There are many things to take care of, while buying a home. A single wrong decision can cause a lot of emotional stress and huge financial losses. So, it is very essential to have a guide to house buying. You should consult a good friend of yours or a reputed real estate agent for seeking helpful tips and to ensure you get your money's worth. The new home buying tips, mentioned in this article for young couples who are entering the real estate market for the first time might prove to be very useful at every stage of home buying. Now, let us go through the valuable tips to guide you while buying a house to avoid any kind of problems later on.
Choose Your Location As Per Your Budget
The first step involved while buying your dream home is to choose an appropriate location for yourself. The location chosen should be such that it is suitable for you in all the ways like, it should be pollution free, should have all the good amenities required for living a comfortable life, and closer to your office and your kid's school, so that there is no problem while commuting daily. Keep in mind your budget while buying your home and do not exceed it as it might cause you financial troubles later on. Whether you are buying a flat or an apartment, you should select an upcoming area, so that you will get an excellent appreciation for your property, if the per square feet rates of your locality increase.
Decide the Type of Home You Want
Homes are of different types and various sizes. The cost of the home gradually increases with the increase in its area. Consult some knowledgeable people of the locality where you wish to buy a home, or an estate agent to find out the exact property rates of that locality. While home buying, you have many choices like an apartment, a duplex, a row house, a penthouse or an independent bungalow. Each of these kinds of homes have some advantages and some disadvantages associated with them. For example, an apartment or a duplex may guarantee you more safety than an individual bungalow, as for a bungalow you might need your own security system which might prove costly. A penthouse or a bungalow are generally costlier than the apartments. However, they have a more royal and luxury feeling and are more spacious than the other kinds of homes. Choose your home as per your needs and budget.
Some Vital Things To Remember While Buying Homes
At the time of home buying, you should have an agreement done with the developers and the builders, and ask them for convenient payment options. You can secure home loans from banks by home mortgaging, but make sure that you have the capacity to repay them because, failure to do so can cause confiscation and subsequent auctioning of your home by the bank to clear off the pending loans. Make sure that the title of the plot on which the bungalow or the society has been built is clear and has a no objection certificate from the local government authorities. You should see to it that you are getting all the amenities and facilities which you were promised while signing the agreement. Secure a competition certificate from the builder once the project is completely done. You should get your home insurance done, for your good. Take advantages of the various schemes and offers floated by banks and builders for your financial benefit. Buy your home in the festive seasons, as the rates are generally reduced at this time, if possible.
A home is a place where we get peace of mind and solace after working hard for the entire day and it is our costliest and most precious possession. So think before you leap!
