5 Home Buying Tips for Young Couples
Till a few years back, the elderly were cashing out FDs and provident funds to build a dream home. But gone are the days when typical homebuyers were aged 50 and above. The unwritten rule of purchasing a home only after you are ‘settled’ has also faded. The age group of 34-38 is closing a major portion of sales deeds in India today.
Given the preference for nuclear families, a sense of security and utmost privacy, and high-income capacity; youngsters prefer their own space today and are scouring the market for new homes. However, the home buying journey has its own set of hoops and hurdles. Below are a few first-time tips that will help young couples navigate the process smoothly.
Price vs. Budget
Analyse your financial situation to set a realistic budget. For example, if you are a single earner, consider compromising on luxurious features which could be pricey. These upgrades can be done at a later stage with proper planning. In case both of you are earning, you can set the bar a little higher to fit in a bigger house with good features. However, try not to overreach and make room for essential modifications and shifting charges.
Home Search Websites can Help
Get in touch with a reputed home buying website to ease the process. The best one will offer the expertise of local property dealers. They can share useful insights about the areas they specialize in. You can explore more than 300 apartments in Mumbai or another metropolis under multiple categories. These include under-construction, ready-to-move, and pre-launch properties. They can also provide end-to-end support in every step of the home buying journey like site visits and negotiations. You will also be able to receive subsidies via government schemes.
Consider a Loan
Once you have figured a budget and explored the houses, think of a home loan to purchase a property in Bangalore hassle-free. Look for affordable housing products which are meant for both salaried and non-salaried individuals. Make sure they have easy eligibility and basic documentation requirements along with quick loan disbursal within 72 hours. The best bank will have experts to guide you and review your application on-spot for a hassle-free process.
Home Inspection
Before finalizing a home, try to tick off a few important factors. For example, keep an eye for natural light, electrical wiring, drainage, flooring, and wall finishes. Further, check for cracks, water seepage, wood-destroying pests, and odours. These are absolute breakers so try not to adjust or compromise on these areas while looking for flats in Pune.
Resale Value
In the event where you might have to sell off your house, you would want to get the best possible deal. Therefore, before purchasing an apartment in Mumbai, consider checking the resale value. For example, a good curb appeal, plenty of storage space, remodel potential, connectivity to amenities, a peaceful and safe neighbourhood, and basic upgrades could be some of the things to look out for.
If you are planning to move soon, collaborate with local experts. They can hand-hold you through each step and keep you from making common house-buying mistakes.
