Blog Details.
Author : Affifa Mujahid
About Blog
Introduction
For the majority of us, our home is the most valuable asset we will ever purchase in our lifetime. We do get swept up in the image of the home we want, which is far from treating our homes as dispassionate investments. The perfect patio for entertaining, the perfect master bathroom, the perfect kitchen. Our homes reflect status symbols _ and usually exhaust us in the process of finding one.
Sadly, the sacrifices don’t become obvious until after promptly signing on the dotted line. According to a 2021 study by Bankrate, nearly two-thirds (64%) of millennial homebuyers report buyer’s remorse after purchasing. Whenever you buy your own property, don’t join their ranks.
How to find a perfect home within your budget
Rather than being in a hurry to buy, keep a cool head with your long-term financial goals firmly in mind. By following these simple steps, stay within your budget.
01 Consider Moving to a Less Expensive Market
Pakistanis are not as adventurous as they like to pretend. According to a recent survey, more than half of Pakistanis live in or near the city they grow up in. You don’t need to live there, even if you never really questioned it before. Get more enthusiastic about exactly how and where you want to live.
02 Know Your Upper Limit.
Your bank determines how much they are agreed to risk lending to you, whenever you get preapproved for a loan. List down all the basic features you are looking for in a home. Think of how many bathrooms and bedrooms you want and the storage space you need. According to their importance, list these features. Remember that with every extra feature, such as a luxurious fitting, a walk-in closet, it is likely to increase the cost of a house.
03 Always hire a Real Estate agent.
Always hire a real estate agent. Every city has authorized agents who specialize in assisting home buyers. In your price range, a buyer’s agent can give you up-to-date information. All the real estate agents are paid by the sellers, so, these services are free to home buyers. In order to represent you, you may need to sign a legal contract.
04 Do your homework.
Visit your most sought after neighborhoods. You should look out for newly listed properties by regularly driving into neighborhoods and the areas close to your workplace or school. You may find reasonable properties that have not been advertised but maybe priced below their market value. Note down their contact numbers and make a call right away.
05 Conclusion.
While you are on the search for your new home, keep these tips in mind. Be prepared to let some things slide as it is important to stay focused and practical. Let yourself see the true potential in a property so that you can transform it into your vision. Also keep in mind if you plan on living there short-term or for the rest of your life with your family. Happy searching!
