Tips for a first time home buyer

Anita Kurup

Buying a new home for yourself? We share a few home buying tips that can grant you success in house hunting and help you avoid buyer’s remorse.

DO’s

  • Figure out your financial competencies
  • Commit to an in-depth financial planning
  • Research the neighbourhood – look for a location that meets your needs
  • Look up if the property has necessary approvals
  • Compare with other listings to avoid overpaying
  • Get a pre-approved home loan
  • Look up builder’s credentials through reports, other buyers and forums
  • Invest in a professional inspection – it will save you time and money later
  • Do thorough financial planning before investing in a property keeping in mind your future liabilities
  • Think of your long-term needs when buying your home

DON’Ts

  • Invest unless the property has all documents
  • Invest unless property construction has all approvals
  • Your monthly repayments should not exceed 40% of your monthly income
  • Overlook space. The home should accommodate all your requirements
  • Overlook a home inspection
  • Forget your RoI – the biggest house may not give you the expected RoI
  • Miss out on research.

Leave a Reply

Your email address will not be published. Required fields are marked *