How to choose the best property according to your budget

June 7, 2019

Everyone deserves to live in a house that is if not exactly what they have dreamt of but then close enough to satisfy their needs. Homebuyers generally unleash their aspirations and exceed their budget instead of taking a practical approach while purchasing a property. Well sometimes turning your dreams into reality can cost you a fortune hence, your dream home becomes a financial nightmare.  However, there are many ways by which you can buy the best property and that too under your budget without sacrificing much of your desires.

Following are some tips that you can keep in mind while house hunting and before making your final decision:

Set a budget and stick to it

How much you can actually afford? Are you planning on a down payment or home loan? Have you finalised your savings and monthly expenditure? Knowing all of this is very necessary before setting your budget. So take out time and add up every source of income you receive each month and calculate your expenditure. This will give you an estimate of how much you can afford to spend. And the most important point is to stick to whatever your budget is.

Deal with your Realty Agent

Now the trickiest part is to communicate your budget clearly to the realty agent/broker. Generally, realty agents try to push the envelope and vouch for projects that are way out of your budget. Whereas a professional and decent broker always respects your words and show what comes under your budget, but not everyone is lucky. So, be steady and stick to your guns and if you still face difficulty then it’s time to change the broker.

Don’t Compare Yourself to Others

It is human behavior to envy other people. But it’s always better to keep this feeling away when it comes to buying a home/property. Every individual is different and so is their income level, therefore, no matter how big is your friend’s/relative’s home don’t compare with yours. Instead of getting lured by other’s big houses, think what will happen if you overspend and could not recover your hard earned money in the future. After all, you’re buying a home not a pair of shoes or a car.

Don’t compromise on connectivity and basic amenities

Due to sound development in terms of connectivity, the affordable property options have increased for the homebuyer. Therefore, sticking to your budget doesn’t mean that you’ll have to compromise on the location or look for your dream home miles away from the city. Also, amenities are another important aspect that should be on the top of your priority list and defines your comfort.

Buying a home is generally a onetime affair but it is not the only rule of the trade. You can purchase a property under your budget now & can always think of shifting to your dream home in the future with the savings of your monthly rentals & the growth in your future income.

Moti Residency II is one such project by Techman Group, situated in one of the most well-connected locations of NCR i.e. Raj Nagar Extension. The project is fully loaded with all the necessary amenities and yet affordable.