Are you one of those first-time homebuyers?
Then you must read the below mistakes so that you don’t commit one.
In a scenario where there are endless home buying options, buying one that feels like a home is perhaps difficult. Moreover, if you are a first-time buyer looking for houses in Bangalore, then you are more likely to commit mistakes. The major cause for such mistakes is a lack of awareness about the prevalent property schemes, or in other cases, negligence.
The best real estate websites in India make sure that no buyer, be it newbie or oldie, makes mistakes and falls into stressful situations. Instead, they ensure that the buying process is educative, pleasant, and swift so that buyers make well-informed decisions. Hence keeping all kinds of buyers in mind, we have made a list of the most common mistakes, buyers must refrain from.
7 Mistakes To Avoid While Buying A Home
Escaping From Penning Down Preferences
Many a time, Homebuyers reject good properties when they notice a mismatch between their budget and desired amenities. This calls for writing down your list of preferences before you begin your home searching. Those preferences must include details in regard to the size, location, layout, budget, and amenities you desire and can afford. This way, you can avoid feeling hopeless or vulnerable in the middle of your search and can focus on what really matters.
Reaching Out To Single Home Finance Facility
In most first-time cases, a majority of home buyers consider a single loan facility, i.e. banking institutions. They forget that the Indian home loan market consists of numerous private lenders, nonbanking financial companies, independent institutions, and public home loan providers. These other sources offer attractive and affordable interest rates to the buyers. Hence here it is suggested that you must approach at least a minimum of three home-loan providers in the market. In this way, you will have three different options to compare and choose the best fit.
Avoiding Extra Costs & Expenses
Let’s say while looking for houses in Bangalore you think that the asked price is all that you have to arrange and pay. Then this will speak to your lack of complete knowledge. Please remember, that besides the asking price, there are additional costs too that are often avoided by buyers. These costs include stamp duty & registration, cost of parking slots, brokerage to agent, and taxes, and more. These costs increase the overall house price, hence alerting buyers to be mentally and financially prepared.
Overlooking Family Needs
A common mistake that most first-time buyers commit is buying a home without considering its long-term objective. To avoid this mistake, it is suggested to plan your home buying with a 5-10 year perspective. Such planning will cater to the needs of your potentially growing family and help you make the right choice.
Ignoring Under-Construction Homes
Buyers often commit the mistake of browsing solely ready-to-shift properties. Apparently, in this way, they end up limiting relevant options. Here, buyers are expected to avoid overlooking the benefits of under-construction properties. This is due to the reason that a number of developers offer these properties with attractive discounts attached. Hence, this will ultimately allow you to pay a small fee and secure the home at a good rate.
Not Exploring The Locality
In the urgency to buy homes, people often tend to ignore exploring the locality and neighborhood which leads to dissonance later. It is advisable to not commit such a mistake. This is because these factors play a significant role in deciding your future friendships, community, and your family’s safety and security.
Avoiding Consultancy With Real Estate Agents
Consulting real estate agents is no harm. You are going to thank us later for this advice. Involving an agent while buying a house will let you make a great decision. This is due to the reason that property agents have an accurate pulse of the market and the prevailing rates. By making use of the knowledge and experience, they can make negotiations and get you the best offers for homes.
Now that you know about the most prevalent mistakes buyers tend to make, making the right decision will be easy. Pen down your preferences, reach out to a minimum of 3 home loan providers, and calculate every additional cost. Consider your growing family needs, look for under-construction properties, explore the locality and consult with a real estate agent before buying a home. Only expert property websites in India can educate you about these mistakes and the measures to avoid them. Hence, to be able to make the best decision for you and your family, it is a good option to get in touch with them.