Buying a New Home: 8 Things to Keep in Mind

Each one of us have a busy schedule; our marathon race starts early Monday morning and continues till Saturday evening, and that too without any changes. We tend to believe that we work for ourselves, to make our family happy, or maybe to have a respectable position in the society.

But do you ever sit down and ponder over what is that particular thing that keeps you going the entire week? What is it that urges you to work even when you are sick? The answer is “security”, both for yourself and your family.

It is this particular liability that we have to our near and dear ones that urges us to save a certain amount of our income, to invest it on something worthy enough to be invested in!

Now, consider yourself to be that member of your family on whom the responsibility lies. You have a job and you want to have a secured life for your family.

The first thing that might come in your mind is to have a house of your own, a secured place to live in, a perfect place to enjoy yourself with your kids, brothers and sisters, and your aged parents.

Now you are mentally prepared for buying an apartment. Getting a new house is, no doubt, an exciting experience; nevertheless, it can be very expensive if you don’t have proper knowledge in that field.

So, if you are that person who is economical and wants to have the best in the least possible investment, then you are rightly here.

In this article you will gain proper insight on five elements that will make your task easier and will help you save money while buying a new house.

Make a plan: Try not to rush with your decision of buying a house. Try to save some amount of your income for the dream house. Make an estimate and be very clear with your budget. Do some research and try to find out the perfect place where you can have the best house that is within your estimated budget. With little patience you can find a perfect place to settle down.

Try to give some amount of money in cash/ down payment: While you buy a home a new house, try to give a good amount of money in cash to the person from whom you are buying the house. If you make cash payment then you will not have to take huge amount of loan from the bank. So, the interest that you will have to pay to the bank along with the principal amount will reduce automatically. Thus, your money will get saved.

Go for a short-term loan: It might sound weird to you, but try to go for a short-term loan from the bank. Definitely you may have to pay more every month, but the interest will be low too. Whereas, if you go for a long-term loan, you will have to pay interest every month. Hence, the total interest to be paid may be quite high.

Try to buy during offers or off-seasons: In every region the people have a tendency to buy a house during some particular period of time. It varies from region to region or from state to state. Try to figure out the time when people buy houses in your area. The price range, no doubt, will be high at that period of time. So, you will have to be wise enough to buy your house in some other time of the year because the price range will be (generally) low at that time. Again, you can wait for the best offers on house sales and invest during the right moment.

Try to get acquainted with a good real estate agent: While you start your research for buying a house, you will also come across several real estate agents who will try to lend you a helping hand. Try to get acquainted with maximum of them. Thus, you will know about the market value of the type of house you want to buy. Moreover, a good real estate agent will always help you get some discount from the property seller. He will also help you if you would like to sell any property in future.

Try to register the property in the name of your wife/mother: If you are a person belonging from Haryana, Punjab, Delhi, or Odisha, then you can save up to 2% if you get a house in the name of your mother or wife. Obviously, this point is not for the independent women reading this blog.

Bring out the creative self: Try to engage yourself and your family members in some creative activities for small interior designing and decorations. This will not only save your money but also bring you closer to your family members, thus, making the bond quite strong.

Try to reuse: If at all possible, reuse the old stuffs. You can paint the old furniture which will give them a brand-new look. You can also use other things that might have been kept in the store room for long period of time. This will definitely save you some amount of money.

The Bottom Line

Buying a house is a great experience. It requires exploration, patience, money, and lots of other things. Money is definitely a major decisive factor regarding to what type of house you will buy and where will you buy it. But is you and your family members who can turn the four-walled brick structure into a home sweet home.

This blog has tried to give some points that can help you when you plan to buy a house. Nevertheless, if you are in a problem while purchasing a house, or you need any additional information in regards to buying a house, you can reach out to Roodland India. We have a devoted group to tackle your issues and help you every way under the sun.

You can get in touch with us through our mail info@roodland.com and we guarantee to contact you with a promising arrangement at the earliest.