House hunting is exciting, exhausting, and a little scary. The aim, almost always, is to find a home you love that falls within your budget. Many first time homebuyers, however, take steps that push them farther away from this dream. When looking for properties from the top real estate developers in Pune or elsewhere is to be armed with the right strategies and tips. Here is a list of five tips that will help you avoid making costly mistakes:

1. Know What You Can Afford

What you want and what you can afford may not always be the same. Therefore, before you start looking for a house, it’s best to have a budget. List out your monthly income, expenses, vehicle costs, loans payments, credit card payments, insurance, and so on. Subtract these figures from your total income, and you’ll have the amount you can spend on your home each month.

2. Look For The Right House
When looking for a house stick to properties that fall within your financial neighbourhood. Looking for a home outside your price range can be dangerous because it could lead you to stretch your budget beyond what you can afford or can cause you to feel unsatisfied with what you can easily afford.

3. Don’t Be Too Picky
First-time homebuyers usually have a long wishlist; however, it’s essential that you allow for some flexibility in your list. You may have to compromise on certain aspects because of budget constraints. For instance, you may have to live on a busy street, forgo the extra bedroom, and maybe even skip out on certain amenities. If you are looking to be a homeowner right away, you may have to let certain desires go.

4. Don’t Cave on Important Things
In addition to the point above, you will need to make a list of things you cannot compromise on. For instance, don’t settle for a 1 BHK if you know you are going to have a baby and need two rooms. It’s important to make compromises when buying your first home, but don’t make compromises that will turn into burdens later.

5. Think About The Future
Predicting the future of a neighbourhood is impossible, but it’s essential to choose a location that will see growth in the future. A good locality ensures that your property rates also grow year on year. If you decide to move to another house a few years down the line, your current property should bring in significant monetary value. Therefore, take note of the information that is available to you so that you avoid any unpleasant surprises down the road.

All in all, buying a first house is stressful and even overwhelming. However, if you can avoid common pitfalls, you can protect yourself from losing large sums of money.