3 Steps of Home Buying Journey.

As someone rightly quoted “The best time to buy a house is five years ago” and that happens most of the time. It’s not easy and most of the time we end up going around deciding “Let’s buy a home” to actually “Purchase a house.”

Before we even begin think through this –

Are you?

1. Ready to purchase a house?
2. An optimal candidate? (Cibil/Credit/Debts)

Have You?

3. Thought through budget?
4. Research on Locality & Projects.

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For most of us buying a house isn’t a spot decision, it takes time and effort to conclude upon what to buy, Where to buy & How to buy. This isn’t an easy task but can be fun if done methodically and with the right approach.

A home buying journey is categorized into three phases:

1. Explore
2. Enquire
3. Decide

EXPLORE : “Start your property expedition.”

Most of your thinking and research goes into this phase as the thought itself gives you a punch as good as a trip to the moon. At this stage, most of the thoughts are still open and need answering. Even before you start you explore journey you are stuck with Delima of if to buy or rent? Isn’t it?

– Are you looking to buy for self-use or Smart Investmentment is on the card?
– Which city you prefer to buy?
– How to compare localities and Projects?

What to buy and where is buy keeping budget intact is always at the back of your mind. The need for smart locality search and may be comparing them based on locality ranking and rating can come handy and adds to your buying decision too. Comparing localities also give you bird’s eye view of price trends.

ENQUIRE : “Get the best property advice.”

By now you have an idea about which locality to buy in, shortlisted projects and a clue about current price and if that suits your budget too. It’s time to move to enquire phase and it’s critical as this is the stage where you are looking for answers to:

– Whether I am eligible for loan?
– How can I get financial advice I need?
– Can I get to know more about Rates & Trends of shortlisted locality?

These answers are important and needs a closure before you jump to next phase.

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DECIDE : “Find additional things that matters.”

Once you have made up your mind regarding what to buy and where to buy, it’s time to authenticate your findings and make an apt decision. There are research reports, buying guides and real estate forum for social engagements which can furthermore concrete your buying decision.

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It’s not easy to conclude and nail down to a property of your choice but there are Tools, News and Experts Advice available online and referring them can ease your home buying journey. For most of us, this isn’t just an investment but emotional investment which has long run implications too.

Thank you for making it to the bottom of this post. If you find my ideas interesting do follow me on twitter @bornindian & visit my linkedin page.

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