Top Mistakes To Avoid When Buying A Home

For a hassle-free experience and long-term bliss, it is important to avoid the common mistakes when buying a home

Investing in a home brings a sense of stability and security. You are no longer hassled by things like increase in rent payments and do’s and don’ts of the landlord. With your own home, you also have an asset that will continue to appreciate in value. However, such benefits will be available only when you make the right decisions. Let us take a look at some top mistakes to avoid when buying a home.

Do not overshoot your budget – While a larger flat with premium amenities may seem desirable, it will be better to stick with the budget you have. A home loan can be useful, but choose an amount whose EMIs you can afford. If EMIs are too high, it will impact your existing lifestyle.

Sunshine – You have to physically visit the construction site to ensure that the home you are buying is getting adequate sunlight. Just looking at the blueprint may not be enough, as things like trees and nearby structures can also block sunlight. Not having adequate sunlight can impact your mood and various home tasks such as drying clothes, food items, etc. You also will not be able to install solar panels or solar water heaters.

Avoid top floors – There can be excessive heat generated on the top floors. While you will have access to panoramic views, the heat issue can spoil the show. Moreover, there is always a possibility of leakage in top floors. Even if fixed, the water leakage issue may reappear after a few years. If your area receives a good amount of rainfall, it will be better to avoid the top two floors.

Approvals, NOCs and RERA – You do not want to be in a situation where your home is declared an illegal construction after taking possession. There have been many cases where courts have ordered illegal structures to be demolished. To avoid such painful situations, check all the approvals and NOCs of the project. Take help of a lawyer if you cannot decide yourself. Also make sure that the project is registered under RERA.

Location – What’s your priority in terms of the location of your home? Do you want it near your office or want close proximity to schools, hospitals, markets, etc.? Or are you looking for a relatively remote location, where you can avoid the hustle-bustle of city life? Based on these factors, you can decide the location of your home.

Amenities – Lack of proper amenities can adversely impact the overall experience of living in your home. So, make sure that the building project has all the amenities you need.

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