“Home the spot of earth supremely blest, a dearer, sweeter spot than all the rest” truly said. The ache for home lives in all of us, the safe place where we can go as we are and not be questioned. There is something permanent and something extremely profound in owing a home attributed by Kenny Gumn to first time home buyers. Buying a home can be stressful and difficult task in today’s cut throat competition world cause the whole process is a complex journey and filled with unknown dilemmas and whammy costs.
So, if you are after property of your choice go for who don’t just sell property but can assist to make life easy going. You can rely on these expertise tips:
1 🙂 – Begin Saving – “Being in control of your finances is a great stress reliever”. Anonymous. Savings, availability of funds play key role in purchasing property as it’s mandatory not to have empty hand for prime down payment. To increase your down payments have excess savings, make use of PPF and take loan from friends or relatives as higher down payments leads to low interest rates. It is recommended for 20% down payment, however for new buyers lenders permit as low as 3% down payment. Make use of down payment calculator and dig into your down payment options as first home buyers programmes offer are plentiful.
2 🙂 – Budget – Take into consideration your spending plan, availability of funds, estimated expenses before searching for your dream house location. You need to be familiar with your price range. Play with home affordability calculator to figure your amount of investments.
3 🙂 – Credit Check – Good credit score accompanied with fulfillment of other criteria as judged by Bank, buyer can be entitled upto 80% of financing of total value of property. So prepare your credit report.
4 🙂 – Explore First Home Buyers Programs – For instance, Government declared more subsidy for new buyers which falls into the category of higher income brackets during 2017-18 Union Budget. At the present state subsidy of home loan is granted who are earning upto 6 lakh per annum.
5 🙂 – Hold Little Money After Move-In – For furnishings, interior decor, new appliances, new paint and any other touches you desire to have when you are in your dream home as your home reflects your personality indicating social status and accomplishments.
6 🙂 – Scrutinize What Type of Property You Desire To Invest In – Analyze the real estate markets with their plethora of choices they tender to help you zero in on the dream house within your budget. Buyer’s look for ready to move-in property, two bedroom flats, three bedroom house, luxury villas, independent floors etc depending on the size of their family and one’s need.
7 🙂 – Get A Pre-approval Letter – This simply provides you with estimation of how much lender will lend based on your income and debts. Pre-approval letter makes you look more serious to a seller.
8 🙂 – Professionals – Working with trustworthy real estate brokers, lenders, attorneys is important for an easy and effective experience. Direct all talk through your real estate representative. Therefore, higher the right agent, highly skilled, knowledgeable about the area and can guide you well in advance. Realty broker offices are available on every site and also provide online property information. Investigate developer credibility whether or not affiliated to governing body like CREDAI. Enquire about their past and future projects.
9 🙂 – Pick The Desired Neighborhood –Searching the right location is the key factor for home buyers. Buyers need to explore the schools, local safety, near by hospital, pharmacy, grocery store and other basic amenities must be available for the use in addition to near by drive ways, traffic routes, noise and pollution free green surroundings.
10 🙂 – Study The Desired Property – When the house is open pay heed to home’s thorough situation, how things are stack up or items impaired, glance for any stains or smell. Inquire about home history when it was constructed and about key systems functioning like AC’s and the heating’s. Visit thrice the location to get closer view and fulfill your query regarding it.
11 🙂 – Purchase Home For Future –Give a thought to your future needs and wants and either this will be for your family. However, it is not easy to find house perfect in every way so judge wisely.
12 🙂 – Bid Competitively – Once you reach your destined home you love it’s alluring to make a high priced offer that’s likely to win. However, stick to your purchase budget, avoiding emotions to conquer to avoid later repayment dilemmas.
13 🙂 – Home Insurance – Insurance is required to incur damages and losses occurred to an individual’s house. Home owner insurance fix up liability coverage against accidents in home and to the property. Before ending your agreement lender may want you to buy property insurance. Shop around to find the incomparable price.
So to conclude, home purchased with common sense, paid for in full and managed with reasonable care it is about the safest investment in the world.