logo logo
Privacy Policy

Most Common Problems New Home Buyers Face face

Buying a new property, be it a home or an investment is anything but a cakewalk. For most of us, it's a lump sum investment and there's a dream attached to it. Have you had any problems purchasing a new home? If that's the case, you're not the only one.

According to a new study, most house buyers experience problems when buying a property and it’s rarely smooth sailing. Here are some of the most common problems real estate buyers might encounter:

1. The chain of buyers

The most probable explanation for a delay in the purchase or sale of a property is that each link in the chain moves at a different rate. While some first-time buyers may be eager to close the paperwork quickly, others may need more time and help to get through these preliminary steps. This usually causes haste and can often take time to collate. This reason sums up almost 19% of all the problems faced by home buyers.

2. Finding the right property

18% of the total real estate buyers face difficulty finding the ideal property, especially first time buyers. Considering the location and amenities play a vital role here. The adage "location, location, location" is still king and continues to be the most important facfirst-timetor for profitability in real estate investing. Always remember that the idea of the perfect property changes with every individual's perspective.

3. Problems with mortgage

They say the road to homebuying is mostly riddled, especially the one with mortgages and bank loans. You are more likely to stay out of financial difficulties if you can prevent issues that may arise when you apply for a mortgage. Almost 10% have faced issues with mortgages and federal loans.

4. Expectation vs reality

It happens most that you expect something later, and reality then disappoints you. Let it be the amenities, the interior, or worse, the termite situation. To avoid such situations, make sure you visit the place multiple times and check the quality of everything possible. Almost 15% of buyers face problems in similar circumstances.

5. Difficulties with the conveyancer

Almost 10% of the buyers experience issues and delays in the conveyancing process. However, you can always have your lawyer limit the chance of problems occurring and deal effectively with any issues that do arise to prevent them from escalating. It is important to be aware of the potential pitfalls and be ready with solutions. Delayed payments, property issues and offers can be the most frequently occurring problems.

6. Last minute problems

The final ones are the last-minute problems that comprise around 5% of the issues. The encountering of problems on the final day is often caused due to communication mishaps, confusing paperwork, funding delays or alteration of documents, the possibilities are truly endless.

The process of buying a home or a property is something that doesn't happen so frequently, so it certainly needs a lot of planning, searching, networking and more importantly patience. Similarly, there can be other problems as well, the ones we didn't mention, like the cost of appreciation, bad credits, and false promises by the builders.

We have the ideal solution for you, homes that suit you and your family the best in Golden Mile, Kokapet at The Trilight by Dé BlueOak Constructions and P. Mangatram Developers. With the TATA group being our Project Management Consultancy (PMC) and JMC being our Contractor, our commitment to quality ensures our customers get the best investment and a luxurious lifestyle. The Trilight embodies luxury, togetherness, and refined sophistication in Hyderabad, influenced by European aesthetics.

For more information visit our website