Mr and Mrs Katiyar planned to buy a home in the City of Nawabs, Lucknow. They were looking for one rather eagerly because Mr. Katiyar was planning to take up a job in Lucknow. Since things were initially unplanned, the couple had a lot of trouble arranging for finances. Friends and acquaintances kept pouring their opinions and some even went to the extent of introducing real estate dealers to Mr. Katiyar. The couple was trying to fix up things without delay also because Mrs. Katiyar was pregnant and a baby on the way meant a lot of new responsibilities. After quite some time of research and negotiation with dealers and sellers, they finally shifted to their new home. However, the monthly expenditure went up to a considerable extent and several other things led to the couple being disappointed with their overall experience of first-time home buying.
Now, the home purchase of the Katiyar couple turned out to be an unsuccessful one because they made a few mistakes in the process. If you are a first-time home buyer too, you must learn from this and make sure that your new home leaves you with absolutely no scope of dissatisfaction. With a number of residential projects in Lucknow being developed, finding the right home of your choice is no big deal only if you keep the following valuable lessons in mind.
Start Saving Well Beforehand – Buying a home calls for a huge investment. In fact, a home is perhaps one of the costliest possessions you are going to have in life. So, no matter how prepared you are financially, it is imperative that you start saving right away. The more you save, the easier it will be for you later. Also, property value keeps rising and if you think that you will be able to stay within your budget, you might get proved wrong with time.
Avoid Rushing into Things – In the above cited scenario; the situation was compelling enough for the couple to buy a home without wasting time. But, if you do not have such urgency then it is better to go slow. Rushing into things makes you pay importance to some of the aspects and ignore the other essential ones completely. As such, even when you invest quite a hefty amount, you find out that the home does not offer you as much pleasure and comfort as you have expected.
Keep a Separate Fund for Emergency – Financial contingency is one of the biggest problems faced by first-time home buyers. Unexpected expenditures arise from certain areas, making situations even more difficult to handle. Also, if you are choosing a home in a residential gated community, you have to plan for the maintenance costs as well. The best way to handle this is by maintaining a separate fund for emergency that comes to your rescue just at the right time.
Keep these in mind to make home buying a pleasurable experience. All the best!