TRY TO AVOID THESE MIS­TAKES

HT Estates - - HTESTATES - Tip: Tip: Tip: Tip: Tip:

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.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.