This post: is targeted at young, first time home buyers. We include vital tips to conduct proper research, plan and invest money wisely in the current real estate market for 30+ Year Old Home Buyer.
When you invest in a house, you are buying it for the long run
For a hard-working, smart young man or a woman like you, buying a house is a remarkable
achievement as much as it is a massive financial commitment. Before you put your money
on a beautiful house which makes perfect sense today, we want you to consider other major life decisions before committing to a house. As a 30+ Year Old Home Buyer ask yourself these questions:
● Will I live here forever
● Will I stick on to this job for a long time
● Are there chances that I might move to a different city or country
● Will I need money to study masters at a good business school in the future
● Will I get into starting, running, and managing a business
● When will I get married
● Will I have kids (think about proximity to good schools etc.)
● Will my parents live with me
These are just a few questions which should help you understand and align your priorities
neatly. Our idea is not to offer gyan or wisdom, but the intention is to nudge you to get into
the right mindset before you commit your future to a major financial commitment.
Are real estate agents any good?
Let’s address the elephant in the room. While all middlemen take a cut of the sale cost from the builder or the promoter, every liaison is motivated by different factors. Real estate agents (usually ones who operate individually) take a cut from both the builder as well as the buyer.
Their earning on every deal is directly proportional to the value of the deal. So, chances are
that you (30+ Year Old Home Buyer) may not get a great deal or value for money (lack of open negotiation).
However, there are platforms such as HousingMan.com where we work with the builder,
negotiate on behalf of you, and get you a good deal. Every builder sets a certain percentage for sales and marketing. Bigger the builder, bigger the budget for sales and marketing.
We at HousingMan have developed strong relationships with top realty brands and builders
in India and we know in and out of each property. We help the builder find the right buyer
(without spending too much in sales and marketing efforts). As a result, we are in a strong
position to negotiate for the best deal than most middlemen in the market.
When buying a house, there is no standard sale agreement
When you decide to put in your hard-earned money and purchase your first, dream home,
there are a ton of papers and agreements you need to sign. The most important of all
agreements is the sale agreement. With proper guidance from an experienced real estate
consultant, you will and should be able to negotiate for a good price and amenities from the builder. And none of the contracts or agreements is standard and all are negotiable.
How to negotiate for the best deal (price + value for money) while buying your first home
Common mistake home buyers tend to make is to compare the price of two different
houses from different builders. You got to remember that the so-called ‘market price’ of a
property is whatever price the seller (builder) sets it to be.
There is absolutely no regulation to control the pricing on properties in India. Individuals look at a house in isolation when it comes to price negotiation. However, an expert consultant will be able to assess the complete project inventory and examine the quantity of pending houses which remains unsold. This information helps you/consultant to drive a better bargain.
If you agree to pay the list price, then chances are that you are going well above the actual
value of the property. A reliable consultant should give you a list of housing options within a specific price range which makes sense to you, the buyer and hence get you good value for your investment.
Hire a consultant
We at HousingMan have created a platform to disrupt the real estate market from the buyer’s point of view. We have built relationships with builders and understand the pros and cons of each project. We work with you to understand your budget, needs, and wants to offer the best of what the market has to offer and drive a good bargain for your money. Talk to one of our consultants today at +91 9108456096.