Buy or rent, a home is a home. Period

The general impression people have is that homeowners are happier than those who lived in rented homes. This is a misplaced perception, apart from the asset creation bit, in both cases the security the home offers is the same. Home owners are responsible for every small bit of maintenance the home needs while the renters can simply rely on the landlords to get the job done. The joy of owning a home however is bigger which the renter may miss out on. All in all, the score looks balanced at least at this stage.

Choosing your paint carefully

Colours are long known to have an effect on our moods and this could be directly proportional to the happiness index. Various studies conducted worldwide have shown that the colours green and yellow induce a feeling of happiness and joyousness so make sure these colours are included in your choice of colours for the home. Consider green for your bedroom to enhance a feeling of tranquillity and comfort while yellow is a safe bet for a study or kids’ room due to its power to boost creativity and liveliness. 

Reduce the travel time

Seems like a long shot, doesn’t it? Commuters of metro cities will agree that travel is an integral part of city living and cannot be avoided. Long travel does impact the overall mood and could lead to lower levels of joy and happiness. So remember, the less you commute, the happier you will be.

Keep your home clutter-free

A cluttered, crowded home will lead to an increase in irritation levels as women are highly affected by the mess that lies around while men somehow manage to reach for the remote, albeit with some additional effort. A clutter-free home gives a feeling of cleanliness and hygiene thus keeps your young ones free from allergies and the parents worry free. Cleaning out unwanted stuff from the loft, balconies and from under the bed leads to a lot of extra space that can be utilised for other important things.

Thinking of renovations? Do it ASAP

Who doesn’t want a furnished home? Broken bathroom tiles or a dull paint-job could lead to relationship issues as an unhappy home could relate to an unhappy spouse. Take that decision to redo your home today before it affects your family life. Home improvement projects take forever and experience says it is wise to begin at the earliest to get the most out of your home and your relationships too. Studies say a perception of living in a dowdy home can point towards a feeling of unhappiness and being imperfect. 

Got a Home Loan? Pay it off if possible

Getting a home loan may have become easier nowadays but the pressure of a mortgaged home could get to you over a period of time. Pay off by saving on the side and you will enjoy what they call a “weightless” feeling. So watch your mood elevate to unknown heights as the loan amount reduces and vanishes.

Get to know the neighbours

Various studies have pointed out that if one is friendly towards neighbours and is known to engage in a regular, unforced conversation with them, they are happier and joyful. Urban lives become lonelier by the day and a bit of social interaction never hurts. Interacting with next-door neighbours or short conversations can lead to a general feeling of happiness and belonging. You could organize a small get-together or attend the society meeting if you are new around and watch the transformation. Take every opportunity to get acquainted with the people who you come across every day and increase the happiness quotient by a few levels.

Assess your needs carefully: As a first time buyer, you should make a detailed assessment of your need for space, especially since you will be presented with a large number of great-looking options. For example, you should decide on the floor if you have narrowed down on a property in a high-rise tower. The size of your family and its growing needs will help you to understand if you need a 1 BHK or a 2BHK. 

Select the right location: This is certainly one of the most important criteria before narrowing down a property as you will probably live here for the next decade or so or maybe a lifetime too. Your office, your spouse’s workplace and your kids’ school, not necessarily in that order, should be within manageable distance from your home as this will reduce a lot of stress and save travelling time. The railway/metro station, bus connectivity and available of private transportation should ideally be available in the vicinity. Supermarkets, daily convenience stores, banks, ATMs, medical facilities etc. should be nearby too. If all of the above can be ticked off your list, you have probably arrived at the right location for your dream house.

Budgeting: Take a long hard look at your present household income and your investments before applying for a housing loan. Make sure that you will not spending more than 30% of your total household income on the EMI and your savings plan for the future won’t be affected in a major way. If you exceed your budget by a small margin, brainstorm on how you could narrow down this gap. Can you or your spouse take up a part-time job to supplement the current income? A well-thought budget is the key to a secure future for first time home buyers and needs a careful assessment before you handover the cheque for down-payment.

Check actual affordability: If you fail to factor in the expenses that you will face after the home has been bought, you are bound to lose sleep over it. Keep an eye on future expenses and consider various expenses like monthly maintenance, property tax, water charges and home maintenance. Take your decision only after you have assessed all these points and compared them against your household income to arrive at a realistic decision. Apart from these, there is furniture to be made, painting or wall-papering to be done, home appliances to be bought and a million other things that will need your attention.

Spend time discussing these three important tips with your parents or spouse before buying your home and you won’t regret the effort you put into it. Delay the decision if you are not ready financially or emotionally, but do not decide in a rush as you may have to repent later. Ask for advice wherever needed and speak to experts in this area to take a well-informed and real-world decision.