Financial tips for First Home Buyers 
                     Financial tips for 
First Home Buyers
Financial tips for First Home Buyers
Do you think it's time you own a place you call your own? Your 
first home is one of the greatest milestones of your life, it may 
not be perfect but it definitely will be special. We are 
programmed in a way that we rethink at least ten times before 
buying a piece of furniture like a chair. We worry if it will suit 
our comfort in the long run, if it will satisfy the comfort of our 
guests, whether it will break soon and whatnot, so we can only 
imagine your dilemma when it comes to buying our first home.
Another major challenge is managing your finance before and after buying a home. A house is a huge 
investment and it is going to take up a large sum from your savings, so most of you prefer to take 
home loans to suffice this void, but do you know which bank loan will keep you safe and tension free in 
the long run? Hold on because we are going to give you a few tips on the dos and donts for your unique 
concerns in buying a home for the first time in Gungahlin.
Ideal Home and Room Size
When you are searching for your dream home, don't forget that 
each member of your family has different needs. A sports 
enthusiast might need to accommodate their gym amenities 
while a dancer might need a room with mirrored walls, 
resembling a studio. It is possible to stick to a simple and not so 
accommodating home but if you are planning for a long-term 
stay at the place, it is important to consider all their needs. 
Financing all of these versatile needs while maintaining your 
savings will require you to resort to home loans. 
Know the market value of the property
If you are looking to buy a house and to get home loan Gungahlin, like every other place the seller will 
make sure he gets the best deal out of every sale, so look out before losing your money. Knowing the 
current market rate will enable you to understand the actual rate of the property, and you can resort to a 
home loan that will suffice your needs while not causing damage to your savings. Sometimes the market 
value of the property could be higher than the sale value. In these cases check carefully for what makes 
the seller sell for so much less. It could be a minor problem with the property or an issue with the seller or 
the seller’s immediate need for money. Don't let such an issue go unnoticed as it will later cause a lot of 
trouble. More this is your first home so make sure everything is perfect 
Consider all the additional expenses that come with the home
Apart from the price of the home, additional expenses like initial maintenance charges, yearly 
maintenance charges, ownership transfer costs, insurance, parking allotment costs etc. Take account of 
this before you apply for a loan.
Potential investment material
Make sure that your new house is a potential investment that will give you worthy returns in the future. 
Higher capital gains in the future should be the goal and the gain should override the void the home loan 
interest creates after the purchase.
Choosing finance
Consider a home loan to fund the gap. Taking a home loan from a reputed financer is crucial as it will get 
you better interest rates and benefits. Pocket-friendly EMIs and tax benefits will help you to stay on track 
regardless of your spending in buying the house. Choose the right financer because your down payment 
should not cause you trouble in the near or far future. EMI might have varied interest rates with different 
financiers so make sure you have done your research before choosing what you chose. Possession of 
property should depend on your interests and likes not what is payable and not.
Delivery of Plots
Plots are typically available for possession, unlike apartments, which may require several months or even 
years. If your chosen plot is located in a township, you will probably be able to take possession of it 
before a flat. As a first home buyer, you need to make sure that you have looked iti all choices and 
possibilities before buying a house.
Tax Prospects
Plots and apartments receive special tax treatment. The monthly loan payment allows you to save tax 
when you take out a house loan to purchase a flat or construction floor. Tax deductions for interest are 
only permitted in the case of plots once the construction is complete.
The best course of action would be to select one after evaluating your needs, financial capabilities, and 
liabilities because both plot and flat have their own advantages and disadvantages. A plot in an area that 
will increase in value would be an excellent choice if you are only looking to invest your money for a few 
years before you are ready to buy a flat. 
Amenities
A property's purchase price and resale value are influenced by the facilities provided. The value of 
projects is increased by well-maintained infrastructure and services. Buyers of homes should keep an 
eye out for developments that provide as many amenities as feasible.
The aforementioned advice can be helpful for you if you're a young person wanting to purchase a new 
home. In addition to these, you should search for RERA-compliant projects to ensure that you will receive 
your promised 
Location
It is important to initially choose the property's location where you feel most at ease investing. Studying 
the area's possible growth corridors is beneficial in the long run. A property's value increases over time 
due to its advantageous location. A property's rental value is higher if it is close to places of employment, 
major shopping areas, medical facilities, and educational institutions.
Buy your dream first home but before that, make sure it is an investment worth making. Rely upon and 
trust home loans for your finances after doing ample research because you don't always need to drain 
your savings to invest in your dreams.
Make your first home experience the most special and memorable one, and do this by keeping all your 
requirements in check. Why waste opportunities by not having the right reasons and requirements to buy 
a house? Lock that contract by following the proper finance routine and taking the right loan. 
Manage your finance before, and after buying a home, as we mentioned earlier, it is one of the most 
crucial parts of a home loan. A house is a considerable investment, and it will take up a large sum from 
your savings, this is exactly why most of you prefer to take home loans to suffice this void. Follow these 
important tips and tricks to know where to take what loan from as it will serve as the right guide for you. 
Choose the right location, the right loan, the right seller and right locality. Your first home is what yor are 
going to remember for the rest of your life and it might even end up being the place you grow old in, 
where your children will grow up, where you will plant trees and they will grow up to bear fruit and what 
not.
THANK YOU
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