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In terms of financial investment, buying a home is not just about paying for the property. It also entails other expenses, such as registration fees, stamp duty, and payments to interior designers, packers, and movers. With numerous expenses involved, it is natural to overlook some, which can topple your entire budget. In short, home-buying requires careful planning, much in advance.
In this blog, we take a look at some tried-and-tested ways to make your home-buying experience smooth, with fewer financial hurdles. We also offer you a detailed look at Provident Botanico, stunning two and three-BHK apartments in Soukya Road, Whitefield, which boast world-class living standards and a pocket-friendly payment plan. Read on.
Ensure financial ease
Adopt these measures to ensure your home-buying journey is financially smooth and free of bumps.
Planning is a must: There’s no such thing as too much planning when it comes to buying a house. To begin with, set a timeline. If it’s a short-term goal, say in less than three years, you should have ideally saved close to three-fourths of your down payment by now. Also, avoid any other major financial investments. If you plan to buy your dream house within three to five years — i.e., medium-term goal — save consistently and increase your savings, keeping in mind increasing property rates. And if it’s a long-term goal with more than five years, well, you have ample time. Start with small but consistent savings and increase the amount as you get closer to the deadline.
Also, have you heard about the golden 28/36 rule that’s popular among financial planners? It simply means that your total home-buying costs, including EMI, insurance, etc., should not exceed 28 per cent of your monthly income. Also, make sure that your total debt load is less than 36 per cent of your total income.
Pay heed to ‘hidden’ expenses: Don’t just account for the property’s price and other necessary expenses when planning to buy a home. Instead, consider ‘hidden’ factors such as brokerage fees, housewarming party costs, home loan processing fees, housing society maintenance charges, and even an emergency fund. In short, do not miss anything, no matter how seemingly minor, and plan well in advance.
Choose the best lender: Don’t always take out a home loan from a bank where you already have an account, just because it’s convenient. Do a thorough comparative study of various banks/reliable financial institutions and choose one that offers you the best option. Also, understand the various EMI options—fixed-rate and floating-rate interests—and determine which best suits your financial condition and goals. Opting for a pre-approved loan is also a good idea, as it gives you clarity on your borrowing limit. It also makes you financially ready and enhances your negotiating power with sellers.
Increase your down payment: Pay as much of the property price as you can as a down payment. This is possible through meticulous financial planning. It will help you reduce the loan amount, thus resulting in lower EMIs and reduced overall debt load. This also means that you can repay your loans faster and be the true owner of your house.
Go for a buyer-friendly developer: The last is, of course, very important. Go for a trusted developer who wants to make your home-buying process stress-free with strict adherence to rules and regulations, respect for timelines and easier payment options. For example, did you know that you can enjoy world-class living standards in one of Bangalore’s most premium localities, where home-buying won’t feel like a financial nightmare? Welcome to Provident Botanico, Soukya Road, Whitefield, a coveted address in East Bangalore nestled in nature. Spread over 17 acres, it houses 1,275 2 and 3-BHK luxury apartments in nine high-rise towers. Let’s explore together.
Provident Botanico: Enjoy natural beauty and bliss
Here’s looking at what makes these apartments in Whitefield a dream opportunity for every home buyer.
The 20:80 ease: Worried about hefty down payments and heavy EMIs? Not necessary at all. At this property, set amidst lush greenery, you can pay just 20 per cent of the price at the time of booking, and pay the rest when you get possession. That gives you ample time to save the remaining amount and explore the best loan options. You will need to borrow less money, which reduces your overall financial burden.
Ace connectivity: In today’s hectic world, connectivity is key when choosing a home. Provident Botanico excels in this regard. It is just 12 minutes away from the Hopefarm Channasandra Metro Station and 30 minutes away from the KR Puram Railway Station. Many upcoming infrastructure projects, such as the Peripheral Ring Road (PRR) and the Satellite Town Ring Road (STRR), are also nearby.
IT hubs a stone’s throw away: Whitefield is home to numerous IT organisations and job hubs, making Provident Botanico a dream location for the working population. Some of the reputed job hubs nearby are: Brigade Tech Park (14 minutes), ITPL (16 minutes), First Technology Park (16 minutes), RMZ Eco Space (15 minutes), Prestige Shantiniketan (18 minutes), Sigma Tech Park (18 minutes), and
Divyashree Technopark (20 minutes). SAP Labs, iGATE and Tesco are also just 15 minutes away.
Stellar social infrastructure: What’s one of the most non-negotiable factors for families exploring dream home options? Well, it’s proximity to social infrastructure, be it educational institutions or healthcare facilities. These apartments in Whitefield score high in this aspect. Many reputable schools and colleges are less than 15 minutes—yes, you read that right—from here. These include Bangalore International Academy (one minute), Bloomers School (eight minutes), Shriram Global School (11 minutes), DPS Whitefield (12 minutes), and MVJ College of Engineering (10 minutes). The locality also boasts some of the best hospitals in the city, including Sathya Sai General Hospital (16 minutes), Manipal Hospital (18 minutes), and Aster Whitefield Hospital (19 minutes).
After a hard week at work, you don’t have to travel far to indulge in some weekend fun. Provident Botanico is close to some of the best malls and shopping centres. You can hang out at Nexus Whitefield (9 minutes), Park Square Mall (14 minutes), Nexus Shantiniketan Mall (18 minutes), Phoenix Market City (24 minutes), or VR Bengaluru Mall (24 minutes).
Amenities par excellence: Buy a home at Provident Botanico, and enjoy world-class amenities. The property offers more than 40 stellar facilities, including a well-equipped gym, a meditation pavilion, a tree house, a swimming pool, a yoga pavilion, an activity zone for children, a mini theatre, a tennis court, an indoor games room, a multipurpose ground, a beach volleyball court, and a jogging track. It has a spacious clubhouse spread across 20,000 sq. ft and a rock garden covering close to an acre, with more than 30 indigenous tree species. Security is also top-notch with 24/7 CCTV coverage and entrance doors fitted with video phones.
Conclusion
If you are planning to buy a home in Bangalore, this is probably the best time. According to reports, residential property sales in the city are expected to increase by three to five per cent in the coming financial year. With Whitefield counted among Bangalore’s prominent localities, buying a property here will make you the owner of one of the most coveted addresses in the city. As a locality with excellent connectivity and social infrastructure, this area also commands high rental income. While scouting properties here, also take a look at this blog, which features the best shopping destinations in East Bangalore.
FAQs
- Which is the oldest IT park in Whitefield?
The oldest IT park in Whitefield is the International Tech Park Bangalore (ITPB). It was established in 1994.
- What is the rate of property appreciation in Whitefield?
With numerous IT hubs, excellent connectivity, and top-notch social infrastructure, Whitefield is one of the most in-demand destinations in the real estate market. According to reports, the area witnessed a YoY increase of 14.93 per cent over the past year.
- What are the main advantages of living close to nature?
Choosing a home that’s surrounded by natural beauty has multiple benefits. Physical benefits include breathing in pollution-free oxygen-rich air, better immunity and sleep quality, and enhanced energy levels. Looking at greenery is also said to have a positive influence on eyesight. Nature does wonders for mental health, too. It brings down stress levels, boosts the ability to concentrate, and is even said to benefit people with conditions like Attention-Deficit/Hyperactivity Disorder (ADHD). In short, living amidst nature elevates your overall quality of life.
Sources:
KCP Promoters | Welfin | Provident Botanico | Provident Housing | Economic Times | Olive Living | Housing | Nimba |
