Owning a home is one of the most satisfying experiences in life. However, the present market conditions have made it a tad bit challenging to own a home. Rising prices and interest rates have put off many prospective buyers looking to invest in their first home. But there is a workaround here. You just have to be realistic in your quest to own a property. What many fail to understand or realize is that owning a dream home doesn’t necessarily mean spending over and above your limits. A dream home is not a place with the best in class features; a dream home is a place where your family is happy. In this blog, let’s look at a few aspects that would help your quest to own your first home.
What To Look For In Your First Home: Important Factors To Consider
How much can you afford? Once you start your journey with a set budget in mind, the whole process becomes a lot easier. More often than not, the price of a property doesn’t match with the expectations of your dream home. This is where certain compromises will have to be made. There is no point in buying a luxury home if it’s going to put you and your family in financial turmoil. The key here is to look for the perfect balance. If your budget does not get you a villa, then it’s totally fine to invest in an apartment. Don’t keep putting off your plans of owning a new home. The rates are never going to subside.
Where you live is often more important than what you live in. Looking for an apartment or villa in a safe and secure neighbourhood makes all the difference to the quality of life. Not just your quality of life, but also when you decide to sell the property, you can rest assured to get the best possible deal. There is a common misconception that buying the worst property in a top-notch neighborhood can get you the best deal. Your house is not just a place where you live, but an investment that should get you great returns when you decide to sell it. Also, there is a good chance that the property in question will have a lot of maintenance work to be dealt with, taking your expenses even further.
Once you have shortlisted a few neighborhoods, to ensure that you take time out to look at all the facilities available in the vicinity. What is it like on the weekends? Do you and your family have everything that you’ll need close by? Make a list of pros and cons and then proceed with the neighborhood that suits you the best.
SCHOOLS AND HEALTHCARE FACILITIES:
While schools and healthcare facilities form part of an ideal neighborhood, I’ve decided to mention these separately to emphasize their importance. Schools and healthcare facilities feature on the top when it comes to prospective homebuyers looking for their first home. Simply put, it’s part of our daily lives, or they will be one day or the other. If you have (or plan to have) children, wouldn’t it be best for them and your family as a whole to have a proper schooling facility in the neighborhood. Same is the case when it comes to healthcare facilities. If you have old parents living with you, wouldn’t it give you a lot of peace of mind to know that a top functioning healthcare facility is in the vicinity to deal with an emergency? Make it a point to ensure that these two facilities feature on top of your priorities when it comes to the locations you’re looking at. Trust me; it would do you a world of good.
Don’t we all love to live in a property set amidst a sprawling compound with spacious rooms and top quality amenities? To be honest, we really don’t. If you have the money to invest then go for it by all means. But if you are on a budget, you’ll have to settle for more realistic options. Do you need a cosy apartment or a villa? How many bedrooms do you want? Every bedroom or bathroom adds to the overall cost of the house. Look at options that suit your exact needs. An extra bedroom for the guest that will never arrive is not worth your time or money. If a 2BHK apartment would suit your family, then stick to the plan and go for it. If it’s a must to have a 3bhk apartment, do accordingly. Understand your priorities and invest accordingly.
The challenge for any individual who is searching for their first home is to think which type of homeowner they would like to be. It’ll be in your best interest to look at options based on the amount of money you are willing to spend and the realistic necessities that cannot be compromised in order to find an abode that is ‘close’ your dream.
If you are looking to buy your first home in South India then check out Victoria Realtors offering in Kerala :
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