Top 10 Mistakes Of First Time Buyers

Buying a home may seem a frightening task, but a little preparation will ease the way. Check out these common difficulties of first time homebuyers before starting your search.


The declining home values that are annoying homeowners are just one of the factors creating an opportunity for anticipated homebuyers.If you agree, be aware that buying a home comes with plenty of potential missteps. Here are 10 all too common mistakes first timers make.

1. NOT KNOWING HOW MUCH YOU CAN AFFORD

Many beginner homebuyers spend a lot of time researching homes, comparing kitchen layouts and backyard square footage, but very little time researching their financing options. One of the first things buyers should do is talk to a qualified lender and get preapproved for a mortgage. Without first figuring out how much you can afford, you risk falling in love with one you can't. 

2. ASSUMING ACTION FORECLOSERS ARE GREAT DEALS

Just because the previous owner owed 1 Cr on a house before the bank took it over doesn’t mean it’s worth that much now. Values have slipped significantly, so you may not be getting the bargain you think with a foreclosure. Also, most homes owned by lenders or banks have been sitting vacant for months and may have been destroyed. That could require extensive renovation or repair. Weigh the costs of fixing up the property against the savings you’ll likely reap by buying a lower priced foreclosed home.

3. LETTING YOUR TRUE FEELINGS SHOW

No matter how much you have fallen in love with a house, don’t let the seller’s agent in on it. Otherwise, he will gain the upper hand in negotiations.

4. FAILING TO FIND A GOOD BUYER'S AGENT

Landing a mortgage is tough these days. So buyers should rely heavily on knowledgeable agents to help them get their finances in order. After all, buyer’s agents have a financial responsibility to the buyer exclusively and should be looking out for his best interests. Consider using an agent recommended by a relative or friend. Interview the candidates about their experience, ask if they have worked with first time buyers before and what kind of service you will get from them.

5. UNDERESTIMATING THE COSTS OF OWNING A HOME

Whether it’s a rusty pipe or a leaky roof, things go wrong and need to be fixed. Many homebuyers don't anticipate the additional costs for repair and maintenance, or for an increase in utility costs. Consider the age of your new home and how well it’s been treated by the previous owners in your budget. Be prepared to set aside a small percentage (1% at most) of the home’s purchase price annually for repairs and maintainance.


6. FAILING TO BUDGET FOR PROPERTY TAXES

Property taxes and the likelihood that they will climb over the course of your time in the house should be factored into any homebuying budget. To get an idea of how much you will be paying, call the local assessor’s office or talk to people in the neighborhood.

7. ASSUMING YOUR OFFER WILL GET ACCEPTED

As home prices get even more affordable, competition is bound to heat up. You can’t assume you will walk in there, make the offer and get it. Try not to get discouraged if you lose out on the first or second house you make an offer on.





8. SKIPPING THE INSPECTION

Before signing anything, hire a professional inspector, The seller isn’t likely to tell you there’s mold in the basement or the walls are poorly insulated. We advice buyers to find and hire their own inspector independently of the real-estate agent to ensure there’s no conflict of interest. You can find inspection companies in the phone book, or by doing a simple Web search with your ZIP code.

9. DOING TOO MUCH TOO FAST

Some buyers want to make the house their own right away. They over extend themselves on credit to do so, and assume the improvement will pay for itself by increasing the home's value. But that’s not always the case especially in today's market. Instead, buyers need to exhibit patience and make changes over time.




10. FAILING TO INCLUDE A CONTINGENCY CLAUSE IN THE CONTRACT

A mortgage financing possibility clause protects you if, say, you lose your job and the loan falls through or the appraisal price comes in over the purchase price. Should one of these events occur, the buyer gets back the money he used to secure the property. Without the clause, he can lose that money and still be obligated to buy the house.

Why Good Neighbourhood Is Important in RealEstate ?

Hey, its the 7th of august and we wish you a very pleasant month ahead and happy and safe property search. Over these days we have been thinking how neighbourhood affects a person's living so thought of writing our views about it. Well, everyone knows how education plays a role in everyone's life. These days in our country education has become a luxury than being a right. Everyone isn't so lucky to get education in India. So what happens to those who do not get proper education ? Where do they live ? Society is made up of individuals like me, you and others who procastinate or hesitate to accept such unfortunate people and throw them in a corner where they themselves develop their own worlds. Now we call them "BACKWARD" areas. Whose fault ? Society's of course. You know the sad part is, when you try to tell people about such social issues, instead of turning up they ask "Why should only i have to ?" and when someone alone tries to take the first step to do something good for them then the society circastically makes fun of them.

