What to Know Before Buying First House

Bookmark and Share

When you dream of getting your first house, too many thoughts crop up just to ensure that everything goes well. Factors like budget, location, facilities, personal choice and many more things should be essentially considered before buying a house.

Renting a house is much easier as you just have to pay the bulk money once the month ends, but buying a house needs a greater thought; you might not be actually ready for it at the moment, so before committing to your family and friends go for cross checks if you can actually buy a house now. This article will tell you what to know before buying first house:

  • The right time: Often buyers jump into the decision of buying homes, but then due to some professional or personal reasons they need to change the city or country and thus the decision is regretted. Make sure it’s the right time to buy your first home, your financial condition, your necessity of getting a new home, your secured official position and your ardent requirement to stay in the town – all count in this point. Just check that you actually need to buy it and there is no other option.
  • Credit check: Go for a thorough credit check before taking this decision. Often cash requirement is just not enough while you think of buying home, make sure you are not lodged with too many credits at hand and have ample money to spend on this new purchase. Above all, look for a proper loan lender. Nowadays, both private and government banks offer good loans, so arrange for it beforehand.
  • Proximity to places: Often people land up buying homes on lovely locations, but unfortunately they stand far away from significant areas like market, commuting stations, office, schools and so on. Be practical and look for a location that is closer to these places or the place where you need to travel every-day. This would help you to save money on transport for a long term basis.
  • The right real estate agent: If you get hold of a real estate agent, he will be the insider to the world of home buying. The right person can be the real asset when buying your first home. He should be giving you the quality advice, so look for names that have a brand value. If you are relocating to a new city with a company, they can surely help you to get a proper agent. Some agents specialize in specific type of property; thus check it out. Preferably, if the agent belongs to the National Association of Realtors, you are in safe hands.
  • Home Inspection: This is the most important thing when all the formalities are done. Get a good home inspector and take him to the location. Let him check all the construction details and area specifications. His honest review will help you to get a wise bargain. Let him check out the walls and floors meticulously before you finalize the sale. His guidance will reap benefits in the long run while buying your new house.





Due to inflation, people set to lose control over maintaining their on-going expenditure ...    More..
Real Estate in India is gripping the ground much more tightly as the days pass by. It has...    More..
First of all, we hereby discuss with reference of this article about key functional area ...    More..
India has quite apparently been gone inclined towards Real-Estate business, and why not w...    More..

Photo Gallery



You may also like to read about...

Tips to take House for Rent in India

Due to inflation, people set to lose control over maintaining their on-going expenditure and go on increasing the charges for each an every required i...   

More

All about residential real estate care facility

Real Estate in India is gripping the ground much more tightly as the days pass by. It has become one of the big platforms for doing great business eve...   

More

How to calculate EMI for loan against property

Loan against property is a new scheme by the banks which help in reducing the interest incurred from the loan. The greatest benefit is that this servi...   

More

House Loan Interest Rates in India 2013

India has always been a hard-working nation. The way, it started proceeding towards development, Kudos must reach the pioneers’ laps. India has ...   

More