FAQ
FAQ
Frequently Asked Questions
Am I Ready to Be a Homeowner?
You may be ready to buy a home if you have a stable income, savings for a down payment, and clarity about your long-term plans. Understanding your budget, loan eligibility, and monthly expenses is the first step toward homeownership.
Is Renting or Buying Better?
Renting offers flexibility and lower upfront costs, while buying builds long-term value and stability. The right choice depends on your financial situation, lifestyle, and future goals. MakaanMaliq helps you evaluate both options clearly.
What Is the Lender's Formula?
Lenders assess eligibility based on income, existing liabilities, credit score, and repayment capacity. This formula ensures the loan amount is affordable and sustainable over the loan tenure.
What Do I Look for in Homes?
Look for a home that fits your budget, location needs, and lifestyle. Key factors include neighborhood connectivity, property condition, legal clearances, amenities, and long-term value. Always balance present comfort with future resale potential.
Do I Need a Home Warranty?
A home warranty can provide peace of mind by covering the repair or replacement of major systems and appliances. While not mandatory, it can be helpful—especially for resale homes or older properties.
What Should I Expect at Closing?
At closing, you’ll complete legal paperwork, verify property documents, and finalize payments such as stamp duty, registration charges, and remaining balances. Once completed, ownership is officially transferred to you.
What Is Pre-approval?
Pre-approval is a lender’s confirmation of how much loan you are eligible for based on your income and credit profile. It helps you set a clear budget and strengthens your position when finalizing a property.
Am I Ready to Rent?
You’re ready to rent when you have a stable income, security deposit, and clarity on location, budget, and lease terms. Renting is ideal for flexibility and short- to medium-term living needs.
What Should I Offer?
Your offer should reflect market value, property condition, and current demand. Consider recent sales in the area, negotiate reasonably, and factor in registration costs, taxes, and any renovation expenses before finalising your offer.
Can I Ask You for Advice?
Absolutely. MakaanMaliq is here to guide you through every step—from property search and pricing to documentation and final decisions—so you can move forward with confidence.
