What are the factors that influence Home buying ?

Some decisions in life are very crucial and need to be taken with utmost care and after a lot of thought. One of them is that of buying a house. For most of the people, it becomes the biggest financial investment in their lifetime and the property becomes a large part of their wealth. Thus, a majority of people buy a property after a lot of thinking and assessment. So many factors come into play and influence the home buying.

The first and foremost factor will always be the budget. Whatever be your dream of an ideal home, you will always have to adjust it according to the capital you have or your willingness to take a loan and capacity to repay it. Most people start looking for a house based on their budget, the other factors come after that.

Next comes the size of the house, and that depends on the budget, and on the number of people going to reside there, how many different rooms are needed etc. so accordingly, people start looking for a property size ranging from 1 to 4 BHK.

Home buying also gets influenced considering for how many years the buyer is planning to live there. If it is just a few years, the resale value is also considered. If the buyer plans to live there for a long-term, for a few decades, then he/she has to plan accordingly.

Another factor is the neighbourhood. People are conscious of who will be their neighbours, whether they want a house in a large housing complex with many amenities or just a single CHS or any other. People also look out for the essential services and how much far are they. Like the school, market, hospital, entertainment hotspots, travel points like a bus stop, railway station etc.

If people still don’t zero on any property after so much consideration, then it is always wise to meet a Realtor. There are many estate agents, real estate consultants in Mumbai and surrounding areas. One thing is sure after all the factors are considered and we are getting almost all of them after we buy the property, the satisfaction and happiness just can’t be described.

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