Beware Of These 7 Sales Gimmicks When Buying Your First Home

"Realty prices will be up soon"

It is one of the most used tricks by almost all the developers. When seeking flats to buy, if you tell a developer that you need time to decide, the most favourite dialogue they use is the property is almost sold out and the rates will go up soon. But, in realty, developers are more desperate to sell their projects than buyers are keen to buy due to sluggish market situation.

“We offer Pre-EMI sharing schemes”

The meaning of pre-EMI sharing schemes is when taking a home loan, it get disbursed depending on the construction stages. This means home buyers do not have to pay EMIs on home loan till the construction is getting over as well as getting the possession in hand. But, home buyers have to pay the loan interest from the first disbursement. Adding to it, several developers choose pre-EMI sharing scheme where they pay this amount for a period of normally 24 months.

But the fact is, before choosing this pre-EMI scheme, home buyers need to ensure that the developer has not padded up the cost. This means, developers might not give any discounts or freebies in the deal. Therefore, it is always better to bargain at the first place when buying a house and then choose the scheme. Moreover, if developer delays to complete the project on time then the time period for pre-EMI payment will get extended and home buyers will end up paying the balance payments all by themselves.

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