House hunting for beginners is an exciting yet daunting journey. For many, it's a significant milestone in life – finding that dream home, the perfect space to call your own. However, as most people hunting for a house soon realise, the journey from expectation to reality can be full of surprises.

In this article, we'll explore some of the most common expectations about house hunting and the realities that follow.

House Hunting Dilemma: Expectations vs. Reality

1. Expectation: The Perfect House is Easy to Find

Before even starting hunting for a house, you’d have the expectation that the perfect house is just around the corner. You imagine browsing through numerous listings and finding one that checks every box from location and pricing to amenities and overall appeal.

Reality: You Have To Make Compromises

While it’s tempting to think that your dream home is readily available, the truth is often more complex. You may have to make compromises, such as choosing between a spacious kitchen and a larger garden, or opting for a slightly older property in your preferred location.
Make a list of key features that are non-negotiable and be prepared to adjust other preferences based on your budget and available options.

2. Expectation: The Perfect House Will Be Within Your Budget

It's easy to assume that the property you have in mind will fall neatly within your budget. After all, you’ve done the math, and you know what you can afford. When you begin your search, you likely stick to a price range, hoping that there are plenty of options available within that limit.

Reality: Property Prices Are Often Higher Than Expected

The reality of hunting houses can be jarring when you find that properties are often priced higher than you expected. While you may have a set budget in mind, various factors like market conditions, location, and the state of the property can all influence the final price.
Include flexibility in your budget. Add a buffer for unexpected costs, consider negotiating with sellers, or explore emerging neighbourhoods that offer better value.

3. Expectation: The House Is Ready to Move In

One of the most alluring aspects of house hunting for beginners is the dream of purchasing a home that’s ready to move into immediately. Ideally, you want a home that requires minimal work – a place where you can settle down as soon as the deal is final. You imagine moving in, unpacking your stuff, and enjoying your new space without any major hassles.

Reality: You May Need to Invest in Repairs and Renovations

In reality, however, even homes that seem perfect on the surface may require substantial work before they are truly “move-in ready.” Whether it's updating the kitchen, replacing the flooring, or fixing plumbing issues, there are often hidden problems that only become apparent after you've committed to the property.
Factor in the costs of repairs when evaluating properties, and get a professional inspection to understand the full scope of work required before making a final decision.

4. Expectation: Home Loans Are a Never-Ending, Complicated Process

Many first-time buyers believe that getting a home loan is an overwhelming, time-consuming process. The thought of navigating through options, paperwork, and eligibility criteria can seem daunting.

Reality: Applying for Home Loans Is Quick, Easy, and Convenient

In reality, applying for a home loan has become simpler than ever. With many lenders offering online applications, you can easily compare loans based on factors like interest rates, eligibility requirements, and flexibility in repayment tenures. Once you find the right lender, applying online is easy provided you have the required documents at hand.

5. Expectation: You’ll Have to Wait Forever for Loan Approval

One common concern when applying for a loan is the wait for approval and disbursal. The idea of delays and complications can make the home-buying process feel uncertain.

Reality: Experience Swift Loan Processing

Online loan applications with reputed lenders are processed swiftly, provided you meet the eligibility criteria and submit all necessary documents accurately. This means you can secure financing faster than ever before, reducing uncertainty in the buying process.

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Conclusion

Homebuyers may get into house hunting with a lot of expectations but encounter plenty of surprises along the way. While the process may not be as easy or straightforward as imagined, it is still a rewarding and significant milestone in your life.

At SMFG Grihashakti, we understand that hunting houses can be both exciting and overwhelming. To help make the process easier, we offer home loans of up to INR 1 crore* with flexible tenures of up to 30 years* and interest rates starting from just 10%* per annum. Check out our straightforward home loan eligibility criteria and apply online today to take the next step toward your dream home!