Benefits of Buying Home

Though owning a home is everyone’s dream, buying your own home is a huge financial responsibility for everyone involving a lot of pressure and doubts. However, if one educates oneself before buying a house and takes help of professionals, buying a home can prove to be a very beneficial action.

So even if you have some doubts, Girish Navnath Avhad hereby presents you with a list of benefits of buying your own home that will clear all your doubts in a second.

• Buying your own home can provide you with the greatest financial security. Instead of paying off your rent every month and not getting anything out of it at the end of day, you can actually own a home with that money. A great sense of independence can be achieved with your own house.
• Monthly input of money in housing is stable unlike renting. For your monthly payments are of fixed amount unlike your rent, which increases with the time and change of place.
• Buying your own home is a solid financial investment for it provides steady returns which are unaffected by erratic movements in the stock market. Therefore, by investing your money in a house instead of stock market, you can ensure safe and steady returns on your investment.
• Buying your own home enables you to generate more savings for the value of real estate increases rapidly and constantly for the growth of your value’s property exceeds your ability to save. The percentage of increment in a savings bank accounts is definitely lesser than the increment of your property’s value.
• Buying your own home is also beneficial in terms of building equity. Equity is the amount of which you can sell your house for minus the amount you still owe to it. Your monthly payments or EMIs deducts the amount of what you owe which consequently raises your equity.
• Buying your own home is a great long term investment for your house can make up for a good rental property in future. In this way, you can your house as source of second or first income during old age.

Girish Avhad is a well-known real estate agent and self-made entrepreneur who with his hard work and dedication became the most renowned businessmen in India.

know-how of house purchasing

The process of buying a new home can be overwhelming for most people as purchasing a home is probably the biggest financial decision of anyone’s life. However educating yourself about the essential know-how of house purchasing and the consultation of professionals can lower the risk rate involved in the purchasing of house.

With the experience of decades, Girish Avhad hereby presents you with 10 steps to buying a house:

1. Find Out the Benefits of Investing in a House 

You should try to find out the benefits of investing in a house if you are a first time buyer or already owns a house. Buying property is usually a good investment option than saving it in a bank account. However, if you are already running low on money, then buying a house might not be in your best interest. 

2. Review Your Financial Health

Investing in a property, demands a large sum of money whether you pay for it all at once or in installments. Determine how much price you can pay. Look at your income, amount of savings and how much is left over in your savings and investment accounts that could go toward a down payment.

3. Decide a Budget

After you have thoroughly reviewed your financial health, you can now make an informed decision about your budget. Setting a budget beforehand can help you to check yourself later from wasting your time.

4. Find the Right Real Estate Agent for You

A good real estate agent can provide you with helpful information about the available houses, current price in market and what constitutes a good deal.

5. Decide on a Vicinity
   

Deciding the vicinity where you want to buy a house is one of the major decisive factors in the selection of a house. Try to find out about the areas you are interested in. find out the distance of those areas to your office, and the time and money that would go in commuting.

6. Start Visiting Houses

Once you have decided one or more areas, start visiting available houses. When you visit houses make note of their price, check out the little details and evaluate the neighborhoods.

7. Decide on a House

Decide the house you are interested in considering the notes you made while visiting them. You can revisit one or more shortlisted houses to reconsider your choice.

8. Get a Home Inspection

Your real estate agent can arrange for an inspection after you decide a house and your offer is accepted by the seller. The inspection gives you a chance to renegotiate or withdraw your offer without penalty if the inspection reveals real damage.

You can ask the seller to fix the house and later check if the agreed upon repairs have been made satisfactorily or not before closing the sale.

9. Choose Your Loan

If you are planning to buy a house on loan, you can consult various bakers about the best loan program that would suit you based on your income and savings.

10. Complete the Paperwork

The last step in buying a house involves majorly paperwork. It is generally taken care of by real estate agents. Once you have established the terms and signed all the papers, you can happily move into your new home.

Girish Navnath Avhad is a Pune based self-made entrepreneur who with his remarkable skills in management and business has created a niche for itself in the business landscape in India.