Owning a home is any person's most fulfilling pursuit as well as the most thought about decision. With so many legal, financial, social and family factors involved, finding the right house is a tedious process. However, with the right mindset, researched knowledge and just a little bit of luck, you can find your dream home more easily than you think. Here's our simple six point plan to help you choose and buy your dream home:
Make up a mindset: The biggest obstacle in finding the right home is a person's mindset. If you are not sure what you want, it will become infinitely more difficult to find the right home for you. So start off with the right mindset.
Start the search: You can start your search by getting in touch with a broker or by looking at newspaper ads and web portals. Check for legal issues: Be as diligent as possible as legal issues are the number one reason for loss for property investors. Check if the following things are in order: Legality of the land, legality of the property, legality of the right to sell and if the stamp duty has been paid.
Survey the property: Proper survey of the property is essential and so is finding all facts regarding to the property such as area type (carpet, built-up, etc.)
Close the sale: While closing the sale find out about prices prevalent in the area so as to drive a good bargain during negotiations. Find out all you can about the title deed of the property. Pay relevant stamp duty and register the flat in the owner’s name.
Get a home loan: Loans are preferred by those who do not have enough capital to make an outright purchase. It is also preferred for its various tax breaks.