Advertising
Advertising

The Ultimate Guide To Buying Your Dream Home

The Ultimate Guide To Buying Your Dream Home

All of us have an idea of what our dream home will be like. We might’ve made vision boards filled with magazine cut-outs of Gothic mansions, penthouses or swanky Upper East Side apartments. Some of us are even actively working towards it.

Buying a beautiful house is probably the most important and expensive purchase you’ll ever make, so it is imperative to consider a few things before actually doing it such as figuring out the mortgage, researching the home loans available and of course effectively managing your finances before and after.

1. Decide How Your Dream House Will Be Like

how-your-dream-house-will-be-like

    This is the time to unleash the dreamer in you. Imagine how your dream house will be like. Don’t think about the house you’d buy if you had all the money in the world but the house you really need. Work out the number of rooms depending on the number of people who will live in it, whether it’s going to be an apartment or bungalow, and the like. Check out pictures and home listings online. Also, consider the location and neighbourhood.

    Advertising

    2. Decide Your Budget

    Budget

      Once you have a good idea about your needs, think about the budget and planning. How much money are you willing to shell out? If you’re looking at listings online, compare prices. Once you fix a budget, try to stay within it as you’ll have extra expenses – furniture, decoration, and maintenance costs – to consider.

      3. Double Check Size, Location, Price

      property-for-sale-5-1413776

        Now that you know exactly what you’re after, it’s time to review the facts. Check if the size of your new home is adequate not only for now but also for the future, especially if you’re planning to have children. Check if the location doesn’t make daily commuting to the office difficult and if the neighbourhood isn’t shady.

        Advertising

        And finally, the price. See if you can get it a bit cheaper. As per stats, 44% buyers found their dream home via the internet and 33% hired a realtor. We suggest you hire a realtor and go for a pre-inspection. Make sure you’re getting a good deal.

        4. Fix A Deadline

        Deadline

          Now fix a date in the future, write it down, and tape it to the fridge or wherever you’re likely to see it often. This is your goal. By this day, not only will you have purchased your dream move, but you’ll also be busy packaging items to move in. Make sure the date is realistic and that you can work towards it every day.

          5. Research Home Loan Options

          Advertising

          loan-application-1240982

            Perhaps the most important step of all, this is where you figure out the finances. Spend time researching the home loan options available, and choose one that seems the most flexible, saves interest costs and offers a grace period or EMI repayments. Calculate the EMI you have to pay back each month and see if you need a pay rise in your salary or another job. Do not take a risk here.

            6. Work Out The Mortgage

              Remember that prices of houses rise and fall. Do you have plans of selling this place in the future and moving somewhere else? Do you want to rent a part of it and make passive income? Given that 42.9% of all families have a home-secured debt (2013), it is important to not fall into the trap.

              There are plenty of affordable mortgage rates available – choose whether you need one with a fixed interest, adjustable rates or an interest-only loan. Consult a professional in case you are unsure before getting a mortgage pre-approval.

              Advertising

              7. Get A Home Warranty

              home-warranty

                Nothing in this world is permanent. Earthquakes and natural disasters can happen anytime. All houses require regular repairing. Think about the future white-washing costs, plumbing leaks, rust and sediment deposition and get a home warranty that will ensure that even if something goes wrong, you don’t have to burn a hole in your pocket to replace it.

                To recap, before embarking on the purchase of a new home, list your requirements for your new house, make a plan, decide a budget and fix a deadline. Then research on your home loan, mortgage and warranty options and choose the one that is the best match. Go for a prior inspection and if it’s your first time, don’t hesitate to ask for professional advice and soon enough your dream home will be all yours!

                Featured photo credit: http://www.stockvault.net/photo/132348/beautiful-house via stockvault.net

                More by this author

                Vikas Agrawal

                Vikas is the co-founder of Infobrandz, an Infographic design agency that offers creative visual content solutions to medium to large companies.

                What Are Analytical Skills (And How to Strengthen Them For Success) How to Create an Infographic Resume That Will Impress Your Future Employer How I Get Things Done with Only Half of the Time Others Need Writing a Great Value Statement Can Bring In Tons of Money for Your Business All-Natural Tips for Fighting Insomnia and Sleeping Better

                Trending in Lifestyle

                1 15 Simple Ways to Boost Your Emotional Health 2 Why Assuming Positive Intent Is an Amazing Productivity Driver 3 How To Be Successful In Life: 13 Life-Changing Tips 4 7 Stress Management Techniques to Get You Back on Track 5 10 Quick Easy Workouts To Lose Arm Fat At Home

                Read Next

                Advertising
                Advertising
                Advertising

                Last Updated on April 8, 2020

                Why Assuming Positive Intent Is an Amazing Productivity Driver

                Why Assuming Positive Intent Is an Amazing Productivity Driver

                Assuming positive intent is an important contributor to quality of life.

                Most people appreciate the dividends such a mindset produces in the realm of relationships. How can relationships flourish when you don’t assume intentions that may or may not be there? And how their partner can become an easier person to be around as a result of such a shift? Less appreciated in the GTD world, however, is the productivity aspect of this “assume positive intent” perspective.

                Advertising

                Most of us are guilty of letting our minds get distracted, our energy sapped, or our harmony compromised by thinking about what others woulda, coulda, shoulda.  How we got wronged by someone else.  How a friend could have been more respectful.  How a family member could have been less selfish.

                However, once we evolve to understanding the folly of this mindset, we feel freer and we become more productive professionally due to the minimization of unhelpful, distracting thoughts.

                Advertising

                The leap happens when we realize two things:

                1. The self serving benefit from giving others the benefit of the doubt.
                2. The logic inherent in the assumption that others either have many things going on in their lives paving the way for misunderstandings.

                Needless to say, this mindset does not mean that we ought to not confront people that are creating havoc in our world.  There are times when we need to call someone out for inflicting harm in our personal lives or the lives of others.

                Advertising

                Indra Nooyi, Chairman and CEO of Pepsi, says it best in an interview with Fortune magazine:

                My father was an absolutely wonderful human being. From ecent emailhim I learned to always assume positive intent. Whatever anybody says or does, assume positive intent. You will be amazed at how your whole approach to a person or problem becomes very different. When you assume negative intent, you’re angry. If you take away that anger and assume positive intent, you will be amazed. Your emotional quotient goes up because you are no longer almost random in your response. You don’t get defensive. You don’t scream. You are trying to understand and listen because at your basic core you are saying, ‘Maybe they are saying something to me that I’m not hearing.’ So ‘assume positive intent’ has been a huge piece of advice for me.

                Advertising

                In business, sometimes in the heat of the moment, people say things. You can either misconstrue what they’re saying and assume they are trying to put you down, or you can say, ‘Wait a minute. Let me really get behind what they are saying to understand whether they’re reacting because they’re hurt, upset, confused, or they don’t understand what it is I’ve asked them to do.’ If you react from a negative perspective – because you didn’t like the way they reacted – then it just becomes two negatives fighting each other. But when you assume positive intent, I think often what happens is the other person says, ‘Hey, wait a minute, maybe I’m wrong in reacting the way I do because this person is really making an effort.

                “Assume positive intent” is definitely a top quality of life’s best practice among the people I have met so far. The reasons are obvious. It will make you feel better, your relationships will thrive and it’s an approach more greatly aligned with reality.  But less understood is how such a shift in mindset brings your professional game to a different level.

                Not only does such a shift make you more likable to your colleagues, but it also unleashes your talents further through a more focused, less distracted mind.

                More Tips About Building Positive Relationships

                Featured photo credit: Christina @ wocintechchat.com via unsplash.com

                Read Next