7 things to keep in mind if you are a first-time home buyer

Veegaland Homes | July 28, 2023

Buying your first home is undoubtedly a big move and the whole homebuying process could be equally exciting and confusing for a first-time homebuyer.

Irrespective of the reason you are purchasing a home – be it for moving in with your loved ones or as an investment opportunity, it is really important to have a basic understanding of the home-buying process.

In order to address this concern of a first-time home buyer, Veegaland Homes – one of the most reliable builders in Kerala has prepared this blog “7 things to keep in mind if you are a first-time home buyer” to help first-time home buyers navigate the home-buying process:

• Set a practical budget

Figuring out how much you can safely spend on your home purchase before starting the home-buying process and setting a budget based on your income, debt, downpayment, etc is really important.

You may utilize some of the online home affordability calculator services in order to get a clear idea about the budget and analyze your financial capability to repay the loan amount. This is the first thing to keep in mind if you are a first-time home buyer.

• Decide on the type of property

With the modern real estate industry offering different types of properties for residential needs, it is also important to figure out the right type of house you or your family might require.

Taking into consideration the number of rooms you and your family may require with regard to the number of family members is extremely important. You should also make sure that the home you have chosen fits within your budget.

• Focus on the location

Choosing the right location while buying a home is undeniably an important decision. If you are looking for a property in a big city – where commuting from one end to the other could be a problem, it is really important that you make sure that your home is within accessible distance of your workplace, your children’s school, the public transport system, etc.

Once again, as the prices of property vary a lot depending on the location, make your decision wisely.

• Consider the amenities and features

Amenities and features are the two most important prerequisites for modern homebuyers and for some, they even turn deal-breakers in the process of purchasing the dream home.

Therefore, right before beginning the search for your dream home, decide on the amenities and features you would like to see them with. You also need to be careful while choosing the amenities as they can add up to the total cost of your home.

• Select the right home loan

With homebuying being a purchase of a lifetime, only very few people can pay upfront for a loan. Therefore, while availing of a home loan, it is really important that you do your homework and compare home loan rates and features offered by different banks – starting from your existing banker.

As a home loan offers substantial tax benefits to the borrower, having your home loan approved is one of the important steps in the home-buying process.

• Review maintenance costs

Despite being another important factor to be considered not just by first-time home buyers, but by all homebuyers in general, this is most of the time an overlooked important fact.

With most modern apartments offering a range of amenities and features, homebuyers should essentially review and plan for the maintenance costs in advance so that they can determine the total cost of living for a particular project.

• Choose a reputed builder

Last but not least, it is of vital importance to verify the credentials of the builder you are planning to associate with the purchase of your new home.

Checking their track records on timely completion and delivery of their past projects, quality and effectiveness of maintenance services provided, checking out the existing customer’s experience and getting their feedback, etc are the different means by which you can ensure the reliability of a builder. These are the main things to keep in mind if you are a first-time home buyer.

Introducing the true implementation of construction quality and luxury beyond words, into our apartments and premium Flats for sale in Kozhikode , Kochi, Thrissur, Veegaland Homes has proven competence in on-time delivery of dream apartments in Kerala including, built with state-of-the-art design and world-class amenities.

To learn more Offers about our ongoing and upcoming apartment projects, please visit: https://veegaland.com/campaigns/welcome-nri-home-expo/