Frequently Asked Questions

Question about selling

Yes, a home can depreciate, although real estate is generally considered a good long-term investment. Depreciation may occur due to factors such as poor property maintenance, neighborhood decline, oversupply in the market, or economic downturns. However, real estate in prime or developing locations often appreciates over time. Proper upkeep, renovations, and strategic location can protect your property’s value.

Older homes can be just as valuable as new homes, depending on their condition, location, and upgrades. While new homes offer the latest designs, energy-efficient systems, and fewer repairs, older homes may be more spacious, built with durable materials, and located in well-established neighborhoods. Buyers should always consider inspection results, renovation costs, and long-term maintenance before making a decision.

A real estate broker is a licensed professional who helps people buy, sell, and rent properties. Unlike agents, brokers have additional education and experience, and can work independently or manage a team of agents. Brokers handle negotiations, paperwork, legal compliance, and often provide market insights to ensure smooth transactions. Choosing the right broker can make the selling process faster and more profitable.

Yes, in some cases you can. However, if your mortgage includes an escrow account, your lender collects estimated property taxes and homeowners insurance premiums each month and pays them on your behalf. This ensures timely payments and protects both you and the lender from risk. Some lenders allow you to waive escrow and pay taxes and insurance yourself, usually if you meet certain equity or credit score requirements.

The home loan (mortgage) process usually takes between 30 and 45 days, but it can vary based on individual circumstances. The process includes pre-approval, document verification, home appraisal, underwriting, and final approval. Delays can occur if there are issues with the appraisal, incomplete paperwork, or changes in your financial status. Working with an experienced loan officer and staying responsive can help speed things up.

Question about renting

To rent a property, you’ll need to provide essential documents for verification. These usually include:

  • A valid government-issued photo ID (Aadhaar Card, Passport, or Driver’s License)

  • Proof of income (recent salary slips, bank statements for the last 3–6 months)

  • Employment verification letter or offer letter (if recently employed)

  • PAN Card (for legal and taxation purposes)
    In some cases, landlords may also request references from previous landlords or a guarantor, especially if you are new to the city or self-employed.

The rent is calculated based on multiple factors, such as:

  • Property location (central areas tend to be more expensive)

  • Size and type of the property (1BHK, 2BHK, furnished, etc.)

  • Amenities available (lift, security, parking, power backup, etc.)

  • Condition of the house (newly built, renovated, or old construction)

  • Demand and market trends in that area
    Landlords may adjust the rent slightly based on your profile, lease term, or negotiation. Brokers and listing platforms can help you understand current market rates.

Yes, security deposits are a standard requirement in most rental agreements.

  • In metro cities, the amount usually ranges from 1 to 3 months’ rent.

  • In some states like Karnataka, it can go up to 10 months’ rent, though reforms are reducing this.
    This deposit is refundable at the end of the tenancy if there are no damages, unpaid bills, or breaches in agreement. Always ensure that the deposit terms are clearly mentioned in the agreement.

Rent may or may not include additional charges. It’s essential to clarify with the landlord. Common inclusions and exclusions are:

  • Included: Maintenance charges (in apartments), water supply, parking space

  • Excluded: Electricity, gas, internet, and club house charges
    Some fully furnished or serviced apartments may include utilities and Wi-Fi in the rent. Always ask for a clear break-up and confirm it in the rental agreement.

Yes, but it depends on the agreement terms.

  • Most rental agreements have a minimum lock-in period (commonly 6–12 months), during which early termination may attract a penalty.

  • After the lock-in period, you are usually required to give 1 to 2 months’ written notice before vacating.

  • Some landlords may allow early termination without penalty if a replacement tenant is found.
    Make sure you read the exit clause and penalties in your agreement carefully before signing.