First Time Home Buyer FAQ

Buying a home for the first time is never an easy nut to crack as it involves a trail of emotions and feelings. I am sure that you must be bombarded with several questions which makes it uneasy to think through and choose what is right for you and this involves numerous doubts and clarifications.

That being said, We are here with our home buyers guide or home buying tips based on the questions which are asked frequently when it comes to real estate and purchases of the same.

Below are the top 9 FAQs by first time home buyers.

Frequently Asked Questions By First-Time Home Buyers (FAQs) :

1. What is a good budget for a house?

Normally, the best budgeting of housing involves a variety of open-ended costs that include the owner’s insurance, property tax, repair expenses, and maintenance costs in case of buying the property, and renting involves a different set of expenses like the Basic Rent, Miscellaneous expenses, etc. The expenses differ based on the idea of choosing a rental or your own property. You need to be firm with your budget for your home and not go beyond your limit of affording the property.

For first-time home buyers, house budgeting will be one of the primary terms that they will be fond of. Making this one of the most frequently asked questions by first-time home buyers.

2. How important is location when buying a house?

In terms of buying a house, you need to select the area that keeps in mind its future scope and development which will surely have a strong demand in real estate pricing. Location surely plays an important role when you choose to buy or rent an apartment. Looking for convenience in terms of a lively neighborhood surrounded by Schools, Hospitals, and basic requirement-meeting stores this will add value to your home. Good neighbourhood, The Age of the home normally determines its future value.

Yet another frequently asked question by first time home buyers. Is location important while important while buying a house? Yes..! Location plays a fascinating role when it comes to buying a house.

3. Do I really require a broker while choosing a house?

Brokers for houses normally give you an idea of your dream property with all the required information for your convenient stay at the property that you are looking for. Instead of Brokers, A dedicated professional would surely know the best for you from search to settle, he or she will guide you with the best way possible for a sooner occupation of home. They can suggest you better choices for your convenience and can avail services 24/7 with a personality you can relate to.

4. Will the property significantly be designed as per Vaastu?

Vaastu in Indian tradition is said to play a major role in balancing the elements of nature to attain peace and prosperity. Generally, every house follows a certain basic vastu for home. That being said, Houses that are designed as per Vaastu are said to have the most lively vibe and pave the way for happiness in our lives. vastu tips for home always influence every single aspect of your living. Hence, Vaastu Shastra is a set of thumb rules that ensures better living. In order to give more importance to our culture and positive energy. most of the properties at Homes247 are designed as per the Vaastu. If you are a first time home buyer then Vaastu tips for the home is something you should look forward to! Still unsure of what you should consider while buying a home? you can visit our website to learn more about First-time home buyer tips.

If you want to get benefits from the government side, then you should know about the EWS and how to get an Economically Weaker Section (EWS) certificate.

5. How to ascertain the construction quality of a property?

Making it possible for your house to look like a home requires numerous balances in the quality parameters which ensures high-quality construction to make it look newly constructed even after many years. It would be great if you made a surprise visit to the property you are interested in so that you get a real picture of what it looks like and whether you have to go ahead with your decision or not. Factors like thick walls, surface, high-quality interior and exterior, structural design, etc. need to be observed with special attention to get the best deal on construction quality. When it comes to asking questions, one of the frequently asked questions by home buyers is about the construction quality...!

6. How comfortable is independent living for senior citizens?

We understand the requirement of having a golden experience at the peak of your life which independent living for senior have been designed as per the comforts and requirements of an ageing person. These are also called Retirement homes today! These Retirement homes are essential to today's modern family era which is built on a large scale as most of the population are moving towards Retirement. These friendly apartments are constructed keeping in mind the comfort levels of a senior citizen couple to lead a hassle-free life,

• Basic amenities like clinics, grocery stores, and other emergency services and high security within the community.

• A Safe, Green, and Peaceful environment.

• Inbuilt Health centres have Yoga, Meditation, etc in them.

• The flooring in such apartments is non-slip and grip-oriented Well Ventilated Houses.

7. What are the mandatory papers we have to collect from the Seller/Broker?

Buying a property comes with a huge investment and that being said, the level of seriousness in terms of every single thing is mandatory as it could even be an investment for a lifetime! Here are the legal documents you need to collect without fail before occupying the property.

• Individual Khata: This is an account that allows the owner to sell and transfer the property and to identify the legal owner of the property. This includes Khata Certificate and Khata extract, and in this, we have types like,

  • A khata: To certify that the property meets all the regulations of tax and legal etc.

  • B khata: Related to pending taxation and violation of laws etc.

  • E khata: This is an electronic form of khata that allows owners to pay taxes online.

• Title Deed: it is also called a sales deed, This is a deed for transfer of the ownership.

• NOC: It is a no-objection certificate. These are the papers we need to collect from major government-aided departments like electricity, water, fire, safety and more such departments

• Tax receipts: collecting receipts of at least 3 years will help in ascertaining that there are no dues on the property that you are willing to own.

I would rather say that the best and the easiest way to ensure that the documentation is trustworthy is to get into a bank and issue the paper to them as they will surely discover a loophole that you can work out.

8. What type of property should I buy?

Real estate is a growing business as the need for housing and commercializing is never-ending and properties differ based on your requirement. Before you can buy a property you need to be sure of why you need to invest in it and how will it benefit you. Among the types of property available in the market you need to select your preference which will benefit you in the long run. Real estate generally sells lower than its listing price. However, you need to compare among many properties and select what is right for you.

9. How secure is the home I will be buying? Will I get any eco-friendly and pet-friendly apartments?

More than buying a house, you should always decide on choosing a secure home is one of the most serious decisions you make in life. Many businesses in this field could claim safety and security but the actual meaning of such claims is that there is both self-safety and assets safety. When we talk about gated communities, no matter what they facilitate, they generally ensure the safety of an individual and their belongings and from future perspectives, you can claim to have a strong source. Apartments mostly are pet-friendly and they also have an inbuilt park above all in cities like Bangalore the infrastructure is normally surrounded by lots of greenery like trees, plants, etc.

Click here to access the best tips for pet-friendly housing.

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