House hunting is a long and tiring process. Well, it should be. You are trying to find a home for yourself and you are looking for an investment in your life. The most important thing in this process is to plan. Plan at least a year in advance and then begin your search. Here are 5 reasons why planning will get you ready (slowly & smartly) for the house hunting:
1. PLAN YOUR BUDGET
When it comes to your dream home, you do not want to set a budget restriction. But the reality is different and hard. Your dream home ultimately depends on your affordability. So, basis your income sources, savings, wealth, ready funds (from family & friends) etc. plan your budget. It does not need to be specific, but you need to know the minimum and maximum limit for yourself.
2. PLAN TO SET A DEADLINE
Basis the deadline, you can make estimates and reach a decision to actually start hunting house. You need to be sure of the city, locality, choices of builders to buy the property, type of home, budget etc. If your deadlines are not met, then you can rework them and start again with a deadline, your idea of ??buying a home will always remain one.
3. RESEARCH ON REAL ESTATE
Hiring an agent and finalizing a builder to buy the property from, is not enough. It definitely is a step forward in the right direction. But you need to know that it is an endless sea and whatever knowledge you have acquired from your agent, relative or friends is not going to be sufficient. With everything you need, you need to know everything else. start living in the home.
4. PLAN YOUR REQUIREMENT
How much do you want to buy your house? To reach the conclusion of what you want in your house, you need to be able to imagine yourself already living in one. This is just a hack, but it does help you in your bottom line. Other than this, talking to friends and relatives, searching the internet, going to home exhibitions etc. might help.
5. CLEAR YOUR DUE CREDITS
If you are planning for a loan for this investment, then your credit rating will be higher. To get a home loan, your CIBIL Score will be higher than 750 points (out of 900), which will only be paid for. And if you have any credit, then start clearing them off so that you can be eligible for the loan.
These are 5 basic things you need to keep in mind to get ready for the house hunting process. Hiranandani Communities , one of the best real estate players in Mumbai and Mumbai and you can get in touch with us. Check out the latest and future property in Panvel & Thane for your next investment.