First Time Home Buyer: Sowmya K
We’re always eager to hear about how real people bought their first home and what worked for them.
This week, we’re featuring Sowmya K , who was able to buy her first home on her own, after initially planning to buy with a partner. Here’s her story:
Sowmya K a Native of Tumkur and Currently working with JP Morgan chase, An American Multinational Finance Corporation with its office located at Bellandur on Outer Ring Road
Mrs Sowmya has been staying in Bangalore for more than a Decade and being a Financial Analyst herself she always believed in Intelligent Investments in the Financial and Stock Market for a Long time
Staying in a Normal 2 BHK Flat along with her Husband Mr Madhu who just recently ventured in to a startup as a Founder, things seems to be right for the past 7 years staying in the same place untill one fine day the Landlord of the flat decided to sell it off and the Family was given a 3 Month notice period to vacate, Since they have located this house long back, they did not have an idea, The World outside their apartment has changed Drastically, Rental rates have increased, and though they were ready to give the required amount still the Landlords were too demanding, they have their own set of rules Imposed on them ( First Time Home Buyer: Sowmya K )
From Enjoying the Best days all of the sudden it felt like the world has come crashing on them and that day they decided to own a Home and initially wanted to book a flat and Sowmya did the Survey of almost all the localities close by to the office, She visited N Number of Projects in Bellandur, Sarjapur, Sarjapur Road, Sarjapur- Attible Road, varthur, Channsandra, Whitefield and others, though she was able to zero down one apartment complex which matched all her requirements the Family was against the Idea !
Her Family hailing from a very Traditional town was in a feeling like though you own the apartment but it still gives a feeling of a Rented Home, The Family was against the Idea of Sharing the walls with other Flat owners, Your roof is shared, your Gound is some one else Ceiling, You share the lift, You share the corridor, you share the Staircase, you share the terrace, the compound everything ? so what is Exclusively yours was the question that Sowmya did not have the answer
So She started looking for the Plots, she got several offers from many Realtors, Builders, But the Problem with the Plots is The People who have purchased the plots have no Intention to build the houses in the near future, and the Layout or the Gated community is left deserted and after a prolong time these layouts have Practically become inhabitable to live in as no Social Infrastructure is developed close by
And Moving Further Mrs Sowmya started looking out for the Villa Community, The Villas offered were actually Nice, Good Floor plan, Fine amenities , Nice Ventilation, Fantastic Neighbours, Ideal destination, Everything seems to be okay until i got to the Price tag – Minimum 2.5 crs and above which was way beyond my Budget and one day finally i came across the Advertisement of the Project Republic of Sarjapur
Though the Project Republic of Sarjapur is in a Very Initial Stage, But still the location and the Environment Surrounding the Project is Promising, with a Large and expanse area of 45 acres and an approx 1000+ Villas in the project will for sure bring a Revolution in terms of Living and the Social Infrastructure and the BMTC Bus no 342 Y already at the Project gate will for sure make a difference, And the Payment plan adds the ease and removes an Additional burden for any Home buyer
Speaking Further Mrs Sowmya said My circumstances changing during the process came with positives and negatives. When I was looking at larger properties, however I was having to compromise on quite a lot of things I wanted, which was quite frustrating!
Buying on my own gave me the freedom to choose what I really wanted, and also let me use my imagination and visualise how I could make my property really mine! If anything, I did also find a bit of stress taken out as I only had to worry about myself and my own finances and credit score as opposed to also worrying for someone else!
The best thing about owning my new home is freedom! I don’t have to ask about having a pet, and I can paint my rooms if I want to and have no one to answer to! I also like that I’m no longer stressing about if my landlord is going to want to come over or give me my notice at any moment.
Advice I’d give to other First Time Buyers would be to research and have an idea of what exactly you need Right within your Budget, Though the Real Estate Mangers i met are amazing but still I did feel pressure to quickly source information and make the decsion and Hope to move in by God`s Grace in Next 2 Years!
First Time Home Buyer – Stories at Prop Headlines
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