Buying your own home is a very tough decision. But one should not fret out because it has lot of benefits too. Buying a home means arranging huge amount of money for the down payment as well as planning for future monthly EMI Payment to repay to repay the credit amount. But finding a right home as per your preference is really a time consuming process. There are many ways to buy property for resident within budget nowadays.
You should have a proper analysis of your affordability before your final decision of buying your own house. This helps in determining your exact budget. Then only one can have an in-depth search in finding the best suitable property.
Why to have your own house?
- Increase in your asset list. Makes you stronger from financial point of view.
- Best investment for secured future as it’s values increases with time
- You can use or decorate your house as per your own choice. Now no permissions to be taken as it increases the value and beauty of your own house only
- It generates good returns in future
- One can get their own privacy
- Proud feeling as well as boosts confidence
- Tax deduction benefit
- More stable costs
- More control over nearby surroundings
- You can feel a sense of belongingness
- More attachment with own house
- No tension of shifting from one place to another in case of any issue with the landlord
- No interference of landlord any more
- No more answerable to the landlord questions
- Provides more stability
- Much suitable option from security point of view
There are some disadvantages too:
- It involves a long term financial commitment
- Lot of investment is required
- Managing finance is a tough task
- Costs involved like moving cost, legal fees etc
- Problems involved for the people in transferable jobs
While buying a house one must update himself with latest schemes going in the market.
Different ways to find a property:
- Through real estate agencies but must choose your agent very wisely
- Through internet advertisements as many websites are available nowadays
- Through advertisements in newspapers by the owner’s themselves as well as by various agents too
- Contact with many house building project holders as well as companies associated in the same business