If you want to buy a home, you will feel stressed out and anxious. Well, the entire real estate market seems to be in trouble and so you have to be more careful. To get the maximum value for your money, you need to know 15 important tips to buying a new home. Before that, get in touch with a reliable builder so that you need not file a Cheating case against Builder in the later stage.
Weigh your pros and cons before buying a home
Buying a home is not the matter of few cents or dollars, but it will cost you thousands and thousands of dollars. You need to first decide whether you want to rent the home or buy a home. Weigh your pros and cons before you set to find a builder to build your home.
Getting pre-approved for the home loan
When it comes to getting a pre-approval for the loan, it is far more different from getting pre-qualified for the loan. If you are pre-approved for the loan, it implies that the lender has perused through your finances and knows how much to lend. Thus, getting a pre-approval will save you time since you can decide on the budget accordingly and make your searches. You can thus shop around for an attractive deal and avail a best interest rate.
Get your property surveyed to avoid the border dispute
It is absolutely essential for anyone to get his/her property surveyed prior to buying. This way, one can come to know the exact measurement of the property. Once you know what you are buying, there will be no border dispute and in fact the property tax is also reliant on it.
Avoid anticipating the market
There is no need to time your home purchases and anticipate the market. It is impossible to time the property or housing market. The real estate market is extremely unpredictable and if you time your purchases, you may miss out on a perfect time.
Bigger home is not better
You may get attracted to bigger homes, but big is not always better. Larger houses appeal to only few audiences and so when you go off to re-sell the home, you may not have too many buyers. Smaller houses trade well nowadays.
Do not ignore the sleeper cost
Sleeper cost is the difference between owning a home and renting a home. There are many people who simply focus on the mortgage cost and ignore other expenses like homeowner association expenses, utility bills and property taxes. You need to budget your home after considering the sleeper cost and additional expenses.
Say ‘No’ to impulsive and emotional shopping
Buying a home is a major investment and so there is no room for emotions. To get a great house, go with your instincts and not by emotions.
Get your home inspected
Before you make purchases and complete the payment, get a home inspection. A home inspector can find the underlying issues in the home. If there are issues, you can bargain over the price with the owner.
Go for bidding
The seller will offer his price, but it is important for a buyer to present his price as well. Your bid price must be based on the amount you can afford and the property’s worth according to you. Sellers will respect your price offer.
Get to know about the neighbourhood
Drive by the houses located nearby and get to know your neighbourhood. Enquire about the place to know about the people.
Look for residence which is priced lower
Try and look for a home which is priced 15-20% lower than its market value.
Buy the home you can afford
Buy a home which is appropriate for you. Check out the rates and the payment you have to make.
Stay organized in your finances
Organize your finances to determine your budget. It’s vital to understand that how much you can spend, so, that you check the houses that ideally fit in your budget.
Get in touch with a reliable builder
A broker can be quite helpful in presenting the properties which meet your requirements, in terms of location, budget and space.
Go through the terms and conditions
Before signing the dotted lines, make sure you read the contract. There must be a provision stating that you can File cheating case against Builder or File complaint against Builder in Ahmedabad in case he cheats you.
By following the aforementioned tips you would be able to buy the home of your dreams.