TRY TO AVOID THESE MISTAKES
Mistake 1 The most common one includes buying a budget home because it is inexpensive or a broker has offered a good deal or discount.
Do not be taken in by brokers who claim that the unit will be sold within a day. Mistake 2 Often homebuyers prefer a ready-to-move-in over a ready flat. While it is a fact that the former is relatively more expensive than the latter, it often makes sense to opt for an underconstruction flat and wait for a year longer as new constructions are often larger and have better facilities
Weigh all options before making an investment. Mistake 3 Ask yourself if you’re able to convince the developer that you are serious about buying a house and are not a window shopper. Before asking for a discount make sure you have the wherewithal to make a down payment and are qualified to avail of a home loan.
Demonstrate that you are serious and have the purchasing power. Mistake 4 Don’t go in for a studio or a 1BHK because it is inexpensive. If you are single, ask yourself if the house would meet your requirements once you have a family.
It does not pay to think too small while buying a flat. Budget for both finances as well as a growing family while buying a home. Mistake 5 Always carry out an extensive survey of projects in the area and a background check for developers, including the projects that they have delivered.
Don’t buy the first project that you see. studio apartment will undoubtedly meet the requirements of a bachelor or a newly-married couple.
However, there is a ‘growth curve’ that needs to be factored in — most bachelors eventually seek to marry, and most married couples will have children. Also, elderly family members who are still able and content to manage on their own today may not be able to do so in a few years’ time. In other words, it does not pay to think too small while buying a flat. It makes sense to budget for both finances as well as future needs while buying a home.