When such areas where the poor inhabit, People try to reside as far as possible from such localities. Automatically the prices of such areas come down. People who already invested in such areas incur huge losses and have to peddle their lands at very low rates. At the same time if at a remote place which is situated at outskirts of the city gets to build a multiplex or a amusement park, naturally the price of such areas starts hitting the skies. What real estate experts do here is they fetch the information about such constructions soon after the plan is out and purchase the lands nearby in plenty before the construction starts and when the such most talked about constructions come into action then they tend to sell these lands at a very high rate. 

Social responsibility is something which every individual has right after their birth. Government taxes the rich to cutback the difference between rich and the poor. Firstly every individual who is taxable should pay taxes and do good for the society by changing their mindset first that rich-poor doesn't go hand-in-hand. We keep cribbing about the reservations but we do not do anything for the backward classes so that even they can stand proud. Live at any place in your city, place doesn't matter, attitude matters and if you have the right attitude then my dear, you will never complain about things ever again.

Nest infratech, who are one of the emerging builders in India and abroad have properties all over the world for all classes. The company gives shape to some of the most ambitious and luxurious living spaces across the country.

We strive to turn dreams into reality and we know well the happiness one gets when he owns a home. We personally oversee each project to make sure that it adheres to the client’s original design specifications and reflects his lifestyle philosophy making the best use of the available space.

Green Building

A Green building is one which uses less water, optimizes energy efficiency, conserves natural resources, generates less waste and provides healthier spaces for occupants, as compared to a conventional building. Transformation of building homes from the old ways to eco-friendly ways is taking place a slow and steady pace. 

With the increase in population and lack of living spaces along with the increasing pollution rate has left humans with no other choices than to shift to a place which is far away or to build homes in a eco-friendly way. With the increase in land rates people are switching their minds from villas and bungalows to flats and apartments. There can be a lot of other reasons to choose flats and apartments as they provide a lot of facilities like swimming pool, security, gyms and many other facilities, getting which is more difficult in villas and bungalows. Social get together in apartments and flats is much more easier than in a private villa. So need for a eco-friendly building becomes more essential. 

A building is assessed based on its predicted performance over its entire life cycle. The stages identified for evaluation are:

Pre-construction: Intra- and inter-site issues like proximity to public transport, type of soil, kind of land, location, flora and fauna before construction activity starts, natural landscape and features.

Planning and construction: Issues of resource conservation and reduction in resource demand, resource utilization efficiency and recovery, reuse, and provisions for occupant health and well-being. Prime resources considered are land, water, energy, air and green cover.

Operation and maintenance: Of building systems and processes, monitoring and recording of energy consumption, occupants' health and well-being and issues that affect the global and local environment. The builders concentrate on the following things before building such homes.

1. Energy saving

2. Water efficiency

3. CO2 emissions reduction

4. Indoor environmental quality

5. Preservation of resources

6. Sensitivity to the impact of development on natural resources

Nowadays a lot of builders are emerging and among them is NeST Infratech. They recently finished their project on "KERALA'S FIRST GREEN TOWNSHIP" which focuses on building homes surrounded with eco-friendly elements, for example Coconut trees. This novel township comprises of architectural styles that includes Contemporary as well as Traditional Nalukettu Villas and Luxurious Apartments, ranging from 29 lakhs, The World sprawls over an area of 25 acres in the ever bracing surroundings of Alwaye.

Dream Home For Every Individual

Time has changed. The time has gone when people used to posses acres of land and used to "Live Life King Size".

 It is the time when you have a pay millions for a small piece of land. Getting a suitable location doesn't sync with your budget always so you go for outskirts of your city and reside there with a hope that some day there will be development in your area, by the time the area gets developed you reach at the age of 50. 

So getting back to the same, has the mother earth been already pre-booked by the millionaires and billionaires ? No land to build big bungalows and big mansions left so we can a huge number of people opting for apartments and flats.

Again there is a huge competition between builders. Good builders are those who do not compensate customer's needs so as to provide them apartments at less rates, good builders are those who provide fine quality homes with all amenities satisfying all the needs of their customers. 

They have to keep in their minds that they are building their customer's dreams not just houses with bricks and cement. NEST group strives at providing spaces which suits all income groups. Nest Infratech is the real estate and infrastructure development wing of the multi-billion dollar multinational company, the Nest. 

The company gives shape to some of the most ambitious and luxurious living spaces across the country. NeST Group is a multi-dimensional corporate with headquarters in Chantilly, Virginia and global offices in Europe, Japan, India, Middle East, and Australia.