Imagine you are the lead in a beautiful montage and by the end of the song, you are a proud homeowner – everything sorted, in just under 4 minutes. How wonderful would it be, right?
Alas, real life is not that quick! But that doesn’t mean it’s hard for women to own homes. All we need is a little bit of education on some big scary hairy topics (believe us! they are not as complex as they are marketed to be!)
For most first home-buyers, the journey is quite exhausting. Even before you begin the actual process of buying, there are a series of things that you need to take care of. The finance, the law, the pages after pages of agreements- but the most important thing of all to buy your own home is the dream.
Every homeowner has a road map and learning that they go through. They need to understand
- The finances
- The taxes
- The asset value
- The long-term investment
Start your home-buying journey by dreaming of the perfect home and the strongest will to make that dream come true. If you ever feel that you need guidance or someone to hold your hand throughout the process of homebuying, you have Her Highnest.
Here are some of the most important home-buying advice for everyone, especially women
Before starting the actual process of home-buying, note down the ‘why’- the reason why you are buying the house. Once you gain crystal clear clarity about the ‘why’, proceed to ‘how’.
Here are some of the why’s and how’s and pieces of advice for each of them
If your ‘why’ is having peace of mind
Living on rent calls for regular cash flow to pay the rent. You might be paying EMIs but when you own your home, you have privacy and you gain freedom. You are free from the restrictions set up by the landlord. The most important thing is that you own an asset by paying EMIs every month.
If you want to buy your own home to avoid paying rent every month, you can start small.
How?
Step 1- Set realistic financial goals and start saving every penny you can! If you don’t need to travel to an office everyday then look for houses in the outskirts that have huge potential for future development.
If you are an independent woman looking for a space of your own, you can always reach us at pradnya@herhighnest.com.
Step 2- Know your credit score online before you apply for a home loan.
Step 3- Keep in mind that there can be additional charges such as GST, registration, stamp duty, brokerage, furnishing, costs of borrowing and more. Prepare your budget accordingly.
Additionally, never take any hasty decisions when it comes to home buying. Be resistant to impulsive sales pitches. Brokers, agencies and companies can lure you with too-good-to-be true offers. Always, remember the offers are made only to push you to buy. For something as important as home, trust your own homework and research more than any flashy sales poster.
If your ‘why’ is to buy a home as an investment
Home is one of the most important appreciating assets. If you want to buy a home and use it as an investment, then again go for places that have high potential to grow.
In this case, you could also compare other investment options since a home would need maintenance cost and property tax.
Take your first step towards buying your own home
Buying a home, for most of you, is going to be a life-altering decision. Be patient- that’s the most important advice that anyone can ever give you. Set the most realistic goals in terms of getting your finances together.
For women looking for reliable home buying advice and housing solutions, visit www.herhighnest.com. Explore how we can empower you to own a space of your own. As said before, you can always start small. Even if you can’t buy your own home right now you can opt for safe and affordable hostels and workstation. Looking for a space that allows you to work and help you bring your home buying dream come true? Talk to us about W@W- Women At Work workstation and Working Women Hostels in Mumbai and Pune.
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