Whether its a cozy apartment for two or a sprawling house for a large family; whether it is a residential Mira road property or an apartment in Lakewood, your home is where your heart is. Everyone wants to eventually purchase a home for themselves to live happy days and a successful life. You imagine how it would look, where you would live, how you would do up the place and much, much more.
Buying a home though yes is definitely an emotional decision, it is an extremely intellectual one as well. Being practical is extremely important as is being totally aware of what you are getting yourself in to. Many people especially first time home buyers rush into purchasing a house just because they fell in love with it and then are faced with a myriad of problems that could have been well avoided.
Let us take a look at what things you should be aware of when you are considering purchasing your future home –
- Can you truly afford it – We all consider the price tag on a home when looking at potential properties and sometimes even raise our budgets a little if we totally fall in love with a place. However, even if you can afford the house at this moment in time, we all know situations can change and life is pretty unpredictable. Make sure you can not only afford the down payment and mortgage payments, but also have additional savings in case of an emergency like loss of job or a huge unexpected expense. Sorting out your finances before making any decision and signing on that dotted line is extremely crucial.
- Take note of the inherent characteristics of the property – It is easy to get swayed by a beautiful looking home with all the aesthetic details you love or on the flip side get out off by a residential property that looks nothing like what you would want. However, it is definitely a time to let go of surface prejudices and look at the basic foundations the house provides. Is it structurally sound? Are the major systems like the electric and water systems in tip top condition? Is the roof in good condition? What about the plumbing? Check out these major areas of concern first and superficial changes in look and design can always come later. Also make sure you get a clear idea of the layout and whether it works for you and whether the house has enough ventilation and natural light as per your preferences
- Location counts for a lot – It is probably the case where you have a few localities in mind where you want to purchase a home and live in for the foreseeable future. While a lot of that is based on and should be on what localities we love and want to settle in, also keep in mind that your house is also an investment. If you plan to sell at some point down the line make sure you check how the neighbourhood does on the popularity scale, prices commanded on average and the like. Also make sure you check for safety and security records. Conveniences like whether it is a good school district, proximity to major roadways, amenities and recreational facilities in the vicinity etc. are all excellent points to be noted.
Buying home perfect for you involves tons of decisions. Take your time and weigh your options carefully before making such a big commitment. And always read the fine print!