Everyone dreams of buying a home one day, but translating the dream into a reality requires a lot of hard work and planning. First-time homebuyers need to be more vigilant as there are a host of common issues that they could end up facing in the current market scenario. So here are some tips to guide you along:
Budget and Financing
Funding a home is capital intensive. The more costly the home, the larger the downpayment required and the bigger the home loan needed. You will need to pay 20% of the cost outright while your loaner bank pays the remaining. Choose a reputed bank that offers timely disbursals with low loan interest rates and processing fees.
Location is King
Choose a location that comes with important social infrastructure such as hospitals, schools, shopping centers, entertainment zones, etc. It should also have the kind of neighborhood that suits your lifestyle today and in the coming years too. The ideal location should also have good public transport hubs nearby and well-connected road networks.
Before finalizing on a home, think about your space needs in the years to come as kids grow up, elderly parents move in, etc. Choose a BHK size according to your budget and the number of people you foresee living in your home in the near future. Then there is also the factor of whether you are buying the home for self-use or as an investment. These questions should help you decide on the size of home needed.
Type of Home
There are numerous types of homes available in the market today. You could choose from apartments, flats, villas, villaments, stand-alone bungalows, etc. Then you also have the option of buying a home under construction or ready-to-move-in, or one that’s tailor-made according to your desires.
The Level Matters
Here’s something interesting for first-time homebuyers:
Developers charge steeper rates per square feet for apartment homes that are on higher floors of high-rise buildings. This means the first-floor apartment will be cheaper than the 5th floor apartment! Similarly, corner apartments are also sold at higher rates.
Multi-home projects come within gated communities that also offer a plethora of lifestyle amenities. These could include unisex gyms, swimming pools, kids’ parks, mini theaters, clubhouses, manicured gardens, etc. However, since homeowners have to pay for maintenance of these amenities, you should consider if you will be using these amenities before buying a home in these projects.
Buy your home from a builder with a reputation for timely deliveries, transparent transactions and quality of construction.
For those looking to buy apartments in Thrissur, choose to go with premium developers like Vishraam builders. With over 23 years of building experience and 46+ projects behind us, we have the happy smiles of over 3000 customers to back us. We also go one step further and build homes responsibly, with minimal harm to the environment.
Come, see our homes for yourself!