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For every first-time home buyer, buying a property may turn out to be a gut-wrenching experience. The experience of the home buying process entirely depends upon how well you are prepared for taking different decisions at different stages of home-buying. The process can drag all your potential to deal with uncertain scenarios
However, entering the process by gaining some basic clarity and understanding will surely help you make the best home buying decision. In India, we often find, first-time home buyers looking for houses within a modest price range, but with adequate space for their growing family. Similarly, a family with a teenager or an elderly person in the house will have different requirements.
Below mentioned are some of the possible considerations while buying your first home; however, they may require different weight-age or priority depending upon the individual’s choice & circumstances.
This is the first step, to begin the process of buying your dream home. So, grab your calculator – if you don’t want it to become a nightmare.
Don’t buy what you can’t afford.
Now that’s the most basic and the most ignored rule.
We often come across couples and families slumped in debt, merely because they invested in a property that they could not afford.
If you want to buy a house that won’t bust your financial stability than you simply need to reassure your money management.
After settling on the budget, you can now move to the next step, i.e. look for locations that can offer you properties within your price range. With every price range there comes a lifestyle and its choices, but most importantly people look for a home that is at an adequate distance from their workplace, surrounded with good educational institutes, and has other social infrastructure like – malls, cinema hall, parks, etc.
Needs & Wants
You should be able to make a clear distinction between what are your necessities and how to classify your desires. While listing down your requirements, it is of utmost importance that you stay practical and realistic.
For more clarity, you can take up an exercise – analyse your requirements for buying a house under ‘Needs’ and ‘wants’ and tick off those which fit into the allocated budget. This will give you a realistic picture of your needs and wants.
Make wise choices
With the great brand name comes a great responsibility.
Be wise while selecting the project, buying homes with renowned builders assures you with better construction quality, transparency, hassle-free transaction, better facilities & amenities, value for money investment guaranteed, etc. You can take time out to read project details on the MahaRERA Website, which will assure you about the Builder’s & the Project credentials
Thus, to keep yourself away from these hassles always look forward to investing with developers who have a market value and the one who will never steal your hard earned money.
So, all the first-time house buyers try following these tips to simplify your home buying decisions.