Advertisemen
It is the biggest dream to make 'our house' in the list of all the things we can achieve with our earnings in our lives. When you start earning well and a fair savings gather in the bank then it is natural to get into the idea of getting a home. But buying a house is not as easy as buying anything else. Generally a house is bought at a middle-class family, so they do not have any experience of the hassles associated with it and often get hurt. For this reason, when buying your first and perhaps the only house, it is important to take care of certain things, or else you may have to repent later.
Here are some important aspects to keep in mind when buying your first home.
Purchase only when necessary
Before taking home, take a good look at why you have to take home, how big it is to take, and most importantly - whether it is actually necessary to take it or not. If your business or job is such that due to which you do not decide to stay at a place for a few months or years or two, you should probably think about buying a house again. If you want to increase or decrease the price of the house, buy and sell the house and the papers and legal action is going to cost you a lot.
Even if you are buying a home loan, you must keep the price of your home within your budget. To take a loan
The maximum limit is fixed by the bank. You should also keep your feet in mind while keeping your other expenses and responsibilities in mind. To calculate roughly, you can assume that in any case, the budget of your home will not be three times your current annual income, otherwise you may feel the shortage of money later.
Keep your bank's accounts well
If you are going to take home with a loan from a bank, keep your accounts up to date and at least six months ago. Keep clean files of your last loan etc. so that there will be no interruption from the bank in taking loan for new home.
Check home location
In the part of the city you want to take your dream home, inquire about the facilities around the place, such as Location for your home, medical, school, shopping, parks, roads, water and electricity. Depending on your priorities, you choose the place. The house bought by paying a little higher price today, due to these very features, will be multiplied in time to come.
Get help from a trustworthy broker
Work like finding a house, checking paper papers, decrying a deal, doing legal writing, broker office rotation, etc., firstly harms any person who buys a house. It would be better to take care of any reputable and trustworthy estate agent or broker to help you in all these things. Yes, do not forget to add her fees to your home budget.
Choose a clean record home
This is your first home or second or third, most importantly checking home paper. For this, your broker must ensure with the registrar office, but you should also inquire into the background of this house. By doing so, you will end up with the possibility of later problems, there will be no problem in taking loan from the bank. For this you can also get help from the bank as the bank also keeps a check on their behalf so that they can not afford any loan on any disputed property.
Assess the house accurately
For this, your broker will work in your own interest, you also do not hesitate to inquire in the neighborhood. Keeping in mind the facilities and development possibilities of that place, find out the trend of buying it there. Meet the buyers and sellers of deals in the same area in the last 4-6 months. If you save 10 percent of the cost of your home with all this hard work, then you must definitely do it.
Also check the house technical
If you are going to buy a house of 15-20 years old then you should get a professional engineer to check the condition of this house. Whereas the walls of the house have not been weakened, there is no electricity or leakage of short-circuit or short circuit, etc. If we have to repair the roof etc. Join the fees and expenses of the repairs in the house budget itself.
Generally people take loans from the bank, home loan assumes that everything here is already fixed and the bank stays on its terms, but it is not so. The bank can also give concession about your ability to take loans in many banks, you can also concession in the interest rate stated, you can also give a concession in terms of loan repayment or before the period of repayment of loan. Make a good deal with you, talk to not only one but 2-4 other banks, you can get the deal you want.
Bank options for loans
The rules of government / nationalized and private banks, their complexities and methodology are all different. If something is convenient in a bank then something else will be complicated. If there is some other complication in the second bank then there is some other problem in the third. For this option, you can also inquire financial assistance from your company, because in many companies there is a provision for such loans for their employees. Or you can also take a loan from someone who has a personal loan or co-operative in the market, but in such a situation, read the loan papers well and understand every condition written in it, then only proceed.
For Contact Us:
Advertisemen