A True Figure of Overview
The investing game in the modern-day era is adapting rapidly. From investing in gold to investing in ETFs the financial instruments are becoming more secure and user-friendly.
Personal finance is growing as people are getting more and more aware of the profits they earn. The younger generation tends more toward investing in modern instrumental systems like crypto while the adults are still investing in commodities and real estate.
Buying a house comes with its emotional touch added to it as some believe buying a house is just like opening doors of happiness. If you are a budding investor then you should also look at first-time homebuyer tips for basic research purpose.
The real estate market is so vast that it has no boundary limits. One can invest his/her money in the foreign real estate market just like forex investments with proper knowledge and research.
Like other sectors, real estate also faced many crises during pandemics but the sector is booming again with glory. It is fascinating to know that India’s real estate market has grown at around a 13% rate and is heavy contributing to the country’s GDP. The robust growth is just slightly lesser than USA's real estate market. Let’s dive into this vast ocean of investment and know about its dept. In this blog, we will discuss first-time homebuyer tips one should know before buying a house.
Whether it is about buying a plot or buying a fully furnished house, location plays a vital role. One should find a location which has a great transport system along with other social amenities like schools, hospitals, parks, etc.
The home buying guide also includes that the location should be near to the workplace as the distance and travelling can be shortened. The cities like Mumbai, Delhi, Chennai, and Pune are some of the major locations which are perfectly designed by the developers and have greater popularity.
The right time to buy:
As investing in real estate always gives fruitful results one should never be concerned about the time factor. The factors like home loans can be time depending but if you are a first home buyer then the government has led many schemes under its Income Tax Act, 1961.
Along with government schemes, private institutions also provide the desired amount of home loans for the first home buyers. One can pay a specific amount of down payment and can later pay interest accordingly. Choose the right institution which can get you a loan at minimum taxes and minimum processing fees.
If you are planning to buy your home like transportation, social amenities and a spacious place should be taken into consideration. One should also think of configuration whether it is 1 BHK, 2 BHK or 3BHK according to the budget of the buyer.
In small cities, the price rates are comparatively low therefore most adapted configuration is 3 BHK. In the case of the city, the prices are touching sky height, therefore, people get satisfied in 1BHK flat too.
One can find a good trusted broker with minimum brokerage charges or one can try prop-tech websites which can provide every single detail with just one click.
Proptech websites are leading the marketing via social media and provide promising features which help buyers as well as sellers to connect. One can also find rented houses on these sites. The consulting websites also provide home buying tips for individual locations.
Also, be aware of misleading ads on social media as they are not safe are can provide wrong information. Trusted and well-known prop-tech websites should be chosen to avoid thefts.
The above listed are some of the major home-buying tips one should think of before buying. Right choices like real estate investment shouldn’t be taken in a hurry as it can also lead to a major loss. Do the correct research before buying a property with the proper budget planning for a safer and wiser investment plan.