Keep Future in Mind While Buying a House
Jun 25, 2019 Real Estate News
It is no secret that when looking for the right property to invest in, our present financial and requirements matter the most. When we plan on buying a house, financial capability is the primary factor that influences our decision. Even though the banks and financial institutions help in paying 80 percent of the amount of the property, the remaining 20 percent has to be paid by the buyer from their pocket. In such a case, making sure that the buyer has enough funds to pay the down payment and registration fees is essential.
In the excitement of buying the house, we often forget the future needs. As you progress in life, your needs will change, and so will your requirements. When purchasing the home, you might think that investing in a place that has the best nightlife is a good idea. But in a few years, it can turn out to be a bad investment. You will have a family of your own and safety, and security of your family will be of prime importance.
Consider this; you bought a house that does not have an elevator or lift facility, thinking taking stairs will help you in keeping in shape, is not a good idea when keeping future in mind. Your old parents will not be willing to climb the stairs all the time due to health issues and such times; your investment can turn out to be a bad one.
Investing in a 1BHK is a good option for the present but future, it will not be able to fir your family as it grows, you will eventually have to move out to a bigger house.
As you climb the ladders of success, your income increases too. One must keep in mind that they will be earning more in future and hence investing in a bit costlier property that meets the requirements of tomorrow as well, is a good idea.
Even if you are not eligible to purchase a particular property right now, due to financial constraints, it is better to wait, save more money and then invest in the right property. It is not wise to look for the property that only serves the present purpose and does not help in helping in future. Sure the property that you are willing to buy now is small and fits your current financial condition perfectly, but give a thought whether the property will furnish all your future requirements or not. If not, then it is better to wait a few years and buy the right property.
In the excitement of buying the house, we often forget the future needs. As you progress in life, your needs will change, and so will your requirements. When purchasing the home, you might think that investing in a place that has the best nightlife is a good idea. But in a few years, it can turn out to be a bad investment. You will have a family of your own and safety, and security of your family will be of prime importance.
Consider this; you bought a house that does not have an elevator or lift facility, thinking taking stairs will help you in keeping in shape, is not a good idea when keeping future in mind. Your old parents will not be willing to climb the stairs all the time due to health issues and such times; your investment can turn out to be a bad one.
Investing in a 1BHK is a good option for the present but future, it will not be able to fir your family as it grows, you will eventually have to move out to a bigger house.
As you climb the ladders of success, your income increases too. One must keep in mind that they will be earning more in future and hence investing in a bit costlier property that meets the requirements of tomorrow as well, is a good idea.
Even if you are not eligible to purchase a particular property right now, due to financial constraints, it is better to wait, save more money and then invest in the right property. It is not wise to look for the property that only serves the present purpose and does not help in helping in future. Sure the property that you are willing to buy now is small and fits your current financial condition perfectly, but give a thought whether the property will furnish all your future requirements or not. If not, then it is better to wait a few years and buy the right property.
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