In Indian households, owning a home of your own is a dream that everybody nurtures from a young age. Not only is it a sign of financial well-being, but it is also a smart investment. But buying a house is not as straightforward and easy as you may think. Buying a house is one of the most important decisions that have a very high potential to impact a family’s financial stability. It has the potential to impact both negatively and positively. Because of the many variables involved in the process, it is extremely important to take your time, gather all the details and information regarding the property you are hoping to buy and make an informed decision. There is always a fear of developers not being transparent and conducting fraudulent activity. 30 to 40 per cent of people, who invest in property without proper information and research, end up unhappy.

Five years ago, there was a big bubble on the properties on Wardha Road, Nagpur, but today people are regretting their decision. They did not plan before investing their hard-earned money. Even though buying a house is a very exciting process, but it can all go waste if you don’t do your research before signing the dotted line. Here are some points you may want to be careful about.

5 Biggest Mistakes Made By First-Time Homebuyers

• As someone who is looking to buy a house for the first time, there are a lot of steps and details that you are unaware of when you start. Without the help of professionals guiding you, you might make some mistakes that could cost you dearly. Here are the top 5 worst mistakes that first-time homebuyers typically make.

• Taking more than you can handle:

You take that first step toward finding your dream house, it is extremely crucial to calculate your budget and try to look for houses that fit in that price range. Paying off that loan on the house that is even slightly out of your budget will make your dream home into a nightmare. 

• Get information on the builder:

It is very natural to get excited about buying a new house. But closing the deal on a house without doing your research on the builder is an error of judgment on the part of the home buyer. There are many known cases of builders and developers who have taken advance payment from customers only to embezzle the money and go absconding. The story of your house-hunting adventure could end up as a tragedy.

• Selecting the wrong loan:

A house can end up being a huge financial burden on a household. People usually end up taking home loans to help them out. Banks offer a variety of loans like floating rate home loans, incremental EMI home loans, fixed-rate home loans, semi-fixed rate home loans. Choosing the wrong loan can prove detrimental and end up bleeding you dry.

• Failing to inspect the property before buying:

It is very easy to jump the gun when you are buying a house. First-time homeowners are excited and look forward to getting possession of their house and start living their dream life in their dream house. Make sure your dream house doesn’t turn into a nasty surprise. You might find your brand-new home to be infested with pests or a plumbing issue or other such problems.

Neglecting to use professional help

Shy away from getting professional help who are dedicated to making sure your house-hunting goes smoothly and you find the home you have always wanted. Neglecting an expert opinion is not advisable. Professional agents are well equipped with all the small details.  

How Property Clinic Helps

    taking steps toward one of the biggest decisions of most people’s adult life is terrifying. Buying a house without the right guidance can cost you dearly. It is advisable to take help from experts who will help you take the right steps to buy the house that is best suited to you. Here are a few ways Property Clinic can help in this journey.

1. Helping you get the house you can afford:

You can get carried away when you are emotionally involved, and buying a house is indeed an emotional prospect. Here’s where Property Clinic will help you out. We at Property Clinic will help you calculate your budget and streamline your search for a house. We will even help you make the best of pmay (pradhan mantri awas yojana), this way you don’t stretch your pocket too much and get what you want.

2. Helping you do your homework:

There can be no jumping the gun when dealing with important investments like buying a house. You may find a house that fits your budget and your requirements. But you shouldn’t be in a hurry to buy it. It is necessary to do good research on the area and the builder. At Property Clinic, our agent will help you get all the information on the neighbourhood, the area and the builder so that you know you are making an informed decision and find a property that is RERA approved.

3. Inspect the property:

Don’t want to deal with unwanted surprises after you purchase a house. A plumbing issue or pests is the last thing you need when all you want to do is celebrate in your brand-new home. Property Clinic will appoint an executive who will take you on a site visit. This will ensure that the house you want to buy is as perfect as you hoped for.

4. Work with experienced professionals:

Like you are drowning in a pool of information you can’t understand and have to make a decision? This is where we come in. Surrounding yourself with professionals like Property Clinic will make this process easy and effortless. We at Property Clinic will help you sort through all the choices and help you make the best choice!

5. Negotiate as much as you can:

No one wants to be frivolous with their hard-earned money. So, when it come to spending money on a house, you should negotiate as much as possible. A few thousand grand seem little in the big picture, but it adds up in the end. WE make sure at Property Clinic you are assigned an executive to negotiate on your behalf and make sure you get the best deal possible.

Although buying a house seems scary and stressful, it doesn’t have to be that way. With the help of Property Clinic, your house-hunting and buying will be exciting and fun. Being prepared with information and the awareness of the mistakes that can happen will ease your way into home-owning. We at Property Clinic will make you feel like you have a friend who has your best interest in mind. So, go house hunting with confidence, we will make the hard-to-understand technical information a cakewalk. Our executives Property Clinic will guide you through various government schemes like pmay and mhada that suit your requirements. A life-changing financial decision can take up a lot of your time and attention, but with some professional help, it will be a cruise!