One of the common perceptions that we hear about millennials is that they don’t settle down easily. But, how far is it true? Turns out, not so much! According to a recent report by the Joint Centre for Housing Studies of Harvard University, the number of people in their 30’s who would own a home will increase by 2.7 million over the next decade. Additionally, about 60% of first-time homebuyers are millennials. If this is not enough, a 2018 Bank of America Survey states that more than 72% of millennials consider buying a home as their top priority. If you are aspiring to be in one of those demographics, there are some things to keep in mind before making a decision. We have compiled a list for you to check before you zero on your dream flats in Bangalore. To know what they are, read on!
Get realistic with your budget
It is a no-brainer that your budget is what you should first look into before house hunting. After all, you wouldn’t want to fall in love with a house that you can’t afford or miss out on the perfect house because you were unsure of how much you can spare. Try and budget your income versus expenses. Settle on two amounts; one that you would be comfortable spending monthly and another that is the maximum that you can spare.
You can modify the interiors, add in some amenities but the one thing that you cannot change is the location. This is why you should focus on the location and check the infrastructure. Things like proximity to your workplace, your child’s schools, groceries and pharmacies matter a lot and infrastructural amenities like the metro help to push up the investment value higher up. This is one of the reasons that apartments for sale in Bangalore have seen a surge in demand.
Stop focussing on the small stuff
Often, many of us nitpick too much on the small stuff and end up losing a good deal. This is not what you want. Don’t let a torn piece of wallpaper decide your purchase and try to focus on the bigger things like location and if the house is structurally sound.
Prioritize your absolute-haves
While growing up, most of us may have dreamt of having varied amenities in our dream flats in Bangalore. It could have been a private garden or a theatre room. Prioritization is the key when it comes to homebuying. Group your priorities into two categories; one which is nice-to-have amenities and the others that are absolute-must-haves. This would help in narrowing your choices much easier.
Target for Resale Value
Your first flats in electronic city Bangalore may not always be the home that you live in till the time you are old. This is why you should try to find a home that you will not just love but would appeal to others as well. Hence always take factors like location, infrastructure and reputation of the builder into consideration.