10 Common Mistakes To Avoid As A First Time Home Buyer
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- 2nd Jun 2021
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There are many more aspects that one should look at before taking a decision with regards to home purchase. It would always be ideal to take the help of a real estate professional like a real estate agent or property lawyer while buying a home.
The following are 10 Common Mistakes To Avoid As A First Time Home Buyer.
Taking A Hurried Decision
Yes, it is awesome but you need to control your excitement of buying your first home and think rationally.
Neglecting Location Over The Glamour
Property is all about location. Do not let the glitz and lamour of a show flat or sales experience centre overwhelm you. Pay attention to the location.
Not Checking The Developer's Track record
Check the developer's credentials thoroughly before saying yes or making any payments to avoid regretting later.
Not Planning Your Home Buying Budget
Make sure that before you step out or start your house hunting online, you have your home purchase budget very clear in front of you.
Not Keeping Home Loan Pre-Approved
It is always wise to confirm your home loan eligibility and keep an approval letter from the bank ready. This gives you confidence as well as it acts as a strong negotiating tool while closing your deal
Not Planning For Your Home Loan EMI
Make sure that you have your monthly expenses, other EMIs, contingency fund all in front of you before you confirm your home loan amount.
Not Checking The RERA Details
Reading the fine print of the project on the RERA website will help you understand the technical nuances better and you can take a very informed decision.
Not Checking The Additional Costs
You should understand additional costs before buying to avoid surprises later.
Not Checking The RERA Details
Check details of the project on RERA website to take an informed decision.
Not Reading Documents Carefully
Take your time & read the agreement draft carefully before signing.
Not Checking The
Monthly Maintenance Check the monthly maintenance of your new home before buying.
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