Buying a home is one of the biggest financial decisions in an individual’s life. Therefore, it is important that much thought and analysis is put into the process to ensure a good deal. When negotiating the value of a property, here are six things you need to keep in mind.

1. Know the best price of your property: Whether you are going to self sponsor your next to be home or resorting to a housing loan scheme, one thing you must work around is to figure out the best negotiable price for the property you are looking to finalize. Often, unaware buyers in India end up buying a property at a cost much higher than its market value. So, for you to take a position to negotiate well, you need to know the realistic price band of the particular property in the market.
2. 2.      Possession: When looking at the possession tenure, there can be two situations. One that the property is ready for possession on payment and second is when the property is under construction stage. Here, it becomes crucial for you to look out at the time in which you will be able to take over the ownership. Home loans are subjected to fluctuating interest rates; and longer the loan tenure will be, the higher the repayment would get. Therefore, it would be in your best interest to seek housing loan for a time period as close to possession as possible. Taking a home loan and waiting for years to get possession over the property can be tediously costly. 
3. Options other than the already associated housing finance: Nowadays, most of the housing projects and properties come along with an associated house loan provider. You need not give away in pressure, but negotiate the interest rates with the associate bank or look out for a healthier loan option within your budget.
4. Nature of interest rates: Floating or fixed, the interest rates on house loan are subject to sudden fluctuations. Hence, one must talk his way out to pick an interest rate model on home loan which has a low base rate to stay safe against market shift.
5. Tenure between partial to full payment: No matter what tenure your property seller puts on offer, one must negotiate the tenure time between the initial payment and full payment to be in accordance to your terms of housing finance you wish to seek credit from.
6. Avoid mortgaging: There are banks and institutions who stress on customers to keep the property open for mortgage recovery in case of no-payment of the availed home loan. It is usually suggested to refrain from putting property to be bought to such condition as fraudulence can be put to manipulate terms to get the property sold before possession by the initial buyer.

Therefore, before setting your eyes on a property for purchase or land unit or selecting a house loan, the above factors must be put to negotiation so as to ensure a competitive benefit in buying your residential pursuit. Also, home loans of particular banks and institutes have a list of property tie up already and you should avoid settling for the finance providers approved properties since there is a high chance of price and transfer status manipulation to an extent which can prove fatal to your finances.