The Ultimate Checklist for First-Time Homebuyers

Gurgaon is a place full of real estate opportunities. Some people invest regularly here, and some buy their dream homes. With its rapid development and world-class offerings, Gurgaon is becoming a place where many people purchase their first homes. Buying your first home is an exciting milestone, but it can also feel overwhelming with all the decisions and steps involved. Whether you are looking for a cozy apartment or a spacious house, we have made the ultimate checklist to make it all easy for you. So let’s dive into it.

Assess Your Financial Standings

Buying a home is a huge investment, and there are a few things you should be aware of before making that investment.

Check your credit score and work on improving it by paying your EMI on time and using your credit card the right way.
Calculate your budget, determine the size of house you can afford and want, and make sure that your budget and needs match.
Save some bulk money of 10-20% for a down payment, the more the better.
Set aside an extra 2-5% of funds for more follow-up registration payments and taxes.
Get a pre-approved mortgage to know your borrowing capacity and set up your housing budget accordingly.

Define Your Home Requirements

Deciding how you need your home to be can reduce the search time and help you narrow down the options.

Choosing the ideal location and neighborhood.
You should have a clear goal about the type of home you want, as there are plenty of options.
Consider proximity to basic facilities like schools, shopping centers, and hospitals.
Make sure to assess the land rates and aspects of future growth.

Find the Right Real Estate Agent

Finding the right real estate agent is essential for first-time home buyers.

Meet multiple agents and choose the one that fits your liking and budget.
Discuss your home budget and home requirements.
Stay informed about the market trends and market rates, and compare them with your agent.

Start House Hunting

Once you are ready with your budget and financial report, start house hunting.

Look up online listings and visit offline sites.
Do virtual tours and compare the amenities.
Check out the sample flats of the property if available; it will help you understand the property better.

Make an Offer and Negotiate

When you find that right home, it is time to act on it.

Work with your agent to make a competitive yet reasonable offer.
Be prepared for possible counteroffers and negotiations.
Make sure that the home is verified and has all the security measures and quality checks.
Make a generous offer to show commitment.

Conduct Home Inspection and Appraisal

After securing the best offer, make sure that the home is worth it.

Have a proper home inspection by a hired professional to make sure that you are not compromising on quality.
In case of any damage or issues, make sure to get it fixed before buying the house.
Make sure to assess the property's current value against the market rates.

Finalize your Mortgage and Paperwork

As you move closer to making a deal, make sure you have the right mortgage.

Make sure to compare interest rates with different financial banks and companies.
Review the terms and conditions of the loan and make sure that there is no hidden cost.
Make sure to get homeowner’s insurance.
Get all your documents verified to prevent future issues.

Close the Deal and Move In

After assessing all the paperwork and inspections you are now ready for the deal closing.

Do a final walk around through the property and make sure everything is A-okay.
Check that all the documents are there and do the final signing.
Pay any remaining costs and receive the keys.
Congratulations on your first home.

Final Thoughts

Buying your first home can be stressful, but with the right checklist, a great broker, and determination, it can be much more rewarding. Take your time and do thorough research, make sure that you are satisfied with your search and not buying your home in a hurry. Agnayi helps you find that perfect home for you, just give us a call, your budget and requirements and we will give you the best offer possible.