No matter what you decide to do, whether building a new home or buying an existing home but the budget is the essential factor which you need to consider. For middle-class people, it is hard to keep a large amount of money in hand because new or existing home is expensive.
But you can fulfill your wish by getting a loan. Home loans and construction loans are offered by various banks these days so that everyone can get their own house.
You or your family members may be allergic to some kind of smells or pollen grains or do not like a particular color in their house. Then you can go for building a new home as there you can take care of the choices or your family by avoiding rework and making everybody happy.
On the other hand in buying an existing house, there may be things which you could not find at first but may create problem to your family’s health. This is one of the disadvantages of the buying existing home in Nagpur.
You might wish to avoid the tiring process of building a house and would choose to buy existing property in Nagpur. You might be imaging to settle in your new home with no worries but you can fail to observe some of the problems. As it would turn into unexpected and expensive surprises.
And it may even cost you more than building a new home. So, to avoid this building a new home in Nagpur can be a better option.
You might have got transferred to the new city and school of your children is about to start in 2-3 months and also you would not get proper time to maintain a watch at your property being constructed. So buying an existing home could be a good option for you as you will get the possession of your house in no time.
But this may not be the case with building a new home as it will take 6-12 months for the construction work to complete. In case, if you choose to buy existing property then carefully follow the legal procedures. And then check the property by yourself to avoid unexpected and expensive surprises.
Being a social animal, you might need a well-established neighborhood. Does not matter if you are introvert or an extrovert. But because after you are back from your work you may need people around your house to freshen up your mood. And you may also wish to get all the basic amenities available at short distances.
You may easily get an existing home with a well-established neighborhood, but if you wish to buy a new home then you might have to compromise on this factor.
You must have some dreams about how the landscape of your home should be. So while thinking about your own home you might wish to get it as it is in your dreams. But if you are searching for it in an existing property, then there are high chances that you will get disappointed.
But you can easily get it for yourself by building the new home, by hiring real estate agent and Architecture, Contractors and Interior Designers for your home. You could easily get all this under one roof in Nagpur at Somebuddy.
When building a new house, the latest technology will be used and all the things used will have a warranty. Even if they fail, you can replace them easily in the warranty period itself. But if you consider the existing home then there are very fewer chances that LED lights, furniture, etc. are in the warranty period.
And you might have to spend more to repair those things or to get a replacement. Thus, the efficiency of the existing home will be less as compared to the new home.
You might believe in Vastu and the owner who built the existing property may not. You may consider it ominous or everything built in that property may not be as per Vastu. It is hard to find the owner who is selling his house and has the same mind same as you. So, this is one of the disadvantages of buying existing property.
Now depending on your choice whether to build a new home or buy existing one. Each of the choices includes a few steps before you can move to your own house.
You might have built a new home before, but if it may not have been as per your expectations. Then the steps below will help you to guide to get home as per your expectations. The journey to your new home will be as follows –
The home loan process for building a home is different than when buying an existing home. Since things like price, interest rate, mortgage amount and closing date aren’t locked down at the time of writing a new home loan.
The process is different and more evolving than when securing a loan for a resale home. For that, you may need to go through the home loan mortgage process.
Instead of having a home that dictates how each room can be used, you can decide what types of rooms you want and what you may need in the future. For this, you can take help of Somebuddy, a company which will help you for Construction and interior décor of your house in Nagpur.
For more details, you can go through our articles on 8 Things you need to know before doing Interior Designing of your home and 7 stages of House Construction.
By determining what features are most important to you, you can allocate your budget most appropriately for desired upgrades. And let your architecture know about your demands and as him to help you understand everything so that you can fully understand and enjoy the process of building your home.
The procedure of buying home and lending money from the bank, all these procedures may vary from the way to build a new home. Don’t worry, we will help you by getting the rough idea of what you should do before purchasing an existing home.
Ensuring this point is very important because you will definitely not like to be in trouble after you have moved to your house. And find out later that your move was illegal or the property you have purchased is against the laws.
If you are a layman, then you would not understand what flaws are there in the existing property. Carelessness in this procedure may cost you heavily, so for the carefree environment after you have moved in your house. Hire a professional having sound knowledge about buildings.
Before purchasing the house look for questions like
1) Why is the owner selling his property?
2) Was the owner found guilty of some crimes in past
3) How is the locality of the place?
4) Does everything meet your needs?
All these processes are tiresome but they will ensure that you enjoying the property once you have moved to your house.
Above mentioned points will help you to have a cake walk through the confusion whether to buy the existing property or to build a new one. In case of any help, we are available for your help at Somebuddy Interiors in Nagpur.