{"id":10975,"date":"2023-08-28T13:17:39","date_gmt":"2023-08-28T13:17:39","guid":{"rendered":"\/blog\/?p=10975"},"modified":"2025-02-06T14:47:02","modified_gmt":"2025-02-06T09:17:02","slug":"house-hunting-mistakes-to-avoid-when-searching-for-your-dream-home","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/loan-for-home\/house-hunting-mistakes-to-avoid-when-searching-for-your-dream-home\/","title":{"rendered":"House hunting mistakes to avoid when searching for your dream home"},"content":{"rendered":"\n

One of the most\nimportant decisions you will make in life is the buying of your dream home.\nThis can be challenging and nerve-wracking. Buying a house is a crucial\ndecision that will have an impact on the entire family\u2019s financial\nfuture. <\/p>\n\n\n\n

It is therefore\nessential to be rational and not get swayed by fancy sales pitches or lucrative\n\u2018short-sighted\u2019 deals. Here are some common house hunting mistakes you\nshould be wary of:<\/p>\n\n\n\n

Not knowing your eligibility<\/h2>\n\n\n\n

Even before you start looking for a house, you need to check your home loan eligibility<\/a> with a reputed financial institution. After assessing your credit score<\/a> and income potential, the lender will be able to offer you a ballpark estimate based on the prevailing interest rates. <\/p>\n\n\n\n

Considering this\nloan will be 85% to 90% of the property value (after down payment), it can help\nyou understand the type of houses and neighbourhoods you can afford.<\/p>\n\n\n\n

Additional Read:<\/strong> Check Your Eligibility and Documents Required for\nHome Loan<\/a><\/p>\n\n\n\n

Not sticking to a budget<\/h2>\n\n\n\n

Brokers will\nalways try to upsell a more expensive option for their own commission, asking\nyou to be a little \u2018flexible\u2019 about buying your dream home. However, you need\nto be very careful about how far you can go. Remember, even a slight increase\nof Rs 10 lakh in your budget will cost you an additional Rs 8.9 lakh as\ninterest with a standard 9% loan for a 15-year tenure.<\/p>\n\n\n\n

Always use a home loan EMI calculator<\/a> and manage your\nbudget right.<\/p>\n\n\n\n

Not factoring all costs <\/h2>\n\n\n\n
\"Manage<\/figure>\n\n\n\n

The budget\nincludes the down payment you can make, the home loan required, and other\nassociated costs such as interest, processing fee, property registration\ncharges, brokerage, insurance, etc. <\/p>\n\n\n\n

Often,\nfirst-time homebuyers merely look at the price of the property without\nconsidering the other costs. Not accounting for these expenses can put you in a\nfinancially tight spot even before you start your home loan repayment.<\/p>\n\n\n\n

Additional Read: <\/strong>First\nTime Home buyer? Here is your guide to your dream home<\/a><\/p>\n\n\n\n

Getting tempted by offers<\/h2>\n\n\n\n

Offers like \u2018free\ngold coin\u2019, \u2018waiver of stamp duty\u2019, \u2018x% cashback\u2019, etc. advertised as \u2018limited\nperiod offers\u2019 are common these days for under-construction properties. Do not\nbe baited by these eye-pleasing offers and commit to a deal that could be\nexpensive for you in the long-term.<\/p>\n\n\n\n

Taking too little or too much time to close a deal<\/h2>\n\n\n\n

Spend enough\ntime researching every aspect of a house hunting checklist. Factors like the neighbourhood,\navailability of resources, maintenance cost, condition of the property, clear\ntitle and governmental permissions, etc. should be assessed.<\/p>\n\n\n\n

Haste could lead\nto rude shocks. At the same time, going too slow can affect other parameters\nlike escalating property cost or interest rates.<\/p>\n\n\n\n

Not partnering with the right home loan financing company<\/h2>\n\n\n\n

A home loan is a long-term commitment. Other than affordable interest rates, you also need to look for transparency in charges, speedy disbursal and robust customer support for resolving queries. Additionally, a trusted home loan partner like Tata Capital offers a range of services such as flexible EMI options, insurance advantage, optional top-up loans, and more, so nothing comes between you and your dream home. Download Tata Capital’s Home Loan app<\/a> to learn how to avoid common house-hunting mistakes when searching for your dream home!<\/p>\n\n\n\n

