Some things are learned through experience and buying real estate is one of them. From confusing terminologies and logistics that go into buying a house, it becomes easy for the buyers to make a wrong move that can result in an unwise investment decision. According to a survey conducted by experts at Modi Builders, it was observed that first-time homebuyers are more likely to make these mistakes rather than those who have had experience in the real estate market.
Here are some common mistakes that buyers make that can be easily avoided:
Not Making an Informed Decision
The most common mistake of all is that the home buyer doesn’t always do proper research before buying a home. One must analyze assets, decipher debts and get financially pre-approved before starting the house hunt. Remembering the fact that not only are you buying a house but also investing in the coming years of your life in a location. It’s important to find out about the quality of schools, transport, and other properties.
Not Knowing the Neighbourhood
Always be aware of your neighborhood. Everyone has different needs and requirements when it comes to the locality which is why knowing the economical need of your neighborhood and doing personal research of the area becomes necessary for the home-buyers. Some of the top builders in Hyderabad offer gated community housing projects so as to provide luxury to individuals so they can feel secure.
Commuting is an important part of an individual’s life. Be it a student or a working professional. It is always wise to look for a home that is in close proximity to the workplace, school or college. Buying a home far away from your workplace will not only be physically tiring but also monetarily challenging. Underestimating the commute is another common mistake new home buyers make.
Not Being Able to See the House Past its Appearances
Top builders in Hyderabad have often stated that buyers get so busy looking at superficial details and forget about things that they can’t change about the house like the location, the yard, or that it’s on a busy road. They may overlook a home that needs some paint but has a good location. When house-hunting, keep in mind both cosmetic details that can be altered, as well as those that are expensive or impossible to fix.
Only Looking at Mortgage Rates from One Lender
It is always better to compare the mortgage rates. Speaking to an experienced loan officer can help you look for the best rates and mortgage products. Some of the realtors in Hyderabad like Modi Builders, provide you with the entire detail of the property that you are looking to buy.
There are a ton of home-buying mistakes to watch out for where each of them could cost you lakhs of money—or thousands of headaches. That’s why it is better to match with the bets-performing real estate agent and builders to have a hassle-free home-buying experience.