Most people save up for a lifetime to buy their dream home. They may search in different cities, localities, areas and then finally choose a property that seems perfect for them. They pay the money and move in to their perfect home. But after a few months, they realize that they have made a dreadful mistake. The house is too small, it leaks, or they paid too much. For some reason, they are not happy with their home and there is nothing much they can do about it. They are stuck in a house they do not like and want desperately to sell. Because they’ve taken on a mortgage, it can be difficult to sell and move and there is no other option open to them.
Are you afraid of ending up in a similar situation? Well, you can avoid this problem by simply doing a little research, according to Rediff. Yes, you are a first-time homeowner and you did not know what to look for in a new home, but that should not be your excuse. If you want your dream home, here are a few smart strategies you can use to ensure the right choice on the first attempt.
Location, Location, Location
No matter which country you are located in, nothing is as important as the location of your dream home, says Justlanded. You might have already shortlisted a city to stay in but you may not be familiar with all the neighborhoods. In the beginning, it would be a good idea to drive around the city and look at different suburban areas. Most Indian cities are now planned communities and every suburb will have its own schools, religious centers, and recreational areas. However, research is still necessary to find low crime, affordable areas for investment. Apart from community, the home should also be located close to necessary amenities. A good home should be located near to highways for easy commutes, near to markets, theaters and restaurants for recreation, schools for children, religious centers for worship, and other important institutions. You cannot have everything but if you can get at least a few of these above-mentioned amenities, then you can think about investing in the house.
Hire a Broker
Always, always hire a local broker. Brokers and agents are intimately familiar with their cities and neighborhoods and they can provide valuable feedback about communities, schools, and other local amenities. However, it’s a good idea to ask for personal recommendations from friends and family to find a reliable broker. Now, there are also several great online websites displaying property in different cities and price ranges. You can filter the amenities you’re looking for and quickly sort through properties from the comfort of your home.
Establish a Price Range
Most homeowners usually have a budget in mind while browsing for homes. They might already have pre-approved loans to buy their dream home and they have a set amount they have to pay every month to clear the loans. If you have not done this, then it’s time to do it right away, says Yahoo. Remember, it is easy to be carried away while browsing. Stick to your budget at all costs and make sure you negotiate with the seller to get the best rates possible. Most sellers have their own price in mind and they are willing to negotiate or bargain to sell their homes.
Check the Builder’s Reputation
India has an unsupervised real estate market but there are several builders and developers well known all over India. For example, you can always buy your dream home by Unitech Group. The company is well established and has multiple properties being developed all over India. Several different residential properties are available in almost every price range and you are assured of an affordable house, delivered on time. You might be looking at another builder for your dream property. But no matter which builder you choose, make sure you check the reputation of the builder before you pay anything upfront.
Be Patient
Remember, the real estate market is improving slowly and the political market is also stabilizing under the influence of a new political party. As the economy improves, builders will start launching projects in first tier, second tier and third tier cities for first time homebuyers. With a little patience and research, you can find beautiful properties in every price range in any locality. Take the time to browse almost every website, local realtor, broker, and agency to find property to view and buy.
Now that you know what to do, you can find your dream home anywhere, says TheNoelTeam. Make sure you choose a reliable builder and always, always, check the legal and financial fluidity of the builder before you proceed. As long as you’ve done your legwork, you should have no problems.
Love this! We are trying very hard not to “look” at any homes past our budget. Even though we are only in the very beginning stages, it can be hard!
I couldn’t agree more Sean. I actually did my own research on the location of the house. This is the part where I spent more to assure that the location was really right for my family. I was just lucky that my wife knew a lot of brokers. Consequently, it was really easy and smooth.