Apply For House Loan<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

One of the most important decisions you will make in life is the buying of your dream home. <\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":10976,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-10975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-for-home"],"yoast_head":"\nHouse Hunting Mistakes to Avoid while Searching for your Dream Home - Tata Capital Blog<\/title>\n<meta name=\"description\" content=\"Looking for a new home? Here are top house hunting mistakes to avoid while searching for your perfect dream home. Click here to get all details about house hunting!\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House Hunting Mistakes to Avoid while Searching for your Dream Home - Tata Capital Blog\" \/>\n<meta property=\"og:description\" content=\"Looking for a new home? Here are top house hunting mistakes to avoid while searching for your perfect dream home. Click here to get all details about house hunting!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/house-hunting-mistakes-to-avoid-when-searching-for-your-dream-home\/\" \/>\n<meta property=\"og:site_name\" content=\"TATA Capital Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-28T13:17:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-06T09:17:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/08\/Top-House-Hunting-Mistakes-you-should-Avoid-while-Searching-for-your-Dream-Home_1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tata Capital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tata Capital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/house-hunting-mistakes-to-avoid-when-searching-for-your-dream-home\/\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/house-hunting-mistakes-to-avoid-when-searching-for-your-dream-home\/\",\"name\":\"House Hunting Mistakes to Avoid while Searching for your Dream Home - Tata Capital Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\"},\"datePublished\":\"2023-08-28T13:17:39+00:00\",\"dateModified\":\"2025-02-06T09:17:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\"},\"description\":\"Looking for a new home? Here are top house hunting mistakes to avoid while searching for your perfect dream home. Click here to get all details about house hunting!\",\"breadcrumb\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/house-hunting-mistakes-to-avoid-when-searching-for-your-dream-home\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/house-hunting-mistakes-to-avoid-when-searching-for-your-dream-home\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/house-hunting-mistakes-to-avoid-when-searching-for-your-dream-home\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.tatacapital.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"House hunting mistakes to avoid when searching for your dream home\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/\",\"name\":\"TATA Capital Blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.tatacapital.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\",\"name\":\"Tata Capital\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g\",\"caption\":\"Tata Capital\"},\"sameAs\":[\"https:\/\/tata-blog.osian.dev\/blog\"],\"url\":\"https:\/\/tata-blog.osian.dev\/blog\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"House Hunting Mistakes to Avoid while Searching for your Dream Home - Tata Capital Blog","description":"Looking for a new home? Here are top house hunting mistakes to avoid while searching for your perfect dream home. Click here to get all details about house hunting!","robots":{"index":"noindex","follow":"nofollow"},"og_locale":"en_US","og_type":"article","og_title":"House Hunting Mistakes to Avoid while Searching for your Dream Home - Tata Capital Blog","og_description":"Looking for a new home? Here are top house hunting mistakes to avoid while searching for your perfect dream home. Click here to get all details about house hunting!","og_url":"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/house-hunting-mistakes-to-avoid-when-searching-for-your-dream-home\/","og_site_name":"TATA Capital Blog","article_published_time":"2023-08-28T13:17:39+00:00","article_modified_time":"2025-02-06T09:17:02+00:00","og_image":[{"width":770,"height":400,"url":"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/08\/Top-House-Hunting-Mistakes-you-should-Avoid-while-Searching-for-your-Dream-Home_1.jpg","type":"image\/jpeg"}],"author":"Tata Capital","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tata Capital","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/house-hunting-mistakes-to-avoid-when-searching-for-your-dream-home\/","url":"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/house-hunting-mistakes-to-avoid-when-searching-for-your-dream-home\/","name":"House Hunting Mistakes to Avoid while Searching for your Dream Home - Tata Capital Blog","isPartOf":{"@id":"https:\/\/www.tatacapital.com\/blog\/#website"},"datePublished":"2023-08-28T13:17:39+00:00","dateModified":"2025-02-06T09:17:02+00:00","author":{"@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a"},"description":"Looking for a new home? Here are top house hunting mistakes to avoid while searching for your perfect dream home. Click here to get all details about house hunting!","breadcrumb":{"@id":"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/house-hunting-mistakes-to-avoid-when-searching-for-your-dream-home\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.tatacapital.com\/blog\/loan-for-home\/house-hunting-mistakes-to-avoid-when-searching-for-your-dream-home\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/house-hunting-mistakes-to-avoid-when-searching-for-your-dream-home\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.tatacapital.com\/blog\/"},{"@type":"ListItem","position":2,"name":"House hunting mistakes to avoid when searching for your dream home"}]},{"@type":"WebSite","@id":"https:\/\/www.tatacapital.com\/blog\/#website","url":"https:\/\/www.tatacapital.com\/blog\/","name":"TATA Capital Blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.tatacapital.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a","name":"Tata Capital","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g","caption":"Tata Capital"},"sameAs":["https:\/\/tata-blog.osian.dev\/blog"],"url":"https:\/\/tata-blog.osian.dev\/blog\/author\/admin\/"}]}},"featured_image_url":"https:\/\/tata-blog.osian.dev\/blog\/wp-content\/uploads\/2020\/08\/Top-House-Hunting-Mistakes-you-should-Avoid-while-Searching-for-your-Dream-Home_1.jpg","_links":{"self":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/10975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/comments?post=10975"}],"version-history":[{"count":6,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/10975\/revisions"}],"predecessor-version":[{"id":47733,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/10975\/revisions\/47733"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/media\/10976"}],"wp:attachment":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/media?parent=10975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/categories?post=10975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/tags?post=10975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}