Important Tips for Single Women Home Buyers
Once you are independent/earning well and saving decently, you are good to invest in a residential property as soon as you have accumulated sufficiently for a handsome down payment. Homeownership also has other benefits if you are single, for instance, you will be entitled to a
1. Security:
This is most important of all the parameters. Do not move into a locality unless it has low crime rate else you will lose your peace of mind thinking of securing your assets and yourself. Make sure you check the distance to the nearest police station, frequency of police patrols, status of security guards in your township and number of functional security cameras around your house. Also check if the passersby are allowed after identity card check or not. New Projects like Brigade Omega have a sound and reliable security system which ensures you and your assets at home are safe as it checks day to day threats. Hence, living in a walled society is always preferred.
2. Budgeting:
Budgeting is most important, every township has homes for different income brackets and you can take advantage of this easily. Initially you can buy a home which falls within your budget and as its value increases and as your savings and income increase, you can buy a 4 bedroom apartments in Bangalore at a later stage. Do not exceed your budget thinking about the loan banks and sanction. Counting on debt for a higher standard of living is never a good idea, make sure you take minimum loan.
3. Goal Achievement:
It surely is the biggest goal to achieve and gives immense confidence, so don’t delay. But don’t stretch your limits and make your family understand the concept of slow and steady wins the race.
4. Emergency Fund:
When you budget make sure you don’t touch the emergency fund you have accumulated. It is only to be used in case of uncertainty and not to meet your goals because emergencies mostly come unannounced and hardly ever give you a chance to arrange for funds. So, do not get carried away by lavish homes and expensive lifestyle, buy what is easily within your limits because there are post purchase monthly costs also which are mandatory for luxury houses.
5. Insurance:
Get your property insured as soon as possible, this helps you with maintenance costs every couple of years. This also protects it from crime and other threats.
6. Trust Yourself:
You are the best judge of your choice. Buy a house which you can relate and where you feel comfortable living, which is close to your workplace, and where you are well connected to the rest of the city for medical aid, entertainment, shopping etc. for instance, the flats for sale in Banashankari, Bangalore are a good option for first time investment.
7. Suit Yourself:
Do not depend on others for any decision because every individuals’ preferences are according to their own understanding and way of life. You should weigh your circumstances and take your investment decisions accordingly.
8. Don’t Sway:
Wisely decide upon a property to buy and do not sway much. Once you have finally decided which house to buy and here, try to stick to stick to it if the talks have begun. If you show too much indecisiveness in this matter, the broker might take advantage and increase his commission and sell off a bad one to you.
9. Consider Future:
Life stage is also an important aspect for this decision. If you have kids in school or college, make sure your township is close to their institute as well. Or if you are about to get married, buy a property which can be sold off easily and quickly and with increasing asset value so that if there is a need to relocate, you can buy another one close to your husbands house so that it is easy for maintenance.
1. Security:
This is most important of all the parameters. Do not move into a locality unless it has low crime rate else you will lose your peace of mind thinking of securing your assets and yourself. Make sure you check the distance to the nearest police station, frequency of police patrols, status of security guards in your township and number of functional security cameras around your house. Also check if the passersby are allowed after identity card check or not. New Projects like Brigade Omega have a sound and reliable security system which ensures you and your assets at home are safe as it checks day to day threats. Hence, living in a walled society is always preferred.
2. Budgeting:
Budgeting is most important, every township has homes for different income brackets and you can take advantage of this easily. Initially you can buy a home which falls within your budget and as its value increases and as your savings and income increase, you can buy a 4 bedroom apartments in Bangalore at a later stage. Do not exceed your budget thinking about the loan banks and sanction. Counting on debt for a higher standard of living is never a good idea, make sure you take minimum loan.
3. Goal Achievement:
It surely is the biggest goal to achieve and gives immense confidence, so don’t delay. But don’t stretch your limits and make your family understand the concept of slow and steady wins the race.
4. Emergency Fund:
When you budget make sure you don’t touch the emergency fund you have accumulated. It is only to be used in case of uncertainty and not to meet your goals because emergencies mostly come unannounced and hardly ever give you a chance to arrange for funds. So, do not get carried away by lavish homes and expensive lifestyle, buy what is easily within your limits because there are post purchase monthly costs also which are mandatory for luxury houses.
5. Insurance:
Get your property insured as soon as possible, this helps you with maintenance costs every couple of years. This also protects it from crime and other threats.
6. Trust Yourself:
You are the best judge of your choice. Buy a house which you can relate and where you feel comfortable living, which is close to your workplace, and where you are well connected to the rest of the city for medical aid, entertainment, shopping etc. for instance, the flats for sale in Banashankari, Bangalore are a good option for first time investment.
7. Suit Yourself:
Do not depend on others for any decision because every individuals’ preferences are according to their own understanding and way of life. You should weigh your circumstances and take your investment decisions accordingly.
8. Don’t Sway:
Wisely decide upon a property to buy and do not sway much. Once you have finally decided which house to buy and here, try to stick to stick to it if the talks have begun. If you show too much indecisiveness in this matter, the broker might take advantage and increase his commission and sell off a bad one to you.
9. Consider Future:
Life stage is also an important aspect for this decision. If you have kids in school or college, make sure your township is close to their institute as well. Or if you are about to get married, buy a property which can be sold off easily and quickly and with increasing asset value so that if there is a need to relocate, you can buy another one close to your husbands house so that it is easy for maintenance.
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