4 Things To Do If You Face A Hurdle During Home Search
Buying a home? The first you would have done is to pen down your requirements in terms of location, design, time of possession, size, budget, among others. But, getting into the process may not be as planned. So, be ready for the twists and turns that will take you by surprise.
Say, you might find a property in the locality of your choice, but it is not in your budget, or you may find a property in your budget but it would require some repair work; or a property that is perfect for your and your family's needs but is a little away from your own workplace.
MakaaniQ shares four ways in which you could troubleshoot your home search in case you face a roadblock:
Look for a similar neighborhood
The major roadblock a lot of home buyers face is the right property in the locality of their choice. So, when shortlisting on a locality, always have a priority list of localities ready with you. This will help you will have names of localities ready in case you do not get the property of your choice in the locality that is of the top most priority. To choose this priority list, know what you are looking for in a neighbourhood — safety, proximity, property prices, or particular type of people say your co-workers. Here are six tips to ensure that the neighbourhood you choose is safe.
Discuss with family
In case you hit a roadblock wherein the family needs are not being fulfilled, say the property you like is in proximity to your wife's office but is far off from your workplace or it is close to your respective workplaces but is away from your children's school. It's time to sit down and discuss how you should go about it. If the property you have chosen is next to perfect, then try to make amends at your end.
Keep extra money in hand
When buying a home, one of the major fix situations is when you zero-in on a property that fits well on all criteria but is a little beyond your set budget. Or you like the location but the house or old and would need massive renovation. In either of the scenarios, it's advisable to keep a certain percentage of your set budget aside for any cosmetic works or for a property that might be a little more than your set budget. Use this extra amount to invest in the property of your choice. But, make sure you don't go overboard. Here are nine tips to get the best home loan deals.
Unable to find the property of your choice due to unstable market conditions? It is advisable that you give your shelve your home-buying plan. Rather rent for a little longer and be on a lookout for the right property. Invest when the time and price of the property suit you.