The 5 Things to Keep in Mind When You Want to Buy Your First Home

Buying a house is considered a lucrative investment. However, buying the right home can take some time. Finding the right home consists of numerous steps like knowing your finances, location, whether you need to apply for home loan and more. With so much to consider you are sure to get confused. Once you have shortlisted some properties through real estate companies, finalising on the one that meets your needs is quite easy. To make it easier, mentioned are some things a person needs to consider when buying a house for the first time:

Know How Much You Can Afford

The first thing a buyer needs to keep in mind when buying a house for the first time is how much he/she can afford. Obviously, buying a house is expensive, and you might even have to apply for home loan, but then first know how much you can afford. To ensure your first-time home buying experience is a good one; you will need a good credit score, sufficient amount to pay the down payment, a steady job and more.

Know Your Credit Score

The next step is all about knowing your credit score. A credit score can make or break your home buying experience. A person having a credit score of 720 and above can easily apply for a home loan with a low-interest rate. However, if you have low credit score, you are restricted to high-interest rates.


Know Your Requirements

When you start looking for a house, you are bound to get spoilt with choices. Considering this aspect, it is vital to know what you are looking for. Consider the type of home you are looking for, whether 1 BHK, 2 BHK or 3 BHK. This will help in narrowing down your search thus making your house hunting process an easy one. Various real estate groups like Neelkanth Group offers various flat options. You can choose the one that best meets your needs.

Assess Your Neighbourhood

Before you sign on the dotted line it is wise you determine the neighbourhood. It might look beautiful from the outside, but you do not what lies inside. Visit the neighbourhood or locality during weekends, late evening and especially during rush hour. While doing so, also get to know all the necessary requirements like school (in case you are moving in with children), hospital, grocery store and so on are nearby.

Hire A Real Estate Agent

If you have any specified area in mind, then you are advised to seek help from expert real estate agents. Get in touch with real estate companies as they are quite familiar with the market value of the property, the neighbourhood and other local matters. Their priceless experience and knowledge will take you a step closer in buying your first home.

Keep these five major aspects in mind when buying your first house.

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Giving Your Parents the Ultimate Gift – Finding the Right House for Your Parents

If you still thinking on what to gift your parents on their 60th wedding anniversary, then how about gifting them a new house? It is a great gift, and your parents will surely love it. Your parents have helped you in buying your dream home. And now, it is your time to buy them a good home with all the facilities. Buying a house for your parents can be quite a task as there are various flat for sale in Thane. You also have to consider numerous factors before finalising on the house:

Know Where Do Your Parents Want to Stay?

Before you start choosing a place for your parents, it is wise you have a word with them of the same. You need to have a discussion on whether they have any locations or areas in mind or do they want a house that is closer to the current one. Getting to know their preferences is vital after it is them who will be staying in the house. It is always advised to choose a home for your parents in your vicinity itself. Location plays a vital role in this aspect. Study the location you have selected for your parents. After all, you want the best for parents, right?

Healthcare Center Nearby

As they will be staying alone, it is wise you choose flat for sale in Thane that have healthcare centre nearby. This works well especially in the case of emergencies. It is therefore advised to buy a house in your locality as you can pay visits on a regular basis. It also becomes easier to take them to the hospital in case of any medical emergency.

Know the House Is Elderly Friendly

You should know your parents cannot climb the stairs especially when you have chosen a flat on the sixth floor. Therefore, you should choose an apartment on the ground floor itself. This works well even if the lifts stop working. It is convenient and ensures your parents are always safe. Apart from this, if you have chosen a house on a third or any upper floor, ensure the building has two lifts. This ensures even if one lift stops working, the second one is accessible.


Another vital factor to keep in mind when finding the right house for your parents is easy accessibility regarding transport. Get to know whether the area has transportation options available. Your parents cannot walk 3 miles just to catch an auto rickshaw. Ensure the flat for sale in Thane you are looking at are located in such a way that it offers easy and convenient transport solutions.

Buying a house for your parents is surely a great gift you can even give to your parents. But, do keep these aspects in mind in choosing the right home.

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Planning Your Home Purchase with Your Spouse Before You Get Married

You might have heard of the common proverb, “Love is Blind”, but do not follow the same concept when buying a 2 BHK or 3 BHK flats in Thane together. A lot of couples once the engagement is done start looking for a house. It is believed that a lot of couples buy a house before getting hitched. However, you should also know home buying is the biggest move a couple can take and hence should be done carefully. So, if you are planning to buy a house with your beloved before getting married, get rid of the financial heartbreak by keeping in mind these tips:

Consider Opening a Joint Account

In case, you do not have a joint account; you might want to open it as soon as possible. The same joint account can be used to pay the property taxes, mortgage, maintenance and also insurance charges. To ensure you do not forget to deposit the amount in your joint account, set up an automatic monthly deposit from your account. This ensures neither of the parties forgets to collect the money. Furthermore, you can even have home expenses automatically deducted from the account which simplifies the budget tracking and bill paying.
Compare the Credit Scores

When determining whether you can have enough money to buy flats in Thane, you might have already shared the income and saving details with each other. Another vital information you might want to share with your to-be spouse is credit report. This also goes for the partner who is planning to get into a business deal. Knowing the creditworthiness of the business partner works the best. If either of the partners has poor credit score it can have a significant influence on two major aspects:
Who will take responsibility for the loan
Title of the property

You should know married couples are considered to be a single unit, whereas it is not the same with unmarried ones as they are treated as individuals. So, before you start looking or flats in Thane, do not forget to compare the credit scores.

Agreement in Writing It Vital

It is advised to have the agreement in writing. You can do so by contacting a professional real estate lawyer. This majorly includes partnership, property, or even cohabitation agreement. This should also have complete details of the arrangement like what happens to the property in case you split up and also what percentage of equity each of the partners is entitled to.


Deciding on Managing the Costs

A partner is ultimately liable for the debt when he/she cosigns on a mortgage. So, in case the relationship turns sour, or you split up, or the partner stops paying entirely, the cosigner has to take up the responsibility.

Title It the Right Way

It is also important to decide on how you will take the title or own the house. You have three primary options:

A partner can hold the title of sole owner
Both the partners can hold the title as joint tenants
Share the title as tenants in common

These are some vital aspects unmarried couples need to consider when planning to buy 2 BHK or 3 BHK flats in Thane.

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