What matters to most home buyers is the Surrounding Area (Locality) and the Safety Factors, how it makes them feel. Spending your hard earned money on homes is a crucial and important decision in our life.Buying New House comes with an astonishing feeling as the memories will be lifetime and it is the most expensive purchase you will ever make.
Buying a new home can be an exciting time but it can also be a daunting process, so apart from looks do consider the following tips before buying a new House.
Financial Planning –
Buying a New house is very Impressive, but your bank account might not be as eager as you are. Know how much of your savings you are willing to spend before you get in over your head. Begin by grounding yourself in reality and determine the present major needs of Family.
Once you’ve purchased the house, you’ll have more costs you didn’t have expected, some of which could include HOA fees, Property taxes, and Property, as well as any Home maintenance costs that come up unexpectedly.
Research about Builder, Building Approval Plan, Commencement Certificate (For under Construction property), Occupancy Certificate (for a Constructed property), RERA Registered Number, Stamp Duty, Registration Fees and other Variable Charges like real estate agents Fees, Lenders or Mortgage brokers, Home Inspector, Land Surveyor, Lawyer or Notary etc
It Sound Obvious, but no matter location plays a vital role as all your basic and local amenities should be avail at walk able distance. School for Children, Your Office Route and the Neighborhood. Also it has a great Impact on the Resale value of your Home so don’t be emotional because in real estate it’s always Location, Location and Location.
Price/Size & Possession Date-
Once you do fund planning, Homework and decides the location then you should look for a size that fits best as per your family requirement, considering the number of members in a family and their age and other factors.
Basis of your requirement of 1 or 2 BHKs, one should also look for options that are available in that selected location and fits your budget requirements.
Possession is one of the most important factors while buying a home as on ready property you will save a GST amount and also you can check the quality of the structure and get an actual idea about a space of your home. Once finalized you have an option to move immediately too.
To ensure that everything about the property dealing is understood and that there will be no legal surprises after you have purchased your House. Be it purchase, construction, sale or lease of property, legal advice is essential and recommended all the time.
You have a responsibility towards yourself and towards your family and doing all the above due diligence before buying your House, will ensure that “What you thought is what you got”! Buying a House brings a Sense of Pride and Freedom.