Mistake that Couples Should Avoid While Buying a House
Apr 04, 2017 Home Trading Steps
Whether newly married or not, there are certain things that everyone should avoid before buying a property. Buying a property is a dream and finding that perfect home that matches the style requires a lot of effort and patience. After months of negotiation of cost with the builder, the feeling of finally signing the deal is unmatched. But there are certain things that should be avoided for the same.
If you have recently got married or are planning to get married, it is better to save some money for the down payment of the EMI rather than spending all of it on a grand wedding. As the life progresses the need of family increases too. When taking a loan from the bank or any housing finance companies, make sure that the loan amount does not increase more than 40 percent of your total monthly income and at the end of the month you are still able to save some money for the rainy day.
The biggest question arises whether to buy the property under construction or ready to move in property. The price between the under construction and ready to move in are very different. It is better to move in the constructed and ready to move in property. It may be higher in cost but it will save you from paying the EMI as well as rent. If in case, you are willing to buy the under construction property makes sure that the builder is renowned and check his previous project, their delivery, construction quality and present maintenance condition.
Most people buy the property falling under the pressure of their family and relatives. Make sure that you are mentally and financially ready to take this huge step. Buying a property just for the sake of buying one, can prove to be a disastrous step at the end.
If you and your spouse are buying a house together and contributing equally to the EMI, it is better to make sure with your spouse whether they are willing to continue with the job in future. Sometimes due to family conditions and situations, wives have to quit from the job. In that case, the burden of EMI falls solely on the husband.
It is also wise to check and clear all doubts with the builder before buying the property. Doing a background research on the developer, whether renowned or new, is a good step.
If you have recently got married or are planning to get married, it is better to save some money for the down payment of the EMI rather than spending all of it on a grand wedding. As the life progresses the need of family increases too. When taking a loan from the bank or any housing finance companies, make sure that the loan amount does not increase more than 40 percent of your total monthly income and at the end of the month you are still able to save some money for the rainy day.
The biggest question arises whether to buy the property under construction or ready to move in property. The price between the under construction and ready to move in are very different. It is better to move in the constructed and ready to move in property. It may be higher in cost but it will save you from paying the EMI as well as rent. If in case, you are willing to buy the under construction property makes sure that the builder is renowned and check his previous project, their delivery, construction quality and present maintenance condition.
Most people buy the property falling under the pressure of their family and relatives. Make sure that you are mentally and financially ready to take this huge step. Buying a property just for the sake of buying one, can prove to be a disastrous step at the end.
If you and your spouse are buying a house together and contributing equally to the EMI, it is better to make sure with your spouse whether they are willing to continue with the job in future. Sometimes due to family conditions and situations, wives have to quit from the job. In that case, the burden of EMI falls solely on the husband.
It is also wise to check and clear all doubts with the builder before buying the property. Doing a background research on the developer, whether renowned or new, is a good step.
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