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We must also not forget about the stress involved in moving to a new location. After all, one is leaving familiar surroundings and neighbours behind for good. Simultaneously, it often becomes necessary to get acclimatised to a new area where everyone is a stranger.
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What are some of the most difficult and emotionally stressful experiences in any person's life? We can easily list the top four:
As a matter of fact, it is not just the process of buying a new home that can be stressful. Even leaving the old self-owned home behind can take an emotional toll. The questions we tend to ask ourselves are:
What we do have control over is preparing ourselves for our new home. When the time finally comes to sell your old home and buy a new one, you obviously have to face the situation squarely and proceed. But the experience of buying a home need not be as stressful as it often is.
Planning the process carefully gives you a psychological edge, removing a lot of the strangeness and frustration. Such planning makes sense in two other significant respects:
Conducting a carefully organized market survey can result in considerable savings, both in matters of finance and heartache. You can contact a real estate agent, place your requirements and budget before him, and allow him to conduct the search. You can (and should) actively assist him in this, but be open to all options that come your way and do not make impulsive decisions. New homes should be bought with the head and not the heart.
Another aspect of effective home buying is considering all the expenses involved - not just the price of the new residence. There will be a lot of extra costs to consider - down-payment, stamp duty and registration charges, brokerage, electricity meter charges, legal costs, packing and moving, housing loan EMIs (if you have taken a housing loan), etc.
Preparing for all expenses gives you a clearer idea of what you are doing, what you can genuinely afford, and in which areas you may have to restrict spending money for a while after the home is bought. All things considered, proper planning will put you more in control of the situation, making the stress of home buying easier to handle.
READ MORE ON Kishor Pate, Amit Enterprises Housing, planning, EMIs, housing loan, Transforming India
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