Planning to Buy a House this Year? Here are some Easy Steps

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Planning to Buy a House this Year? Here are some
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?January 18, 2018 ?Real Estate ?india property
blog, india property website blog, Planning to
Buy a House this Year, property blog, property
blogs in india, property website blog, Real
estate blog, real estate property blog, real
estate property website blog, real estate website
blog ?Srishti Chandola
Like 0 Buying the first home is, of course, a
dream for everyone. Understandably one gets the
freedom to decorate, having bigger rooms and
other living spaces, etc. Switching from one
house to another is stressful. But one move to
ones own house, then feeling is
exhilarating. Especially for the first time home
buyer, buying a house is the most significant
investment. Many pride and associated with it.
Numerous questions come up in mind and at times
the process lands the home buyers in the panic
state. Thus, here are some easy steps which will
help the first time home buyers to get the home
in a year. This 12-month timeline will
definitely help in solving queries such as
getting stuck or interest rate with the wrong
house First three months Begin with the
checking the credit score- the credit score used
to play a decisive role in buying a house.
CIBIL, in India, provides complete details of the
credit score. Thus, it is important to check the
score longer before one is ready to make the
offer. Also, work diligently on it. Determine
what the pocket allows- figure out how many loans
will get but at times some of the lenders make
one fool in providing the loan and will land in
great trouble. Ask how much house does one
really want to afford?
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Make the down payment and EMI calculator plan-
plenty of EMI calculators are present on the
internet. This will help to determine what you
actually can afford. If you plan to push the
limits, begin reducing the debt-to-income ratio
now. Next three months Make a clear checklist
of what one really wants in the house- now that
most important part is that home near to the
workplace? Whether it has bigger balconies? How
bigger are kitchen and rooms? What is floor plan
etc.? If one focus on the priorities then can
purchase a better home. Research neighborhood-
here, the property listing sites comes into use.
These websites would help in finding the
neighborhood areas, closeness to markets, public
transport, etc. Make the budget for the home
buying expenses- buying the home has some of the
miscellaneous upfront costs such as title
search, home inspection, home insurance, and
property survey, etc. Costs of these expenses
vary from one location to another location. So
begun saving now. The next five months Begin
collecting the loan requirements- loan paperwork
plays a vital role in the complete home buying
process as well as banks are popular about it.
Thus, write all papers one need and make the
checklist. All papers are ready to tick on the
checklist. Begin looking the correct realtors-
begin interviewing especially buyers agents as
these will help in finding the best as well as
the right property. Get pre-approved for a loan-
at this point, one has been following the
timeline, down payment, paperwork, down payment
and credit score should be on track. You have
done the research on the buyers and lenders
agents. Now it is time to begin working with them.
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So, begin with the loan getting pre-approved.
Make the appointment with the loan bankers as
well as bring in all the paperwork. They will
check all papers as well as begin the procedure
of the loan approval. Begin shopping for your
house- once the loan gets pre-approved, the
agents will begin telling about the budget home
which falls in the rate range. It generally takes
least four or six weeks to finalize the home as
it needs some proper inspection. Crucial last
month Triple-check- all the financial documents
are in place and the review all loan related to
documents before closing. Get home insured- do
not forget to secure the insurance before closing
as well as keeping all the documents in the
file. Final walk-through- make a final visit to
the house. Check condition of selected homes. Has
all basic work is done or not? A regular check
will help in avoiding last minute panic
situations. With these easy steps, the house is
just a year away from the hand.
? Things to do after Getting your Home Possession
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