In the 21st century, Indian women contributing equally to the decision-making process and taking leading positions in every field, it is not uncommon to find them buying their personal houses. Today’s independent women believe in buying her first home as soon as she starts earning, instead of waiting to fall in love, get married, and have children to prove that she deserve her own place.
With rising number of single women professionals getting job opportunities in metro cities, the number of women home buyers is growing at a fast pace. Interestingly, a lot of women are now buying property for investment purpose too. It is observed that there are some very evident differences in the process women and men go about property buying. At the time of buying a home, men might consider the space of the home to be a deciding factor, whereas women think about furnishing, aesthetics, paint, flooring, and efficient storage spaces etc.
So, If you are embarking on the process of finding a sweet home, we have listed some useful tips for you..
The first step is, of course, to determine your budget. Before you zero down on locality and property, know your financial stability and set the down payment amount and EMIs. Make sure that your monthly EMI should vary between 30-35 per cent of your monthly income.
Here are the few important questions that you should ask yourself before sealing the deal.
Are you buying for accommodation purpose or for investment purpose?
How much amount you have in your hand to invest in a home?
Ask yourself about the other major investment planned for the future?
Answering these questions will help you to determine your budget and make your process simpler.
2. Costs are not always visible
Don’t forget that the cost of the home is always more than just numbers that show. Before finalizing the deal, you need to consider other additional costs which include maintenance, utilities and other related property taxes.
3. Seek right professional advice
To make right and fair decision, one of the best choices you can hire a reliable real estate agent. But, before hiring any agent research well and consult with your friends and family members.
An agent will resolve all your doubts about a property, as well as make the whole process much more smooth and understandable for you.
Location plays a vital role if you are women. After shortlisting of properties, go for a site visit to check out the neighbourhood. Move around the area and speak to people who reside nearby as this will help you to get more details about the locality. Safety, ease of access to all social amenities and workplaces will definitely play a role in determining the locality in which you buy your dream home.
Buying and setting up a home is hard work for anyone, but especially so if you are a single women in a new city. However, taking it one step at a time and good research ensures that you make a purchase which is not only a good investment but an asset for a lifetime!