| By now, most of us have acclimatized ourselves fully to a new way of living, which includes working from home and exercising at home instead of stepping out for the gym or office. With that in perspective, how have things shaped up in home-buying after the pandemic? Indeed, the home buying process is not immune to the changes brought in by the pandemic. It is set to transform how buyers search and purchase their homes in the future, be it for residence or investment.
If you are thinking of making this important purchase post-pandemic, here are some tips that will help you in the process:
Decide if You’re Ready
Don’t make the pandemic and the possibility of getting a good bargain the sole reason for buying a home now. There are a lot of other, more important, factors to consider, such as your financial standing, career goals, and location. These factors will determine the type of home you buy, where you buy, and whether you are ready to take the leap from renting to paying regular EMIs for the long haul. There are a number of 2 bhk flats in Thane, which are easy on the pocket and offer the indubitable luxury of owning a fine home in a great location.
Check Your Credit-Worthiness
Make an honest appraisal of your credit score as this will determine the amount of EMI you can realistically pay to own your home of dreams. It will determine what loans and interest rates you qualify for, and who knows, you may qualify for more than you thought. That said, don’t go out of your budget and make a rash decision that you may repent later on.
Consider the Location
Thanks to the extensive acceptance of work-from-home culture, many young families and working professionals are actively considering relocating to their hometowns. In the face of the uncertainties brought on by pay cuts and layoffs, reverse migration saves the money spent on the high cost of living in metropolitan cities as well as gives the emotional comfort of living with family.
Indeed, this shift seems like a wise decision, both in terms of economic and physical wellness.
Integrated Townships are a Good Choice
Integrated townships are spread over large tracts of land, providing a better quality of living to their residents. It also offers an array of housing options to suit different needs. These townships are either close to all the daily conveniences, such as grocery stores, pharmacies, banks, post office, petrol pumps, etc., or have the same within their premises. A report by Ernst & Young stated that post-COVID-19, self-sustainable integrated townships could become the preferred choice of prospective homebuyers. Indeed, with work-from-home culture, outside air pollution, and social distancing becoming the norm, it is not hard to guess why.
Equity Toward the Future
While job uncertainties and pay cuts certainly make home-buying an intimidating financial decision, your home may not only return your investment but net you a profit in the long run. As opposed to paying your monthly living expenses to a landlord, owning your own house, and paying off a loan instead allows you to build equity over time. This makes homeownership a wise choice of an asset for wealth building and protection in case of future emergencies, especially when you invest in one of the new projects in Thane. |
