Skip to main content

Things to Consider While Buying a Home

11415768965_236244c761_o

Happiness is… Buying Your Dream Home!

Buying a home is the dream of every aspiring individual who wishes to prosper in life, and property is one of the biggest investments that are made by an individual in his/her lifetime. That said, there are a number of important points to consider before you decide to make an investment. This post throws light on some of the important aspects of buying property in India, and familiarizes you with a bunch of prerequisites and things to bear in mind before finalizing on the investment you choose to make.

4439276478_109791356b_o

Image Source: Alan Cleaver

Budget:

This is perhaps the most important factor in your home buying process. Ascertain your budget before you decide to invest in property, and work out your finances in a planned manner. Channeling a significant amount of your savings into buying a home or borrowing a similar sum from the bank will impact your finances, and you need to make this long term investment in a well-planned manner so as to avoid any unforeseen financial crisis. You must first be sure about what is the ideal amount that is feasible to invest.

Purpose of Buying:

Before you begin shortlisting properties based on your budget, it is important to ask yourself why you are planning to make such a big investment. Do you need the home for residential purposes, or are you planning to use it as a secondary residence, or is it purely based on wealth maximization? Based on your intent, you can further narrow your search down to the type of property you would want to invest in.

Type of Property:

Given the myriad of residential options that are present in the real estate market today, it becomes very perplexing for a first-time homebuyer to figure out the ideal property type for him/her. From Studio apartments to 1, 2 3 and 4 BHK apartments, villas, bungalows and townhouses, the list just goes on. In order to make the most out of your home, it is important to understand your residential needs and pick the one that offers maximum convenience and utility.

Location:

Location is a key parameter in realizing short term as well as long term benefits from the home you wish to purchase. For home buyers looking to buy a property where they would want to move in, location plays an important role as the site needs to be well connected to all important places in the city they plan to reside in. It is preferable to have schools, colleges, workplaces, healthcare centers, public transport systems and other such facilities in close proximity to the property you want to invest in. Similarly, from an investor’s perspective, it is crucial that the property is excellently located and offers good value appreciation over a period of time.

Book your dream home with Happykeys, and experience the joy of buying a home.