For most of us, buying a home is probably the single most expensive investment in a lifetime. Naturally, home buying can be a stressful experience, especially if it’s your first time. While you can certainly expect a small measure of anxiety while buying a home, the right preparation can reduce the stress significantly. Minimising stress is all about preparation. Here are some handy tips to reduce stress while buying a house: –
Set your priorities before searching for properties
The property market in India is diverse. Hence, it’s important to decide the essentials you need from your property. List down your preferences such as the number of bedrooms, commute time, school catchment areas, gardens, car parking etc. This will help you save time and look for properties that are suitable.
Prep your finances
There’s no doubt that buying a home is an expensive affair. Hence, it’s important to be financially prepared before buying a home. Exhausting all your saving over a home purchase is not a good idea. Hence, the sensible thing to do is apply for a home loan. Opting for this loan is the most convenient way to secure the home of your dreams without straining your finances. Besides applying for this loan, here are some other tips to be financially prepared to buy a home:
- Check your credit score, your credit score is an important factor that determines your home loan eligibility and interest rates.
- Consider paying off your current debt, before buying a home. This will ensure that your debt-to-income ratio improves. Many lenders consider debt-to-income before giving out a loan.
Get pre-approved for a home loan
By getting a pre-approved for loan, you can understand your loan eligibility well in advance and plan your finances accordingly. To get your loan pre-approved, you will need to submit your personal details like income, age, occupation etc. to your lender. On successful processing of your pre-approval application, the lender will issue an approval letter stating the amount that can be sanctioned as loan. Once, you know your loan eligibility, you can look for properties that are close to the said amount. Hence, pre-approval of your loan is essential if you want to experience a stress-free home buying experience.
If you follow these tips, buying a home will surely be a stress-free experience for you. Once, you have the finances sorted, the other aspects will fall into place effortlessly. For that reason, applying for a Bajaj Finserv Home loan from Finserv MARKETS is one of the easiest ways to reduce stress while buying a house. By applying for a home loan with Finserv MARKETS, you can enjoy exclusive benefits like minimal documentation, quick approval, complimentary financial report and much more. And if you are eligible for PMAY Scheme you can enjoy additional benefits. So apply for a Bajaj Finserv Home loan available on Finserv MARKETS and get one step closer to owning your dream home!
Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. Loans, Insurance, Investment, and exclusive EMI store, all under one roof- anytime, anywhere!