7 essential tips to help you choose your ideal home

Home is where everything begins — dreams, hope and love. For any first-time buyer, it is a special investment. Homes last for a lifetime, so finding the right house calls for much deliberation and meticulous financial planning.

Shelter falls under the safety category as per Maslow’s hierarchy of needs, and like food, water and sleep, it is a survival pillar. When buying a home for the first time, several factors such as budget, finances, location, locality, infrastructure, connectivity, utilities, facilities and neighbourhood can influence your decision.

Choosing a home may not always be an easy task. Here’s a simple guide you can go by:

Purpose & Requirement - Be clear on the goal of purchasing a home. When you know why you are investing — whether for your family or to earn a monthly rental income — choosing the ideal home becomes easier. If you want to buy a house for yourself, you should think about things like the size of your family and the ages of your children. When renting, factors such as connectivity, location, and accessibility to facilities can all change.

Budget & Affordability - Make certain that the home you are purchasing will meet your current needs while remaining within your budget. The loan amount is determined by the bank based on your income and assets. Also, don't forget to include your home's annual taxes in your budget. When moving into a new home, you must consider all expenses such as groceries, gas, water, electricity, maintenance, and so on.

Location and accessibility can have a significant impact on the price and resale value of your home. Make sure the location you choose is a quiet residential area with a reliable public transportation system. Consider the distances to school or work, as well as the daily commute times.

Check to see if the neighbourhood has a good safety reputation and low crime rates. Choosing such areas may be more expensive, but it will provide peace of mind.

Rental rates and resale value - If you intend to rent out the home, make sure you have a good idea of the rental rates in the area and pick a good location. Overlooking the resale value of your home before purchasing will have an impact on the house's future sales price. When purchasing a home for the first time, consider the resale value as well as the location and budget.

Hospitals and schools - When searching for the ideal home, nearby healthcare facilities are an important consideration. Especially if you have young children or elderly relatives. It is prudent to consider locations near schools, colleges, or other educational institutions. You don't want your children to spend hours each day commuting.

Insurance and legalities - First-time home buyers should select a home insurance policy. The insurance provides varying levels of protection against damages or legal issues. It is critical to protect your financial future and make the purchasing process easier. Bring in a real estate professional or a lawyer to handle the due diligence. You don't want the stress of legal issues to detract from the joy of home ownership.

Finding the right house starts with focusing on your needs and then weighing your options. Because this will be one of your largest investments, you must exercise caution at all times. When buying a house, don't overlook the'must-haves' in the midst of the formalities and processes.

When making a home-buying decision, consider both internal and external factors. Internal factors related to the projects in which you are investing include RERA registration, builder reputation, layout efficiency, and unit specifications. External factors include conveniences such as location, accessibility, social and civic infrastructure, and your financial situation, such as loan eligibility.

For first-time homebuyers, Brigade Group offers 1.5, 2 & 3 BHK apartments that are easy to buy and ready to occupy. Brigade Group offers a wide range of high-quality investment opportunities in major Indian cities. Brigade Valencia