Home buying is a big decision in one’s life. There is an emotional quotient attached to it. After all, it’s a leap forward that a person takes. And with so many options around, you are bound to get overwhelmed. So, it is essential that you consider your decision, before buying your first home. You should be convinced and happy with this lifetime decision. After all, it’s your first home and every purchase here after, will be second or third.
Below are some tips for first time home buyers, which can ensure that you are happy with your decision.
1. Your Budget:It is essential that you consider your budget before you take the plunge. You will get a lot of options within your budget, but it is important that you stick to it. When we say budget, we intend you to consider the property value, taxes and other charges, which are incurred when you buy a home.
2. Your Requirement:Once you have a budget in place, then take into consideration your requirement. Since, home buying is a long term decision, you must factor-in your long term requirements.Likewise, a 2 BHK will appear sufficient for now, but think long term and then decide. So, make a comprehensive list of your present and future requirements, and then view properties, which offers you the best price and amenities.
3. The Location:Well, we say The Location because it matters, quite a lot. Of course a property in a prime location will cost you, but it has its own benefits, as well. You need to consider school, hospital, supermarket among others in proximity to your home. In addition, the connectivity is equally important. So, give the location a precedence when you plan to buy a home.
4. Financing Option:Along with the above, when you plan to buy your home, consider your CIBIL score. It is on the basis of this score that banks will finance your home. Asses your income, the existing loans if any, the mortgage rates and your CIBIL score. It is on the basis of these that your dream home will be financed.
5. Legal Checks:Before you take the final plunge, ensure all the documentation is in place and are legal. A first time home buyer should seek help of a lawyer and get all the necessary checks done. You should get the documents examined and learn about any disputes on the property.
Use the above tips for your reference when you take the big decision of buying your house. Moreover, as far as possible, try to opt for a developer or real estate agent of repute and now with Real Estate Regulatory Act (RERA) in place you should also check for the RERA number of the project.
Planning to start the search for your first home? Then, give Valmark a chance. We understand the importance of your home buying decision and make not a house, but a home for you. A place you will love to call your new address. If you are planning to start your home search, then view our affordable homes and luxury apartment projects here. From beautiful homes to luxurious lifestyle, a Valmark home offers you more than your expectations. Come, let’s make your dream home, your first home, together.