Buying your first home? It requires hard work, diligence, and financial commitment to transform the dream of buying your home into a reality.
If you are a first-time buyer, then you need to be extra cautious. You should know the ins and outs involved in the whole process from beginning to end.
Are you looking for a home? It demands time, effort, and commitment. Explore those options that suit your current lifestyle and budget. Purchasing a house is a once-in-a-lifetime affair for
most people, and it should be your priority to find a perfect home for you and your family.
Think of the future while buying a new home. It should fulfill your family’s needs in the future in terms of location, value, and living space.
Essential advice and tips for first-time home buyers.
- ● Size matters: A vital factor to keep in mind before buying a home is the size of the house you want. Always keep in mind the number of members in your family and estimate your budget before deciding the size of the house. Also, determine your home’s utility, whether it would be solely for self-use or you are buying it to invest your money also.
- ● As the floors rise, the price also rises: Developers charge a higher per square foot rate for flats located on higher floors in a multi-story high-rise building. A first-floor apartment may cost you less than the apartment that is located on the 10th floor. Corner flats come with an extra price. Always consider these factors before buying.
- ● Always set a budget: Please carefully review your finances before heading out to purchase a house. Estimate your monthly disposable income and liabilities. If you are debt-free, you can buy a home up to five times your total household income. If you pay a debt of less than 20% of your monthly payment, you can buy a home that is not more than four times your income.
- ● Always look for a house that offers amenities that suits your needs. Housing apartments may come bundled with amenities like a gym, spa, swimming pools, and clubhouses, but you have to pay the costs for these as well. You should determine whether you need that particular amenity or not. If you have vehicles, always look for apartments that provide ample parking spaces and a garage.
- ● Choose the right location: When it comes to buying a new house, location is an essential factor you should consider. It should not be very far off from your workplace and the schools of your children. Always choose a location near a hospital, a metro station, and a railway station. Always select a house that has a quiet neighbourhood.
- ● Choose the right builder or developer: The developer’s market reputation and track record are of utmost importance when it comes to buying a flat or apartment. Whether the builder has a track record of completing the projects on time or not, whether the builder has delivered what they have promised in the past or not. Always make sure to remain vigilant and purchase the right property that suits your needs and budget.
So, follow these tips and start exploring the right property that complements your hard work
and intelligence.
