Congratulations to all the couples who just got married and also to those who are tying the knot in near future. Soon, you will be moving to your new house. Whoa! And with your loving aura, you can make that house, a home.
Here, we will be discussing how we can make the home buying process a bit less troublesome for you newly-weds. We have prepared a check-list of factors you need to take into account before choosing your dream home. For most of us, buying a home is a once in a lifetime affair. Thus, it is utmost important that you take the decision with due diligence.
Time period in which you are trying to move
Always set a target for your goals. The goal should be realistic. Depending on your income and present status, go for finalizing the time duration within which you can easily shift to your new house.
First of all, try to make a rough map of your home and the distances between your job locations. Going to a job is a daily affair. Make sure that you do not shift to a place that is at a great distance from either of your workplaces. Nobody wants to waste a good chunk of their time commuting. Also, make sure that in case your vehicle breaks down, you have alternative public/cab service options available. Not all days are sunny, and hence you have to cope up with rough weathers as well. Nearer the location, better it is!
Size of Your Home
It is of utmost importance that the couple is on the same page when it comes to deciding whether you want a 2 or 3 BHK, big balcony or a small one. Also, you have to take your guests into consideration. How often do you have guests to stay over and duration of their stay are the questions that need to be answered beforehand. Make sure that their stay be it for any duration, does not hamper your privacy.
Prioritize the Amenities
You and your spouse need to understand that emergencies are part of our life. Make sure that you have all the amenities, like hospitals, school (for future kids) nearby, easy mode of transportation, convenience stores, etc. Live the life to the fullest, and not just on roads getting stuck in traffic.
Research on the Upcoming Projects is a Plus
Start with personal connections like parents, friends and relatives to understand your options. Make great use of the internet. Always keep in mind that you are not just buying a home, you are also investing in it. If you choose the right location, chances are that the value of your apartment gets appreciated at a higher rate as compared to the normal market appreciations. This will make sure that you have a high resale value for your home, if the need ever comes. For instance, upcoming metro projects in your location can boost your property rate.
Organize the Finances
Make sure that the EMI option you opt for is not too cumbersome. Usually, a home loan is taken for 20-30 years period. So EMI should be such that you don’t have to compromise on your happiness for too long. Decide how much can you together contribute to the EMI. Alternatively, one partner can pay EMIs while the other looks after the monthly household expenses. Also, make sure to put something in the contingencies/emergencies funds at all times.
After the purchase, you’ll find that it needs some renovation and refurbishment of the interiors beforehand. Try to get it done before you move in. Also, make sure to get such a home, where you have to spend as little as possible on this.
Always Go for a Reputed Builder
As you are going to make a huge investment for your home, always go for the best property dealer/builder in your budget. This will let you live peacefully for the times to come. Going by the less credible property developer, you will find that though the property cost is low, the after-buying cost will be too high.
Your home is your biggest investment. Do you plan to have children in near future? How often do you switch your job? Is your job transferable? Will your parents live with you? These are some of the important questions for which you have to compromise later in life if you don’t plan accordingly. The best advice would be to plan and be prepared for these things.
So above written are some of the points you need to consider before buying a new home. And for the newlyweds, remember, if the beginning is amazing, then journey afterward will be rewarding. So make a checklist of these points, and see your worries related to home-buying disappear in a jiffy.