Avoid These 5 Mistakes When Buying A New House In India

“Home is not a place… it’s a feeling” 

Investing in a new home is a very big emotional as well as a financial decision. It sometimes takes years to finalize a house.

As per a survey by the Times of India, ” More than 50% of people live in their own house in India.”

Unfortunately, many people make similar mistakes when purchasing a new house. It’s always essential to understand your primary purpose of the purchase, be it for your residential purpose, investment, or someone else, and then gauge your needs.

No matter how careful you are, you tend to overlook specific issues and make some irreversible mistakes.

 However, to help you out, we’re listing what not to do before buying a house –

 

1) Not doing enough research: 

Buying a home, as we know, is a big decision, so thorough research is the key. First, identify your needs and ask these questions to yourself:

  • What is the purpose of this house?
  • What are some basic needs you cannot compromise on?
  • List down some areas you want the house to be located in.

Many projects now offer virtual walk-throughs of the homes; hence, it is much better to opt for them as you can explore more and more projects if you have limited time.

new house in India cost

2) Getting attracted to superficial things:

First, there are needs, and then come the wants!

It’s wise to have a list of needs and wants. A prevalent mistake while finalizing a home is often getting attracted by superficial amenities that are not useful in everyday life. It is always advised to seek professional advice to help you make sensible decisions for a permanent asset like a home.

buying a house for investment

3) Not purchasing from a trusted builder:

A trusted builder is one of the most important aspects of buying a home. A developer is the one who decides everything from the quality of materials to the location of the project. A trusted developer plays a massive role in any post-sales concerns you have, which is something not most people provide.

buying a house process

4) Buying a home in haste:

Sometimes when you find everything in a home, the first instinct is to book the house and get done with it, but that is the biggest mistake one can make. It is a decision of a lifetime, and sometimes we do get influenced by external factors. In cases like these, it is advisable to have a trusted person who knows real estate and can guide you at every step of the home-buying process.

buying a house requirments

5) Not having documents ready for a bank loan:

Bank loans are a lengthy process that requires a lot of necessary documents. For example, the loan must be approved beforehand when you buy a new house. When you get a loan approved in haste, there are chances that you might get a loan of a bigger amount approved. Many lenders also push for a bigger loan amount than needed which is a benefit for the bank but a loss for you.

Don’t forget to check out – How To Save Money While Buying A House In Mumbai

buying a house steps

Now that you know what not to do while buying the house, we hope you book your dream home soon. AsmitA India Realty has 35 years of experience building Mira Road and delivering more than 3500 happy homes; we are sure to help you get closer to your dream home!

Our award-winning upcoming residential real estate, AsmitA Grand Maison, is a 33-storey twin tower with smart technology and 35+ amenities in the heart of Mira Road. Besides building smart homes, we’ve our existing luxurious AsmitA Sand Dunes, spacious 2 & 3 BHK modern apartments in Malad. 

If you wish to book a free virtual tour of your next dream home at AsmitA Grand Maison, click the link below.

 

We hope these points will help you make a wise decision!

By asmitarealty

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