5 Things to Consider for First Time Home Buyers

Buying a home for the very first time is both nerve-racking and an emotional process at the same time. Even a small mistake from your end can make you prone to a number of losses, be it in monetary terms or emotional terms. 

You don’t want that to happen. Right? So, if you are a first-time home buyer and planning to buy affordable flats in Ghaziabad, here is a complete list of important points that you need to consider. Scroll down. 

1. Determine your Needs 

Do not rush to the market unless and until you know what exactly you need in your dream home. Be it specific amenities, facilities or PLC, jot the points down and then visit the market to filter your search for 3, 2 or 1 BHK affordable flats in Ghaziabad. 

2. Build an Emergency Fund

Owning a home is much expensive than renting. All the costs, including upkeep and maintenance fall in your kitty, when you decide to own a home. These costs will further increase as time passes by. Hence, it is advised to create an emergency fund that can handle your expenses for a period of at least 3 to 6 months. Also, ensure that you are completely debt-free. 

3. Set your Budget 

A budget is something that prevents you from going off-track. Being a first-time home buyer, you should know that financial institutions offer a lower interest rate to the newbie’s. But, only 80% of the value of the property is financed under a home loan. The remaining portion has to be derived from your personal finances. So, do evaluate your personal finances to check how much you can afford. 

4. Choose the Location Wisely 

Location is the biggest factor that decides whether or not your investment in 2 or 3 BHK flats in Ghaziabad is worth it. Before you decide on a location, ask yourself a few questions - 

• How much time will it take to travel to my workplace from this location?
• Does the location shares proximity to supermarkets, ATMs, banks, restaurants, schools etc.?
• Is the neighborhood surrounded by good infrastructure?

5. Choose a Reputed Builder 

No matter how much time it takes, you should always choose a well-recognized builder in Ghaziabad. A builder offering lower prices may certainly entice you as a first-time home buyer. But, you may not be assured about their quality of construction or their commitment towards project delivery. Hence, you should always choose reputed real estate builders or housing projects, like LandCraft MetroHomes that are RERA certified.  

With these points in mind, get ready to find the right home for your family. Start your search today!

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Created on Jan 22nd 2020 04:29. Viewed 291 times.

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