Even though buying a new home is exciting, it is also a big investment which a home buyer takes after thorough deliberation. To ensure the home buying journey is smooth, a buyer has to do a significant amount of research. This gets trickier if you are planning to buy a house in a different city.

Property investors by and largeusually have an inclination of investing in a property where they have lived for a long time such as their native place mostly because of the level of familiarity with the city and its people. However, with growth in the economy leading to an increase in disposable income, people are extensively relocating to different cities in search of better opportunities, often with the intention of settling in that city.

Let's look at this example, Mumbai is a city of opportunities and thus attractshordes of people every year from different parts of the country. Therefore, migrants form a huge chunk of the demography in Mumbai and the maximum city with its sustained growth is going to remain a lucrative place in the coming yearsas well.

An increase in discretionary income also, in turn, necessitates the need to shift from a rented place to owning a home. As per the 2001 census, Maharashtra received the largest number of migrants (7.9 million) by place of birth from other states and other countries.

Not just Mumbai, cities like Pune have also seen the influx of a lot of migrants given the rise in job creation in the city. According to data, property prices in Pune have seen an appreciation of 15% to 20% over the last three years largely led by a rise in demand and clearlyindicating that people are much open to the idea ofsettling in a non-metro city.

New businesses in domains such as IT, manufacturing and BPO services being steadily set up in Pune and Mumbai are also increasing the demand for budget homes from employees working in all these sectors.

So, whether you have got a great job opportunity or you are looking to buy a new home, we through this article will try to help you, in making your home buying, in a new city a tad easier.

In-depth research

Hunting for that perfect house is a daunting task however proper research about the city and the locality will always keep you away from any unforeseen hassles, which is common among ill-informed homebuyers. If you have already identified a city, it is important to know every detail starting from the affordability, living cost, locality, job market and so on. It is also recommended to talk to the residents living in the localities in orderto gauge the livability index.

Where to invest?

Earlier, the common man who invested his life savings into buying a real estate had limited rights. To change this, the government imposed the Real Estate Regulation and Development Act, 2016 to protect and safeguard the interest of home buyers, and ensure that they are not duped or exploited by any developers.

However, even as the implementation of the Real Estate Act has provided a sense of confidence and assurance to the common man, it is still important for the home buyer to investigate the reliability and credibility of developers and the projects before zeroing down on a project. Growing cities which see a sudden spike in demand for homes often give rise to unscrupulous builders and projects, therefore it is imperative to weed out anything dubious.

How are the city's transportation options?

From buses and taxis to subways and ride-sharing programs, make sure toresearch the city's transportation options before buying a house in a new city. If you plan to use one of these options to get around the city, you may want tofind a new home locatednear public transportation. If public transport options are not coherent then you would have to invest in a car of your own, whose costs should be factored in your overall budget.

Is the commute to work long?

Is it important that you live near your office? Or are you fine with a long commute as long as you get to live in your dream city? It is important to remember that long commutes aren't for everyone. Having your home close to your office will not only save time, but it will also increase productivity and leave you with a lot of free time to spend with the family. So make sure to carefully weigh the positives and the negatives of a long commute before settling in on a house.

Relocating to a new city is not necessarily a difficult thing with proper research and planning. To sum up, one should definitely consider buying a home in a new city be it in search of better job opportunities, a better standard of living or simplyas an investment option.