Palace Homes in one of the affordable home builders in and around Chennai providing Various Residential Flats and apartments.

1. How to Select the Right Home for your Budget
Most of us want to own a home, either to live in or to invest. The decision to buy a
home for first time buyers is both exciting and scary. Many of us scout property
websites; newspaper listings and we may even go and check out new projects that are
under construction. But at the end only a few people go ahead with the decision to buy
a house. So what is the best way forward towards selecting the right home that will
serve your present needs and will also give you due returns in time by way of price
appreciation. Mr. S. Kumaar – Founder of Palace Homes, one of the leading home
builders in Chennai has spelt out the following points for prospective buyers to consider
while buying a home in Chennai. At Place Home you can find quality homes, excellent
customer satisfaction and affordable home in Chennai, to know more visit
http://www.palacehomes.in/
1. Save for your dream home: With prospective buyers having to fork-up at least
20% of the total costs as advance, which is quite a big amount considering the
size of the home that we are looking to buy. It is important that we save up and
accumulate this amount, in-fact if you want to be a home owner by age 35 then
you should start saving up from the initial years of employment. By saving up for
your home you are reducing your financial risk factor and minimizing your home
loan burden in the long run.
2. Check your eligibility for home loan: Having saved up we need to check our
eligibility for home loan and determine the maximum amount of home loan that
can be availed. This will tell help keep our budget in check. Also compare home
loan Rates of Interest, between banks to choose most affordable one for you.
3. Decide on the most ideal home size for your family, keep in mind future
requirements: While buying a home, we need to consider the size of the home
based on present and future family needs. Many young couples may want to
secure a home and so opt to purchase Single Bedroom flats as they are the most
affordable options, but face issues later on due to lack of space and congestion
due to increased family members.

2. 4. Round up the most affordable locations: Property prices are primarily based on
the location of the proposed project. If you are on a tight budget, then do your
homework to check-out the most cost effective locations in Chennai. Bring down
the list to the 5 best locations keeping in mind the distance to work, schools and
accessibility.
5. Look at the accessibility factor: Easy access is must that you should consider
while purchasing a home. The flat/property that you plan to purchase should be
easily reachable by public transport, by car/bike and also should be at sufficient
walking distance to the nearest bus/auto stand. Some of us buy a home because
it was much cheaper than other properties in the neighbourhood, but is a bit
interior and the only way to commute there is either by own vehicle/auto.
Incidental and unavoidable auto fares/taxi fares may cost us heavily in the long-
run. So actually a property that we thought was affordable may end up costing us
more as a result of these incidental travel expenses.
6. Consider the neighbourhood: Whether we are looking to buy flats, villas or
individual homes we need to scrutinize the neighbourhood that we may be
moving into. Is it too secluded, is it too noisy, is it too dusty, is it close to the
market and other support amenities, how is the water quality, does the area get
flooded during rains.
7. Check out the amenities on offer: It is important to consider the value add-ons
that the builder will be providing for example Kids park, Paved and green walk
ways, gym, common hall, security features. In house features such as grilled
windows, overhead lofts, built-in shelves, foundation elevation, modular kitchen,
closed shelves, bathroom fittings. It’s good to do a thorough research about the
project and its various amenities on offer, better safe than sorry that’s the
mantra that all prospective buyers should adhere to, while purchasing a property.

3. 8. Builder’s reputation and reliability: Builder’s reputation and performance are a
must that should be considered before choosing to buy a flat/apartment. It is
ideal to buy a property from an experienced flat promoter, with a good track
record. Check if they have successfully delivered projects in the past or if some of
their projects are subject to legal entanglements. Also, check for the builders ISO
certifications and affiliation with leading property Building Organizations/
Builders Unions.
9. Check for CMDA approved projects: Check if the property/flat is CMDA approved
and if this is listed in the Flats Project plan and builders website. It’s also
important to check if the flat has been constructed in-accordance with the
approved building plan.
10.Project valuation and appreciation: Keep in mind the price appreciation factor,
to determine whether you will get the right property appreciation in the days to
come.
Contact Info
PALACE HOMES®
A-2, Ruby Palace,
5034, V Main Road,
Ram Nagar North,
Madipakkam,
Chennai.600 091,
Tamil Nadu, INDIA.

4. Website: http://www.palacehomes.in