Cms2Cms Ideas and Feature Requests

Five steps to buy a house, for first-time home buyers in India

Finance is one of the most fundamental requirements when it comes to purchasing a house, and most of the other factors revolve around this. As property buying is usually a once-in-a-lifetime decision, it is necessary to evaluate your funds accordingly. To get a house, Someone now has to spend their savings and also go for a home loan. The process of getting a loan has also become more straightforward, with a majority of people opting for it. Nevertheless, there are some basic principles that one can follow, to plan your investments for buying a house this year.

  • Pay off all your current debts

You can never spend your net worth if you are debt-laden. Any partial payment towards this debt will visible poorly in your credit ratings, and this may affect the home loan process. Paying off your debts ultimately will help you move ahead in the way of home buying. Except for relieving one's tension, it can help you to properly allot money for your basic needs and your big real estate purchase.

  • Invest in multiple sectors

One should learn about the various financial industries available in the market. This can assist you to spend your money correctly and utilize the returns, to fund the purchase of your house. Financial experts always emphasize on having a mix of various asset classes in one's portfolio, as this will assist you during big-ticket purchases, like property. "Before deciding to purchase a house, one needs to make sure that the present asset allocation is not skewed towards a risky asset category like equities. If that is the case, one should shift a part of those assets to less risky ones that are also liquid. Mutual funds can be an excellent avenue for such temporary or short parking of funds.

  • Track your spending

Real estate is one of the expensive investments. However, with modern customers being exposed to global standards, they refuse to settle for anything. In such a situation, each penny counts. Experts recommend that Someone's monthly budget should be based on the 50/30/20 thumb rule, where one spends 50 percent on necessities, including groceries, utilities, medical expenses, etc., 30 percent for satisfying yourself and your family, while the remaining 20 percent should be saved. This 20 percent will help you in your down payment, receiving home loans and also in case of any other crisis.

  • Standing instructions for automatic transfer of money

Start standing instructions at your bank, for transferring money from your salary account to your savings account, each month. This will help you in checking, and you will only spend how much left after savings. Going forward, when you take a home loan, you can follow the same method, so that monthly EMIs are taken care of, right at the beginning, and you avoid getting into any financial mess.

  • Maintaining a balance between rent and EMIs

Proper planning is especially important when one plans to buy a house while also living in rented accommodation. This will entail an outgo of EMI, as well as the rent for your current home. Once you get a home loan, the EMI starts instantly. This can become troublesome when you are paying it at the same time as the rent for your current place. You should keep a proper balance, between the EMI and the rent, so that once you get the settlement of the new house, you can increase the EMI price and move into your dream home.

Fund management, for purchasing a dream home:

Plan the monthly estimates using the 50/30/20 thumb rule, where you spend 50 percent on basics, 30 percent on luxury and the remaining 20 percent in savings. This will help you to hire a professional Packers and Movers Bangalore or any cities in India. Modify your asset allocation mostly from risky assets to liquid assets, so that when you zero-in on a property, you can directly proceed and not let go of an opportunity because of the lack of funds.

  • Mukesh Panda
  • Jul 11 2019
  • Attach files
  • pooja rana commented
    11 Jul 10:46

    Nice blog

    ##packers and movers in Delhi 
    https://www.leopackersandmovers.in/

  • pooja rana commented
    11 Jul 10:47

    Thanks for sharing the blog

    ##packers and movers in Gurgaon

    <a href="http://www.moverspackersgurgaon.com/">Packers and Movers Gurgaon</a>

  • saloni verma commented
    01 Aug 10:33

    Top best packers and movers company in patna Bihar. Patna packers and movers provide full service of Packing Services like, packers movers in Bihar.
    http://muskanpackersmovers.com/


    We are the trusted and reliable packers and movers in Patna.We offer top best services of packers and movers in Patna to our clients in the field of packing and moving services all across Bihar & Jharkhand.
    http://www.nandnipackersmovers.in/

  • Manoj Arya commented
    31 Aug 08:00

    Best home and office goods relocation services providers in Noida and Delhi NCR. here click for more information-

    <a href="http://packersservices.in/" >packers services in noida</a>

    <a href="http://packersservices.in/movers-and-packers-delhi.html ">packers services in delhi ncr</a>

    <a href="http://packersservices.in/movers-and-packers-delhi.html ">delhi packers and movers</a>

     <a href="http://packersservices.in/movers-and-packers-delhi.html">packers and movers in Delhi</a>

    <a href="http://packersservices.in/movers-and-packers-delhi.html">packers movers delhi</a>

     <a href="http://packersservices.in/movers-and-packers-delhi.html">home packers and movers in delhi</a>

  • Rishab gandhi commented
    09 Sep 06:27
  • Relocato Removals commented
    11 Oct 08:04

    The quick and convenient door-to-door shifting is the best way to serve customers and help them to stay away from any shifting task in the future. With this, Best Packers and Movers Service Providers in Ghaziabad. have proved to be the ideal solution home shifting services in Indirapuram Ghaziabad for every individual who often or the first time moving to a new place.

  • Relocato Removals commented
    24 Oct 11:43

    Employees of packers and movers in Delhi understand the entire transition process and deal with the changes in a better and more planned way. The staff is competent and experienced, providing protection for all your goods. We pack soft and glass with 100% security to prevent cracking goods. Coverage of packaged products is provided by packers and service provider movers during transportation. Therefore, both packers and movers have different facilities in Delhi City.

  • Relocato Removals commented
    24 Oct 11:44

    The packers and movers staff understands the entire process of relocation and cope in a better and more planned way with the changes. The team is professional and knowledgeable, packing all your products with protection. To avoid cracking products, they pack soft and glass with 100 percent protection. Packed product coverage is offered during transport by packers and service providers in Indirapuram. Therefore, both packers and movers in the city Indirapuram have different facilities.

  • Relocato Removals commented
    24 Oct 11:47

    It has become quite stress-free and easy nowadays to get in contact with Relocato Removals for relocation services in Bangalore. The Relocato Removals moving firm have ample experience in this field and are always aimed at pleasing customers with ease. But, still, whenever a customer tries to get in touch with a local Bangalore shifting company such as Relocato Removals, he or she must know the tips to hire them, the best one. Here one can look at some areas where every customer needs to know before hiring a packers and movers agency such as Relocato Removals.

     

  • Relocato Removals commented
    24 Oct 11:48

    The household moving company team understands the whole relocation process and deals with the changes in a better and a planned way. The team is experienced and professional which packs all your household goods with safety. They pack soft and glass with 100% safety to avoid cracking of items. There is a providence of insurance of packed goods during moving by packers and movers service providers. In addition, all the packers and movers service providers near me have different facilities.