The current pandemic and the subsequent lockdown have made all of us realize once again how important it is to have homes of our own. There were several unfortunate news items in between, describing how many homeowners wanted their tenants to vacate their apartments amidst the dire situation. All of us, staying in our own homes. must have felt blessed imagining the harrowing experiences those people have had to go through. Having homes of our own has become a kind of a mandatory requirement again. Home is the safest refuge you can imagine ever after all!
Buying a home is not an easy task though. If you are a first-time buyer, your confusion is even more. There are so many steps, considerations, tasks to be completed before you can actually embark on the journey.
The first thing you need to understand is how to fix your budget. First-timers are usually youngsters with limited savings. It is imperative to check your net worth and loan eligibility while fixing your budget. It is better to stick to your current requirements, keeping maybe the next few years in mind. For example, if you are a young couple on the verge of starting a family, you may go for a two- or three-bedroom apartment instead of a five-bedroom one. You need to also consider additional expenses like stamp duty, registration cost, taxes, etc. that need to be added to the quoted price of a property. Do not forget to add the expenses you would incur while furnishing the house after buying. All these factors should be taken into account while fixing your budget.
Once the budget is decided, you can start looking for the property. Location is of the utmost importance any day. Check whether the property you like is close to important amenities like schools, malls, hospitals, etc. Figure out the transportation expenses you would incur while commuting to and from work. There is nothing like being close to the workplace though. If not possible, you need to check out the conveyance options the locality has. Not only the location would play a very important role in your daily life, but it would also determine the resale value of your property later.
It is always better to buy a property in a gated community, where life is safe and secure. These complexes also have facilities that make things easier for residents. Most of the projects these days have amenities like swimming pools, gymnasiums, etc. that make life comfortable for all.
If you are planning to buy a home for yourself, today is the time. Don’t feel jittery. Yes, it is indeed an expensive investment. But, if done right, it is sure to yield dividends like no other.