An in-depth guide for new homeowners
Buying a new home can be overwhelming since it is a high-ticket purchase and requires you to consider a lot of aspects. While you might be looking to buy a house for a specific purpose, you cannot ignore the other aspects. In this article, we will share an in-depth guide for new homeowners to help you plan your home purchase carefully.
1: Determine your budget
Houses are available at different price ranges. You can opt for a new house or a resale property based on your needs. Hence, before you start looking, it is important to ascertain how much you are willing to spend. If you are opting for a home loan, then look at the maximum EMI you would want to pay and the maximum home loan you can get. This will help create a filter while selecting houses.
2: Choose the location
Whether you are planning to buy a house to live there or to lease, location plays an important role. If you are planning to live there, then think about your lifestyle needs and how you expect them to change in the future. For example, if you are planning to have children, then you might want to buy a house in a locality that has good schools and parks. On the other hand, if you are buying a house close to your retirement, then you might prefer a calmer and less-populated neighborhood with good medical facilities around.
3: Price/Rental Rates
House prices can vary within the same locality depending on the quality of construction and maintenance of the house. Similarly, rental rates can vary too. While choosing a house, ensure that you consider these aspects as they can impact the returns on your investment.
4: Fees and taxes
When you buy a house, you need to pay stamp duty and registration charges to the government. These charges can vary based on the city, locality, age of the property, and various other factors. Make sure that you are aware of these charges before finalizing the property.
5: Consider amenities
Nowadays, most buildings come with amenities like a swimming pool, gymnasium, clubhouse, etc. These amenities increase the maintenance cost per apartment. While you might not mind paying for maintenance if you need them, make sure that you don’t end up paying for amenities that are not in sync with your needs. Hence, before deciding, look at the amenities and consider your lifestyle requirements.
6: Buy from a reputed builder
One of the most important aspects of a house is the quality of its construction. While most home buyers are not skilled to analyze the quality of a building, choosing to buy from a reputed builder like BramhaCorp is a good way to go about it. In Pune, BramhaCorp has earned a reputation for constructing high-quality buildings with modern amenities for comfortable living. Our properties, like THE COLLECTION by BramhaCorp and BRAMHACORP SMART at New Kalyani Nagar have been created for modern living. Our newly-launched BRAMHACORP TOWNHOUSE offers pre-leased residential homes for investment.
7: Assess the neighborhood
The neighborhood plays an important role in the quality of life offered by a house. When you step out for a stroll or to go to the market, a pleasant neighborhood can help you relax and feel happy. Also, properties in good neighborhoods tend to attract higher rents and better price appreciation over time.
Your house should be well-connected to the important points in the city like business districts, shopping areas, highways, railway stations, etc. Houses built in areas that have poor connectivity tend to have lower rents and price appreciation rates.
Remember, buying a house is one of the costliest purchases of our lives. While we might change our house over time, it is important to keep the above-mentioned points in mind to find the perfect house for your needs and get high rents and good price appreciation.