Buying a home is not a small feat especially if you are investing your life savings into it. This is a dream that many people desire to achieve but very few are actually able to fulfill it.
So, the very first step to turn this dream into reality, of course, is to manage the finances. Once you are able to do this, the actual process starts i.e. hunting the right property. The procedure is very detailed as you have to consider all the nitty-gritty details such as selecting the perfect location and choosing the right property. A minor mistake can land you in hot waters for the rest of your life.
Since many real estate developers in Mumbai are moving heaven and earth to make new projects, make sure to avoid these blunders when looking for property for sale in Mumbai. Continue reading!
While it may sound like a cliché but you need to set the budget before buying any property. The budget depends whether you want to invest in studios, apartments or villas in Mumbai.
This is a vital step when it comes to buying a home. So never be reckless while setting it. Be very practical, take into account all your expenses and then allocate a budget for your new home. Also, it shouldn’t be restricted to the estimated cost of the property only. You need to consider other things while allocating it. These include moving cost, utility costs, registration fees, any repair or overhauling cost of the new home etc.
Mumbai houses numerous communities. Most of them come with necessary conveniences that residents may require. Some areas also offer reasonable housing options that can suit everyone’s budget.
Buyers must make the right decision for the selection of the neighbourhood on the basis of proximity to the workplace, educational institutions and health care facilities.
Most buyers jump into the conclusion and book the property without securing loan approval from the bank. This can land you in a troublesome situation in the long run. So, you need to hire a specialized broker who can work through the documentation and assist you in securing the mortgage swiftly.
If you intend to buy a home from a well-known developer, chances are bright that you would be able to view the property first hand. If it is a resale, then don’t forget to consult with a professional home inspector. They will help you identify faulty fixtures, plumbing and electricity issues. Most reputed real estate companies perform this task for you.
It’s always a prudent choice to seek the help of a lawyer as well as a Real Estate Regulatory Agency-authorized agent. The agent will assist in previewing all the documentation work. Moreover, they will also carry through the deal to completion, down to ownership transfer.
Never make the blunder of investing in a property without doing any verification. This is universal advice that is not only applicable in Mumbai but every part of the world. Regardless of the fact you are buying a property from a well-known developer, make sure you have scrutinized the documents and done proper verification.
Although chances of becoming a victim of a scam or fraud are minimum in India, it’s always better safe than sorry.
In all, there are many new residential projects in Mumbai helmed by top developers. So, do your due diligence and then take a plunge!
Comentários
No Stickers to Show