So you have finally realized that it is high time that you bought a place to call it a home? Congratulations!
Buying your first house is a big emotional decision and gives you a sense of ownership that cannot be matched by anything else. But since its also one of the biggest financial decisions of your life, you need to ensure that you don’t make a mistake.
You ofcourse need to have some idea about the cost of the house you wish to purchase. But even before you start worrying about the financials (like amount of loan, downpayment, repayment period, EMI, etc.), you need to find the house. And be reminded that it will not be easy, given the enormous number of options homebuyers have these days. 1BHK flat, 2BHKs, 3BHKs and what not. You can get what you want (ofcourse if you can pay for it).
So how do you find your dream home?
The first step is to fix your budget. Lets say you decide that you will buy a house for not more than Rs 50 lac.
Now with that set, you need to start looking for suitable flats for sale. And this is where technology can come to your help. You can use various apps and website to shortlist homes that meet your criteria. Remember, for a given budget you can get from 1BHK flat to even a multi-room penthouse. So you need to be as clear about your criterias as possible.
Once you have shortlisted, you can get on the ground and make visits to these houses/flats to see which ones can be eliminated. This will further reduce your shortlist. Repeated iterations and discussions (with seller and own family members) will help you finalize the flat. Now once that is done, you can go about starting your hunt for the best home loan deal that you can find.
You might be surprised but these days its possible to buy homes online too. Many big financing companies list properties online that are pre-approved by them for financing. So you can even start your search for ideal property from such online showcases.