Advice For The First Time Home Buyers

One of the most significant event in an individual’s life is when they decide to go for their own dream-house. Whether one gets it self-design or it they buy it straight off the market, the feeling remains unmatched. There are some of the important aspects that one should consider, if they are going to be a first time home buyers. Some of these have been list down below for your ease.

Important tips

Decide your budget first:

First time home buyers should always stress to have a thorough plan before executing anything. Especially, if you are a first time buyer, evaluate your expenses in comparison to your earnings. The wiser course of action is to take into account that your money is wisely spend. All the things pertinent to getting one’s house construction must include budget. It is like setting up a limit to your spending. All the better, if the value you are seeking is attainable within the set amount.

Making the right decision:

Your budget is the guideline, that you should follow religiously. One wrong move, one hastily made decision could undo all your life’s hard-earned money. Make the right decisions after evaluating pros and cons of the options available to you. E.g: land to buy, where to buy, what could be the incurring construction cost, whether it would fall under the budget of first time home buyers etc.

Balance it out:

Do not day dream about the situation in financial aspect. First time buyers tend to believe going with the flow. It is not easy to keep up with construction cost as per the progress. It should be decided first hand. The fluctuation in market rates for construction materials could be less or more, depending on one’s economy. So do not overburden yourself so you don’t end up with more than you could chew.

Cost calculation:

It is always wise and should be the primary focus to calculate the cost for your construction as per your budget. A little room for additional miscellaneous should also be included in case of an emergency.

Affordability:

Once all the relevant details have been sorted through, cost of the project must be written in contrast to one’s budget. It should be easily accessible at any given time. Include thorough details about everything important in your point of view about your house-construction. Write down your requirements. See to it what you can or cannot afford. Try to find the backup for each item at least in case if something goes wrong with the former choice.

Emotional investment:

Be mindful about your choices because it is a very big leap of faith. One’s emotional investment is also involved. Peace of mind and contentment in one’s heart is very much important. Failure could take a toll on one’s mental health, so choose and plan accordingly. It is an extremely important milestone for a first time home buyer. The highs and lows are always off the chart. Be wise, considerate and smart with your choices.

Conduct market research:

It is an extremely crucial step. As per our humble opinion, this step should be followed before forming one’s budget. Find out what choices you have in the market as per your desired construction and what options to avail. What is easily accessible and what is not. Chart out all your plans accordingly. If a need for modification arises, do it before you take it to an expert.

Keep up with the market:

It is better to learn than being clueless. After all, it is going to be your home. Learn about all the micro details so you would know what to tell the team responsible for the project’s construction. The room for error gets eliminated. Most importantly, you won’t be misguided about the facts if you are well-informed. Follow various channels online for inspiration and information. Stay trendy! 

Word of mouth/ Testimonials:

Another important research is due, once budget is set. Choose the right person, for the right job. Learn about those who are specialized in construction. Shortlist their details along with their names. Compare the value generation via their portfolio. Read the testimonials. Find more about them via word of mouth. Engage and learn. After all, they will be a part of your journey. Know to whom you should be delegating such a big responsibility and whether they are competent enough to handle it.

In continuation to our former important tips for the first time home buyers, additional tips have been list down. It is important to consider all the significant aspects. One could easily forget to keep it in mind before making such a life altering decision. So we have more suggestions for the first time home buyers to achieve the maximum value.

Important tips:

Shortlisting process:

After the first time home buyers have made their decisions regarding the budget, next phase begins. It is the hunt for the right place to fulfill all the requirements that first time home buyers wish for. It is the most vital decision that one has to make. Think of it as the back bone of everything else to follow. First time home buyers need to ensure the place they shortlist has all the amenities available for future.

Comparison:

It’s in the first-time purchasers of homes best interest to shortlist the societies they wish to pursue. After the desired areas have been counted, compare the pro’s and con of each. Priorities them according to the benefit’s it has to offer. Also, keep in mind the allocated budget and whether first time home buyers would be able to afford the cost of living in desired area. Farsightedness is one’s best friend in this regard.

Society by-laws:

Be well versed in the by-laws of the societies one has selected for future house construction. It’s not every day that one can change their mind as well as their stance on this phase. Always think through and research better. Learn what laws and formalities one is expected to abide by being the resident of that particular society.

