Common real estate mistakes any home-buyer can make

One of the most important things to keep in mind when you are house-hunting is to not let your feelings get the best of you and to not overestimate your budget. Setting your priorities straight is extremely important. Buying a home can be an emotional process as you need to spend the rest of your life there. It can be very confusing. For instance, you might have to choose between a new residential project in Pune and a 2 BHK flat in Pune Hadapsar which is ready for possession. But before getting into those details, there are some other decisions that you should make:

  1. Not knowing your budget: Before you even start looking into buying a new home, it is important to know how much you have in your pocket and the percentage that you would like to invest in your new property. Understand your monthly income and income from other sources. If you are borrowing money from friends or family do not overborrow or it would become difficult to pay back the amount later on and your new home might just become a financial burden for you. You should also factor in additional expenses such as furnishing your new apartment or villa, buying furniture, painting it, and any other changes that you wish to make.
  2. Home loans: It is essential to find out if you are eligible for a loan at your bank. Applying for a loan is a tedious task. Disburse the myth that you would apply for a loan and the credit would be processed within days. Loans are granted in your personal eligibility and your credit score. It is up to the bank to decide the total amount of loan that they would like to give and it is usually not more than 90% of your total worth.
  3. Trying to do everything on your own: While it is always a fun experience to be independent and do everything on your own but for real estate, it will be helpful to have an agent. If you walk into an open house and start negotiating with the seller’s agent, it may put you in a difficult position. Having an agent or a broker of your own will help you find the right flat. Agents and brokers work through an ethical code of conduct and will not try to dupe you into buying something that is not worth it.
  4. Letting emotions sway you: Don’t get desperate and let emotions sway you. It can be a tedious process but keep calm. The right house will find you eventually. Know whether you want to compromise on location or access to certain amenities. Once you make your decision with your family, stick to it.

Location is an important factor. Suppose if you are looking for a flat for sale in Pune Hadapsar then know if it has all the amenities you and your family will need. Visit the township, Amanora Park Town, several times and try visualising yourself living there!

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