Things to keep in mind for first time home buyers

Buying your first home is the ultimate dream for many, and rightly so. You imagine the decorations, and how you will organize all the stuff in the new home.

Amidst the celebration, there are certain things you need to keep in my mind.

As is the case with buying assets, paperwork, and other responsibilities should be taken care of. This helps in eliminating all the hassles, and making the process swift, and easy.

Here are 5 things you should be careful of:

- House requirement

For a new home buyer , there are myriads of opportunities in housing.

You can choose what you want. It’s therefore important to decide on the type of housing you need. Whether it's a mid-size apartment, independent house, or a mansion type home. This will lower down the costs, and save you money.

Also, ponder if you would like to have a house tailored to your requirements or not.

- Location

Location is of considerable importance for every first time home buyer . You should check whether the property is in close proximity with school, office, hospitals, malls, etc.

Figure out the transportation medium to the required places. It should not cause any inconvenience to you and your family.

Try to buy a home that is close to your place of work, say within 30 mins of distance.

- Budgeting

This is the main hurdle for anyone looking for ways to invest in property .

Before finding your ideal property, figure out your budget. It will help you to align your home needs with your budget.

Also, have additional budget in place. When you buy a new home, its maintenance, and upkeep costs gets added. Start with paying off your debt, and build an emergency fund. This will lessen the burden, keeping you afloat.

- Loan

You will need funds to streamline the purchase of your home. Of course, you would have saved money to buy your new home, but a loan fund will materialize your buying process.

Make sure you get it through a known housing finance company. It should offer you long term loans.

While the funds help you to buy your home hassle-free, it also provides tax benefits.

At Sambhav, we provide you a 100% loan.So, you don’t have to worry about this.