Owning a house of its own is the dream of almost all middle-class families in India but buying a house in India is not as simple as it sounds. It’s a long process right from the budget to the location and many more such things. Here we have tried to list out important things to keep in mind before buying a house.
Hire a Real Estate Agent
It’s very important to take the services of a genuine and well-known real estate agent before buying a house
It’s never a good idea to search for a house yourself without taking the services of a real estate agent. Taking professional help is very important to buy a house within your budget. It’s fine if they take a good amount of commission from you but it’s much better paying them for their services than getting duped.
Choosing the Best Possible Loan
The next thing to take care of is selecting the bank from which you are going to take a loan to buy the house.
Experts suggest that it will be quite helpful to make a list of various loans that are provided by different banks. Every bank has its home loan terms and only after going through them, select the best that is ideal for your needs and most importantly your budget. Always remember to choose a bank whose loan terms are conducive and flexible. You need to do good research about the loan terms and banks in case you want to find the best possible loan.
Fix your Budget
The most important thing while planning to buy a house is to decide the budget you have for it.
Along with other things, fixing the budget you are willing to spend to buy a house is the most important part. Also, don’t hide your real budget from the real-estate agent as then only they can get a good deal for you. Keeping a budget is helpful but you shall not be stiff about it and be flexible to at least 5%. If you don’t keep your budget flexible to an extent you can afford, there is a high chance of you missing a really good property.
Don’t Expect a Picture Perfect ‘Dream House’
Understandably, everyone has an idea about the kind of house they want but imagination and reality are two very different things and reality may disappoint you.
You should be aware of the fact that there are no ‘dream homes’. If you believe that you’ll find the ideal home for the perfect price in a great location, it’s quite sure that you will get very disappointed. Never blend your lists of ‘necessities’ and ‘want’. Be flexible about what you want and give focus on the necessities. Keep the basics correct and it’s for sure that you will get a good deal in the end.
