G&K Realty Pvt Ltd, Pune PCMC Chikhali info@gnkrealty.com

Mistakes You Need To Avoid While Buying A New Home

Believe or not, there is no place like house. We always listening & reading the expression, Home is where heart is. Beauty of this expression indicates that, home is something that both desirable. Over the centuries or across every culture, people have made houses for themselves & for the one they love the most.

Today, we have seen paradigm shift in the trend. People prefer to purchase homes rather than renting them out. With the growing population & urbanization, people across the country are heading towards well developed cities where they can relish utmost comfort & conveniences just a few steps away. With the influx of people, there is a rise in demand for homes too.

Un-doubtedly, buying dream home is one of the crucial thing for all of us. It takes years of planning, saving & a realization of facilities that dream home should offer. A first time home buyers mistakes could result in irreparable loss. Avoid this, we have come up with very informative research. In this blog, you will understand various home buying mistakes people do, do’s and don nots for new home buyers & if you are a first time home buyer then you will definitely get rid of fear to buying your new dream home.

Common Mistakes Home Buyers Should Avoid:
1) Lack of Proper Research and Preparation
One of the big mistakes first time home buyers make is to go on house hunt with no any proper research & preparation.

Firstly, understand the familys finances & needs, analyze your assets, debts & get a preapproved budget plan before plunging into the search for dream home. Despite this, take location preferences into consideration. It is important to take into account that you are not just purchasing a home; a neighborhood you are purchasing. Make sure to have quality schools, civic facilities, commute travelling time, local transport & future developments.

2) Paying More Than Decided
Do you know? It is human nature to want more than what we will afford. You have searched property, you & your loved ones get amazed by thoughtfully crafted homes that reflect a true craftsmanship, but rates more than your budget & loan eligibility. Because of human psychology, you extended your budget. In the initial months, you may feel a little financial stretch but slowly & steadily, you will find it is impact on many aspects like educational & medical expenses and many more. Please try to avoid this kind of home buying mistakes.

3) Stay Away From The Influential Market
One of the common a new home buying mistakes is to get attracted by the market more than their needs. There is a time when the market prices go up and go down but don not fall into the trap. Wait for right moment for the prices to fall down can hamper your family future. You are aware of your budget, have organized finances to buy home, then you should barely depend upon the short term market conditions & more should stick to all your needs.

4) Pouring Emotions Into It
We know the dream home is always special for all of us. Home that is well suited for all needs is the one with which anyone can get easily attached. It is one of the common mistakes made by home buyers & ends up paying more than their budget. Check all the required factors such as the track record of the builder in terms of delivery, reputation & possession after buying under-construction property. Before making any purchasing decision, consider all the details because agents are good at reading emotions.

To summarize, you understand how the negligence of most of the factors while buying home could cause big loss. Before you going to search for your dream home, do all the needful research & study, set your buying budget, & do not let your emotions run yourself. Try to avoid the big mistakes when buying a home, consider dos & donts mentioned in the blog and do the needful accordingly.

Leave a Reply

Your email address will not be published. Required fields are marked *