Acquiring a home – sweet home or rather building one has always been on top of the list of ambitions for every Indian. The beginning of the 21st century has witnessed significant growth in this trend with an increased supply of disposable income in the hands of young Indians.Buying a house is almost like marriage. It costs money and time, is forever and you have to live with the choice you made whether you like it or not. For someone who is taking the plunge, there are a whole lot of ‘things-to-do’ before you sign the final agreement.

2. Buying a house is almost like marriage. It
costs money and time, is forever and you
have to live with the choice you made
whether you like it or not

3. For someone who is taking the
plunge, there are a whole lot of
‘things-to-do’ before you sign the
final agreement

4. Plan ahead
Start building up a good savings balance once you
plan on buying a house . Ensure you keep your credit
record clean to avail hassle loans from a bank.
#1

5. Research the market for the best deals that you can afford.
Ensure you check on how much loan you can avail from the
bank . Calculate how many monthly instalments you will be
paying and include the moving costs in the expenses.
#2 Budget your wants

6. Choose your location carefully. If you plan to start a family,
choose a house near a school or playground.
#3 Choose your
location carefully

7. Before you confirm your decision, survey the neighbourhood
about the prices of property, discuss with real estate agents
and go through local newspapers about property rates.
#4 Survey the
Neighbourhood

8. Even though you are planning to stay in the house forever,
survey the resale value of the property. If you change your
mind later, you can always sell off the house if the resale
value if high.
#5 Check the
resale value

10. It is essential that you choose the right loan for your house.
Discuss the possibility with various banks. Make sure you get
the best interest rates.
#6 Choose the right
Home loan

11. Once you have all the papers in order, offer your price to
the real estate agent. If he doesn’t agree, increase the
money but it should fit in your budget.
#7 Negotiate for the
best price

12. Decide if you want to go for basic or special coverage.
Home Insurance is an important aspect of home-buying, so
don’t ignore it.
#8 Get a home
insurance

13. Get the contract checked by an expert. Include
contingency clauses in it so in case there are structural
damages, faulty systems or if the property doesn’t live up to
its price, you can renegotiate the price.
#9
Get the home
contract checked

14. Look for faults in the stairs, exterior walls, roof, doors, windows,
cabinets. Inspect electrical components, flooring and
countertops.
#10 Do a final
inspection

15. Insure your property and ensure you get best from insuring
your property against fire, theft, and damage made by
tenant or from other natural calamities.
Have you insured your
property?
#9
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16. Moving into your house will cost you money. Negotiate with
various parties involved for the best deals.
#11 Calculate the
moving costs

17. Ensure you budget home setup costs as buying utilities and
other odds and ends will eat into your budget.
#12 Calculate the
costs to set up

18. The home will need repairs on the outside. Decide on the
most essential ones and deal with the rest later.
#13
Check for repairs
outside

19. Invest in a good set of tools to save on fix-ups, repairs and
emergencies.
#14 Buy a good
tool kit

20. Change the old locks that come with the house. You may
never know how many people may have keys to your house,
if you continue with the old locks.
#15 Change the
old locks

21. Have you insured your
property?
#9

22. Invest in a good fire and burglar alarm. This will bring down
the cost of home insurance as well.
#16 Make your home
fire & burglar-proof

23. You don’t have to buy everything new since you are moving
to a new house. Buy only what is needed.
#17 Don’t buy
everything new

24. Ensure you avoid renovating the house right after moving,
which increases your expenses.
#18 Don’t renovate as
soon as you move

25. You will need to invest in good furniture whether outdoors or
indoors for your home. Account for this expense as well.
#19
Invest in good
furniture

26. Don’t claim needlessly on your home insurance. This will
increase your premiums when you renew. One can save
almost 20% on premiums by not making claims in the past.
#20
Unnecessarily don’t
claim home
Insurance

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