There comes a time in every renter’s life when they get fed-up of doling out money at the end of every month and tolerating the unreasonable ‘do’s and don’ts’ from the landlord. That the wake-up call when you realize there are other options out there as well that are pretty lucrative in the long run too.

Many renters don’t realize that the money they put down each month can be used as EMI payments instead, towards a home that they would end up owning at the end of the day; this is against spending the same amount each month, lining somebody else’s pockets and still having no permanent of their own. It’s pretty obvious which option you would go for!

And once you have decided to buy a property of your own, you first need to go shopping for a home loan; different banks offer different interest rates, so look for the one that offers the lowest interest rates and check how much loan you are eligible for. After this, you will have an idea of your budget for your new home and can shop accordingly.

Going home-shopping can be an exciting experience, but you need a set of guidelines to follow as you have to be very careful since there are many fraudulent builders out there too. Look for homes, preferably apartment complexes that are built by reliable builders who have a reputation to match – the Heather Homes builders come to mind here. And don’t go by the shining brochure either, as the information within may not always be right. Go check out the physical structure for yourself.

Next, check the location of this apartment complex. Is it located close to pollution spouting factories or landfills? Are the roads leading up to it in good shape? And what about the traffic situation in that area, are there traffic snarls at peak times? Don’t take anyone’s word for it, drive by the location yourself and check first-hand.

You also need to stalk the neighborhood….visit at different times of the day and night, week days and weekends; this will give you an idea of the activities happening around the home. Are the roads leading to the apartment safe? Will it be ok for your child to walk safely in this neighborhood? All these questions need to be answered in the positive before you take too much interest in the investment.

Another aspect to check is the nearby availability of important facilities like schools, hospitals, pharmacies, supermarkets, bus stops and rail connections. These features are not only important for you, but also for the future salability of the apartment in case you are moving away.

Once all these criteria have been met, it’s better to hire a property lawyer for the signing process – as they know how to go through the nitty-gritty of the contract with a magnifying lens and find the loopholes, if any…..as everyone knows, property dispute cases are notorious for being dragged through the courts for years, and since it’s better to be safe than sorry, hire a professional who knows everything about tax payments, ownership changing, various government and local body approvals and certificates as well as sales agreements.

Once your lawyer gives you the green light, you can sign the dotted lines and become a proud home-owner!