore the bedroom sizes, balcony views, neighbourhood, ventilation, natural light, and noise-cancelling features of the apartment. Potential buyers can better understand the carpet area promised along with the built-up area, which covers the lobby, staircase, elevator, and more on the floor. The sample flat is fitted with all materials, fittings, and fixtures that you’ll get in your apartment, so check for their quality.

Explore amenities: Those who can afford 3/4-bed residencies must also explore the amenities offered by the property. This is an essential step in the home-buying process to ensure the apartment offers the lifestyle you wish to live. ATS Destinaire offers a state-of-the-art clubhouse for its community for networking, an open gym for fitness enthusiasts, banquets for celebrating occasions and festivals, and sports courts, such as a mini soccer area, indoor squash court, lawn tennis court, basketball court, badminton court, and more for kids. This is a perfect abode for children, adults, and elders alike. The apartment building also offers a spacious parking area for its occupants.

Price by floor: The per-square-foot price of apartments varies based on their location in a high-rise building, like ATS Destinaire. Those who opt for a higher floor or a corner apartment often have to shell out more compared to those opting for lower floors. So, make a purchase based on your budget if you want to buy an ATS home.

Review maintenance fees: Apartments with amenities often impose mandatory maintenance charges that homeowners must pay either monthly or annually. The gated community of ATS Destinaire charges minimal maintenance fees in exchange for exclusive amenities and services. These costs cover all services, including housekeeping, security, parking fees, equipment use, repairs, and maintenance.

Check for Vastu compliance: In today’s times, many people believe in the influence of Vastu on both personal and professional aspects of their lives. ATS Destinaire offers Vastu-compliant apartments designed to enhance positive energy flow, promote good health, attract financial prosperity, foster better relationships, and improve concentration and productivity for its residents. If you are a believer too, then check for this aspect as well. 

The last, but not the least, tip for first-time homebuyers is to check the reputation of the developer. ATS Infrastructure is a trusted developer that can assist individuals throughout the entire process, ensuring that every future ATS resident has a happy and joyful buying experience.