Ready to buy a home? Buying a home is one of the most significant decisions to make in your entire lifetime. Purchasing a “dream home” is one of the life accomplishments which is in everyone’s bucket list. Most of us hope to find a home which gives a feeling that it was made for them. Since you will be aiming to stay in the property, you will want to look for the property where you and your family will live happily for long term.
So don’t be afraid of being picky and hold on until you find that perfect place. Now the question is how to decide that this is your perfect placeyou were looking for?
Well there is no definite answer to it, but below few important points can help you in making a decision to a certain extent.
FACTORS FOR BUYING YOUR DREAM HOME
- FEATURES YOU ALWAYS WANTED: Normally when you go for looking a property we look whether it had enough bedrooms for the whole family to fit in comfortably, and whether the locality is good to live in; but these all are needs not the features. Dream home should be fulfilling all your wishes and not just a need. Everyone’s dream is different. Where few dream to wake up with a sunrise view from the balcony while few which to have a lake side view from the bedroom. While you wish to have fitness centre in the nearby area your partner might require a secluded quiet home. So make each family member make a list of wishes they have and then rank all in terms of priority. Although you might not get a property which will have all the features in your wish list but this will help you in focussing on the property that work for all of you.
- LOCALITY: Your apartment is a part of larger community that you will exist on a daily basis. So you need to make sure your neighbourhood and locality suits you. Make sure all your requirements are in the nearby area of your locality. Shopping malls, Healthcare centre, Educational institutes, hangout places are within a range of 6 to 8km from your place. Whatever your heart desires do not hesitate to research before exploring your dream home. Visit nearby restaurants and parks and analyse if this is the kind of environment you want for you and your family.
- LOCATION AND SIZE: Location is one of the important factor to look into while buying a home. It is one thing about the property which cannot be altered. When looking at specific properties, consider a lot about location and size of the property. If you are looking to purchase independent home or villa then does it have enough lawn area for your kids to play in or for you to relax in evening? If looking for apartment then does it have a good parking area, power backup, gym, security, party hall, Senior Citizen Avenue? Is the place situated in the prime location of the city with a smooth and easy connectivity to other areas such as airport or railway station? If anything about the site seems like a compromise to you don’t hesitate to walk away. It will be easier to find a similar property in a better location than to settle for a compromising location day in and day out.
- USE YOUR HEAD, NOT YOUR HEART: Don’t be afraid to walk away if not happy with the deal. There are lot of options and a better one’s also which is exactly what you desire of. You should always remember that this is a financial transaction and your terms must be met.
- LIST OF BANKS FINANCING THE PROJECT: There are many builders who do not get bank loans at all. So once you finalise the property and confirm all approvals, find out bank which are ready to fund the project and go with the one offering you lowest loan rate.
- VERIFY THE BUILDER: It is always recommended that you should do a verification of the builder before making any investment. Verify its past and current projects; ask questions related to the builder on online forums to get a review of the builder.
- POTENTIAL FOR CUSTOMIZATION: It’s a true fact that not all the points in your wish list will be checked even after the decision of buying a particular property is taken. A little scope of customization will be there even in your dream home. Might be kitchen or the backyard or the media room is not as you wanted exactly. So its unlikely that everything will match your specification since the time you sign the deed. Hence, keep an eye on how much customization will be required, will you be able to handle that amount of work, Will you be able to invest to that extent post investing in the property. Remember not everything needs to be taken care of immediately, but you must have a rough idea as to how much work it will take to transform the property into your dream home.
- LONG TERM VALUE: Despite of your negotiation skills, you might end up paying market value for the home that you buy. You need to think about ways you can add some values. If market condition change and you need to sell, you want to be sure that you get a good return on investment.
Everyone deserves to own their dream home. With the right research it’s possible. Consider the above mentioned factors as you and your family begin the home buying process as these will help you focus on the quality a property should have to perfectly fit in.
So what are you waiting for? Make your dream into reality. Tell us about your dream home. If you already found the perfect place do tell us what all factors you considered.
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