When you get your first job, go on your first date or spend your first salary, it’s a euphoric moment, a significant point in time that you won’t forget easily. The first home you buy also brings on similar feelings, an unforgettable moment in your lifetime. However, since buying a home involves a substantial amount of financing and is a long-term investment and a source of financial stability, you do need to go about the process in a very careful and planned manner.
For young homebuyers who want to buy apartments in Thrissur, there are a variety of exciting and contemporary-styled homes to choose from. Thrissur is home to numerous high-end businesses, premium educational institutions, an emerging IT hub and a thriving multi-dimensional culture. All this and more makes Thrissur one of the best places to buy a home. But first, you will need to understand all the different aspects of investment. Factors such as location, budget, home loan, builder, amenities, connectivity, etc., all need to be taken into consideration before finalizing on your dream home. Here’s a look at some important tips for young homebuyers to consider before investing:
There are a variety of homes available in Thrissur, and they all come with widely varying prices. Hence, before deciding on which home to buy, you will need to decide on your budget first. Knowing how much money you can afford to invest in a home will help you figure out whether to go for a high-end villa, a luxury apartment or a budget flat. Since a home loan is traditionally taken to pay for your dream home, you need to consider your financial commitments too and be comfortable enough to use 40% or less of your monthly salary for repayment of EMIs over a period of 15-30 years.
Since homes are expensive purchases, most people end up taking the assistance of a home loan to tide over the cost. However, before settling on a bank for your home loan, you need to research around and check which bank is offering the lowest interest rates. Even a 0.25% lower interest rate can result in substantial savings on your loan. Aside from the interest rate, there is the processing fees, loan tenure, loan amount, floating and fixed interest rates, bank reputation, etc., to consider too.
Once you have cleared up the financial issues, your focus needs to shift to the location for your first home. Cost of homes vary substantially in accordance with their location. Homes closer to the city center cost more than those in the suburbs. Other than the cost, you need to factor in its neighborhood, available and upcoming infrastructure, ease of connectivity to important places like your place of work, accessibility to good schools as well as good hospitals and shopping centers.
Type of Home
Most cities are expanding vertically more than horizontally. The type of home you buy will depend on the budget you have. Depending on the number of members in your family, including the kids you are expecting, you can plan for 2, 3 or even 4BHK homes. Aside from this, you will need to choose between villas, flats or apartment homes. And then there is the luxury factor. The more luxurious your home, the more it’s expected to cost. Plan on a home that takes consideration of all these features.
And then you will need to decide on the amenities that are important to you and your family’s needs. Most contemporary apartments come with unisex gyms, swimming pools, kid’s playgrounds, clubhouse, etc. Go with homes that offer the amenities necessary for your lifestyle.
Finally, the builder of your home matters a lot too. Always go with reputed builders to ensure you are buying a quality home. Vishraam builders are the top developers in Thrissur and well-known for their magnificent projects spread out in and around the district.
Vishraam builders have been in the business of constructing quality homes for well over two decades and come with the experience of having built 45+ residential projects and over 2000 happy families! Trust and transparency are a legacy here and go hand-in-hand with responsible building practices that ensure the least harm to the natural ecosystem.
When you buy a Vishraam home, you buy into a legacy of trust and happiness!