Mistakes To Avoid When Buying Your First Home

Everyone aspires to buy a home of their own at least once in their lifetime and becoming a homeowner brings with it matchless feelings of pride and euphoria. However, since it’s a major financial commitment, homebuying does require quite a bit of planning and saving as well.

Aside from this, since it’s a very significant decision that will affect the quality of your life for many years to come, you will need to be very prudent too. You’ll have to educate yourself on all the features that go into the buying of possibly the biggest investment of your life. And when choosing a location, you couldn’t do better than to buy a luxury apartment in Thrissur, Kerala’s cultural capital. Its teeming with excellent infrastructure, career hubs and a peaceful, green environment. But before proceeding any further on the homebuying route, here is a look at some of the commonly-made mistakes by first-time homebuyers and how to avoid them:

Background Research

You will first need to have an idea of what you want in your home, whether it’s a luxury villa in Thrissur or an apartment in Thrissur, the number of BHK, the location, the amenities as well as your budget. Since its common practice to browse online before purchasing anything, you can scour through numerous projects online and even take virtual tours of projects that interest you. This will give you an idea of what’s available on ground and research for reviews about those projects before visiting them physically.

Getting Distracted

There is a high probability you will see properties that you will fall in love with straight away while you are home shopping! But you do need to be practical as the said property should also fit within your list of requirements such as budget, location, builder and their reputation, etc. So, getting emotionally attached can be a major mistake!

Too Many Freebies

While it’s a human thing to be attracted to freebies, you need to tread cautiously when it comes to homebuying. Too many discounts, freebies and the builder bending over backwards to accommodate your requirements is a definite red herring! This could mean you won’t be getting a quality product at the end of the day. Run away while you can!

Staying Within Budget

Even if your dream home lookalike is out of your budget, don’t go on a whim and buy it! In the long run, it could put you into serious financial constraints as you struggle to repay back a heftier loan. It could also drain you off your rainy day savings, leaving you unable to cope up with unforeseen expenses.

A Trusted Builder

Checking the reputation of your builder is crucial when buying a house. With a well-known builder, you can be sure that all the appropriate legal permits and certification papers are in order and aboveboard and that there is assured quality of construction. The same cannot be assumed from an unknown builder.

Other Expenses

Aside from the down payment of 10-20% of the cost of your new home, you do need to keep other expenses in mind when buying a home. These hidden expenses include the registration fee, stamp duty, interior designing charges, taxes, moving home expenses, etc. All these aren’t covered by your home loan, so do ensure you are covered for these expenses too!

Growing Family

Remember to plan ahead for the needs of your growing family when buying a home. Kids will need more private spaces as they grow as well as easy-to-access educational institutes. Similarly, elder members will need medical facilities nearby too. Keep all this in mind when buying your home!

For those looking to buy a luxury apartment in Thrissur, do check out the homes by the award-winning Vishraam builders. Well-known for their transparent transactions, ethical practices, use of quality materials and responsible green measures keeping Mother Nature in mind, you couldn’t go wrong by choosing to buy a Vishraam home.

There are numerous Vishraam apartment projects strategically located in key areas of the city, so that residents can benefit from nearby infrastructure! Furthermore, Vishraam builders have over 22 years of experience in building over 45 quality projects and 2000+ happy customers to vouch for their comfortable homes.

Do come and check for yourself too!