Are you on a tight budget? Are you questioning your decision to buy property? Are you stepping back from buying a property because you do not possess a hefty amount?
A friend of mine, Ajay Sharma, took steps back from his decision to buy a property because he had a tight budget. He thought that saving and buying his dream property later would be the ideal decision. Well, he regretted that decision. On several accounts he felt like going back and turning the hands of the clock.
Do not make the same mistake as that of Ajay Sharma. You can make a smart choice. You can choose affordable properties which will have everything you need or require and also want.
Know your Budget.
Before you embark on the journey to find your perfect property, know what you are comfortable to pay. Your budget should include external expenses which are there even after buying a house.
Have your non negotiable checklist
You should have your own list of non negotiations. There are certain features you would really need in your house. These may include
- A double bedroom
- A guest room
- Big or small windows as and how you like
- A back door and an extra entrance or exit if you want so
- A garage
- A balcony
- Security system
Your list of non negotiables would depend upon you. You know what are certain features without which you cannot think of a home. Write those down.
Invest in modest properties
Rather than spending an exorbitant amount in huge properties make the choice of investing in small properties. Make the right decision for yourself.
Try Finding a house in an affordable locality
If you are going to stretch your budget trying to find a house in an upscale affluent locality you are likely to regret it. Make a logical decision. Make the decision of buying a house at an affordable location which has better transport and communication facilities.
Do not be consumed by emotions
Everytime you visit a house you may be consumed by emotions and get attached to it. It will be difficult for you if you are easily attached to properties. Do not let your emotions make the decision for you.
Speak to your real estate agent
It is extremely important that you speak to your real estate agent about your budget. Ask your agent to adhere to your budget and show you affordable projects.
Fret not, there are plenty of options in the market. You can invest in a house now. Your house is your most tangible investment.