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Things to Avoid During Buying a Flat

People save their hard earned money for their entire lives to buy a flat that will be a statement of their dreams, hope, hard work, personality, and style. Buying a flat is much more than what meets the eyes. 

It is based on thorough research, days of exploration, and endless nights of planning. To buy a flat, especially in a place like Dera Bassi, the booming satellite city of Chandigarh that offers  great opportunities and potential is the best deal one can invest on. SBP Group offers you world-class flats at the townships in Dera Bassi. Before you buy a flat, avoid making these following mistakes –

Don’t spend more than the real value

When you make a decision rashly or spontaneously, the chances are you will most probably regret it in the future. Many builders, seeking advantage of your need and urgency to buy a flat sell you overpriced apartments. Before you finalize a deal, make sure you are not being cheated and that you are paying the right price for the place. Compare the floor area and carpet area in details and pay according to the carpet area. 

Many builders offer you a tour of the sample space, i.e. the space that is the ‘replica’ of the apartment you would be buying. Before you make the final call, visit the original flat as well. There are times when the sample space does not match the original space. Beware of such fraudulent in advance.

Don’t Overextend

For some people, their house is everything; whereas, for some, a house is just a part of their lives. When you invest in a flat, think about its maintenance cost in advance. If you believe the maintenance cost of the place will hamper your lifestyle, think about your decision again. If you love to live life to the fullest, make plans for holidays and vacations frequently, like to go out on lavish dinners and fancy parties, go for a home that will prove a one-time small investment in the long run.

Never Lie

No one likes to lie but in some cases, one must not even think of lying. Such cases are loan inquiries. Lying during loan inquiries is not just a fraud but also huge risks where you can lose your flat permanently. Avoid lies and go with the plain white truth. Do not underplay or exaggerate your financial condition. Even honest mistakes or a single doubt in the lender’s mind regarding your information while applyingfor a mortgage cancost you your house completely.

Avoid Buying Expensive Items

By saying this, we do not mean to put a halt in your life. We just mean – wait. The soon you buy a house, you would want it to be filled with expensive equipment, furniture, appliances, and great interiors. You would want a luxurious car parked in your personal garage and exclusive facilities in your dream house. But with all this, you will increase the burden of your loan. Taking on new debt without repaying the old ones have never been and will never be the smartest idea. Avoid extra expenses till your house loan is paid.

Avoid Changing Jobs

Sticking to old jobs might be strenuous at some point but changing job while you have bought a new house is not the right idea. Continue with the old job that is offering stability and scope of increment and promotion for as long as your house debts are not cleared. Instability at jobs can create a bad reputation in front of your lender. Always keep in mind, stability is always appealing to a lender.

Don’t Miss Loan Payment

The biggest mistake one can do with their home loan is, missing the deadlines of the loan payment and not paying it altogether. This not only puts you in a bad place but also creates a bad image for a long time. Apart from reputational damage, it also causes an extremely heavy burden all at once.

If you are looking for a luxurious flat in Dera Bassi, contact SBP Group and get the best offer. We make sure to provide you with quality deals that you can’t say no to. From 1 &2BHK flats in DeraBassi to lavish commercial spaces, we provide with you all.

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