Vinayak Realtech

Houses for sale, There is no feeling like owning your dream home. Buying a home is one of the most crucial decisions of your life. It needs perfect planning, dedicated savings, and ample search time. In pursuing this dream, being well-informed and aware of every aspect of the home-buying process is not just wise; it’s essential. It starts with making a perfect budget and ends with an interior.

We know this journey is not easy, and if you are a novice, you need expert guidance. For that, we are here today. In today’s article, we elaborate on 5 mistakes that home buyers must avoid.

Let’s start!

1. Houses for sale:  Accepting BurnOut

Home buying requires meticulous planning, and the planning starts with making the ideal budget. Choosing or buying an apartment beyond your budget causes burnout and unnecessary pressure. Sometimes, it also leads to losing ownership (because the owner fails to pay the bank loan). Hence, it is important to set a realistic budget and choose a property according to that. Take note that there are loads of other expenses except the apartment price. For example, the owner must pay the registration fees, stamp duty, etc.

2. Staying Ignorant about Credit Score

Many times, home buyers plan to buy a home with a home loan, however, they stay ignorant about credit scores. Activities like late payments, debt collection actions, or significant debt lowers the credit score. According to the experts, if you have a credit score lower than 620, authorities might refuse to provide a loan. Thus, try to avoid these mistakes if you are planning to have a home loan.

3. Overlooking Tax Benefits

A home buyer gets several tax benefits and if a buyer fails to be aware of these- they miss a steal deal. For example, a home buyer gets a deduction for interest on home loans that are not available for self-occupied properties under section 24(b). Meanwhile, 80(c) provides relief on stamp duty or principal payment. You must know these all to avail. For this, we suggest you take the help of an experienced lawyer.

4. Making Decisions in Hurry

We know the home searching process is hectic and tiring. Moreover, it causes significant stress. Many times, home buyers are in extreme hurry to get rid of this process. In this, they fail to verify the background of the realtor, check amenities, ignore locality, and fail to evaluate legal sides. A home buyer must evaluate the history of the realtor to check whether they have a habit of making delayed deliveries, check the quality of apartment amenities, look at the law and order of the area, and check all the legal papers of the property. A minor mistake can lead to a miserable future.

5. Not Hiring a Real Estate Agent

Finding a property on your own is not easy. Moreover, do you know that the right negotiation skills help in bagging an affordable dream property? Yes, it is a fact and for that, a home buyer must have an experienced person with them. A real estate agent guides Houses for sale in finding the ideal property with a specific budget and choosing a top-notch locality. They also bargain for home buyers.

Real estate is not just like another property, it is an investment. If you consider the mentioned factors it will be one of the best investments of your life ever. Here, the experts also suggest to evaluate the future of the location.

For example, the Newtown area is growing now. It is the present IT hub of West Bengal. Having a home in this area is a significant investment for the future. On the other hand, buying a home from a veteran realtor like Vinayak Realtech provides you with an assurance of 100% legalities.

How to Search an Ideal Property?

If you are a novice and in the planning phase, the whole process can be overwhelming. Especially, home buyers get confused about where to start and how. To assist in this journey, here is a simple breakdown.

1. Decide Budget

As stated, not having a perfect budget is one of the biggest mistakes one can ever make. Set a budget first. If you are taking a home loan, do not let EMI cross 50% of your income because there are a lot of other expenses and responsibilities as well.

2. Set Realistic Expectations

Setting a realistic expectation is crucial. The home buyer must know that within their budget, the kind of location or amenities they can receive. It contributes to a smoother search process and reduces the chances of getting scammed. During this, one must confirm the location, too.

3. Use the Internet as a Tool

 For an effective search process, you can start from the internet. For this, the budget and location can be used as keywords. For example, you can search for ‘ 2BHK flat in Newtown with 20 lakhs’. It helps to narrow down the search and save time.

4. Check Property Physically

Visiting the property physically is crucial. Visit the site, evaluate the amenities, and then only finalize. Here, experts suggest to get an expert for this. Only an expert can help to understand the qualities of amenities and their stability. Also, make a priority list of amenities before visiting.

5. Consider Lifestyle

Before finalizing a property, and Houses for sale always consider the present lifestyle and prospects. For example, if you have a nuclear family but welcome loads of guests, a guest room is important. On the other hand, a married couple needs a kid’s room (for future use). Remember, it is a lifetime decision, and apartments do not provide the freedom of expansion (like a home). Thus, considering all these factors is crucial.

FAQs-Houses for sale

What is the biggest mistake a home buyer can make?

Not setting a budget is the worst mistake one can make. It can cause burnout and increase the search time. Always set a budget and search according to that.

What is the best residential place in Kolkata?

Newtown, Rajarhat is the best residential place in Kolkata. It is the present IT hub of Kolkata. Hence, it offers ample employment opportunities and has top-notch amenities for life. For example, the best quality schools, hospitals, well-built roads, etc.

How can I search for a property in Newtown?

You can search on the internet, hire an agent or you can connect with Vinayak Realtech. They have several popular projects in this area.

Wrapping Up

Buying a home is a lifetime decision. It controls the quality of future life and stability. Thus, take ample time before the final payment. Always avoid the mentioned mistakes for a happier life and valuable property.

Best of luck and a happy home-buying, folks!