Visit multiple sources:

It’s in the best interest of the first time home buyers to visit multiple number of sources in person to verify the pros and con of the selected area. It could either be via the office of the said society, asking relevant questions on various social media society groups, talking to residents, reading the reviews on internet and seeking answers by any means. All this effort would save the home buyers from any future inconvenience.

Security:

Property or construction at the cost of one’s security isn’t worth it. For the first time home buyers, it’s even more sensitive. It’s one of the basic need for human beings to feel safe and protected especially in the place they choose to call “home”. first-time purchasers of properties need to ensure the safety that matters in every aspect be it financial, mental, physical, emotional or otherwise.

Choosing an expert:

Make the right call by choosing the expert in the field. After the budget allocation and location is final, its best to visit the experts in the given field. One’s market research help in shortlisting the right experts as well. Visit the ones you have a good feeling about. Go with your gut after you have had in person meeting with them. Their input about your choice should help you eliminate any doubts and ambiguities.

Practicality:

Once the first time home buyers have made the decision about the expert they want to hire, next plan falls into place. They need to discuss the practicality of their project with the field expert. It should cover essential points from drawings to elevation to all things that can or cannot be done as per the budget. All things should be transparent on both sides. It’s extremely important to choose wisely.

Demo:

It should also be taken into consideration by the first time buyers to visit the on-going projects of their selected team of experts. It’s an additional point for you before everything is formally

Final Discussion:

Once the first time home buyers have decided to go with their chosen field-expert, it’s time to have a final discussion with them. This discussion must include all the due answers and cover the ambiguities. First time home buyers should be very vocal about the value they would be getting against their hard-earned money and their expectations so no doubt remains on both sides.

Package deal:

First time home buyers should be able to get the transparency from their chosen field expert about what things would be added or subtracted. It should be crystal clear on both ends about what would be the cost of the package that the first time home buyers are attaining for the services. Whether there are any additional charges or hidden cost. Read More…

Project Timeline:

First time home buyers should also discuss about the timeline for their future house construction. Also, if any unexpected delay arises in the future, what is to be done about such emergencies. If there’s anything the first-time home buyers want to install in their future house, the unavailability of it affects the project timeline. What other backups exist to address that problem.

Construction Purpose:

Make the purpose of the construction project clear to the project handler for the first-time home buyers. Whether its for rent out, residential or commercial purpose. So that we can conduct the construction keeping the final aim in mind. The pace could also be then decided depending on its initial purpose as some tend to make the homes for future investment point of view only.

Quality:

The quality of the construction should be considered thoroughly. The first time home buyers should only proceed with the selected option if they find the demo by the field expert up-to-mark. No matter the purpose of the project, the quality is something that should never deteriorate. It not only put someone at risk financially but could also be fatal for those around, in case of poor quality material usage. Accidents may occur and lives could be lost.

Formal agreement:

The first time home buyers should chart up a formal agreement with their selected field expert. Everything should be covered in a full fledge agreement. No clause should be left so that there are no issues in the future that could lead to potential backfires. For such a big amount, it’s important for the first time buyers to have everything documented properly and get it legally bind.

Project Up-turn:

If, for some reason, the first-time home buyers decide to transform it into a business deal, they should clearly articulate the upturn. First Time Home Purchasers and the field expert should agree upon it mutually. The said deal should be clear as a day in written, oral and any other required form to avoid any future problems.

Site supervision:

First time home buyers should let the professional handle the construction project. However, it still doesn’t mean that it absolves the new home buyers of their responsibilities. They should visit the project site in-person every now and then to ensure that the word given by the
Is the project expert fulfilling their role or not. To mark the progress and to tackle any issue at hand, incase if any occurs.

Camera installation:

Another feasible option for the overseas first time home buyers could be installation of camera at the project site. It can be done for the locals as well. It would help them to stay in the loop but also to keep up with the project progress. In case of any changes in the plan, it’s also
suggested that staying up to date would help first time purchasers of homes to make decisions accordingly. This way, we eliminate much room for surprises or errors.

We at Highland Properties & Constructions keep all these important points into consideration for all our clients. Not only that, we embed all these practices in our day to day conduct as per our project’s requirements.
In order to ensure maximum value for our clients, we are just one click away. You may contact us at our respective numbers or via social media handles, schedule an in-person meeting with us, visit our on-going project sites with us and check the quality of our services by yourself. Because helping you choose wisely is our first and foremost duty.