Things To Consider When Buying A House in Mumbai
While talking about investments, the real estate market tops most of our list. Purchasing a new home or apartment is one of the most important decisions you will make in your life, and it is most likely an idea you have had since you were a child. But buying property in Mumbai is not as easy as it sounds — there are multiple layers of complexities in the process of buying home in Mumbai. It requires extensive research about the developer, their projects, amenities, location, connectivity, convenience etc. If you overlook any of these factors while buying a house you may sooner or later regret your decision.
Here are some factors you should consider thinking about if you are planning to buy a house in Mumbai:
1. Location
The most fundamental part to think about while buying a property in Mumbai is to finalize the location. It is important to look around the area where you are going to be eventually residing in. The apartment should be in safe and secure place. The location should have access to educational institutions, medical centers, shopping malls, workplaces, and other entertainment options. These factors will help you have a peaceful living in the house.
2. Finding a quality builder or a project
Mumbai is one of the most well-planned and favoured city to live in India and hence it is easier to find property options. Make sure you check for a builder’s background and previous project records. Look if the builder has received any sort of financial assistance from the bank as a bank will run a thorough background check before lending money. Also, check for the timely deliveries of the projects by the builders. Check for all the legal aspects of the property, make sure the builder or the project has all the necessary permissions from the government.
3. Smart homes, zero wastage
With work from home becoming a reality, it is crucial to look for houses that are we-planned and maximises space utilization. Ventilated apartments will tall windows that allows in fresh air and light, a balcony, smart plug points compatible for all your gadgets, proper storage area are a few things you must look for. Additionally, homes that provide smart home features — lights, audio speakers, TV, security camera, and more which can be controlled from your smart phone. Look for an apartment that will make your life easy and more enjoyable.
4. Well planned development
Look for a project that has a well-planned layout. If you are planning to invest in a ready-to-move-in or an under-construction project, look for the required details in the master plan. The project should feature open space that provision for play areas, senior citizen corners, clubhouse, gym, sports area, etc essentially amenities catering to all age groups.
5. Hidden or Additional charges
Make sure the documentation work that you do in the process of homebuying is read in detail and penalty clauses are understood. Additional expenses such as GST, registration charges, and all other charges should also be kept in mind.
It’s obvious from the above reasons to say that homebuying is a time-consuming process and should not be taken lightly. If you are planning to sell your home and buy a new one at the same time, get in touch with Homexchange with your requirements and the home expert will help you upgrade to your perfect home by instantly buying your existing home.
Homexchange has a team of seasoned professionals who know the industry and strive to offer you the best experience while selling your home and upgrading to a new one. Homexchange eliminates the hassle by making you a fair offer in just one visit. This empowers you to cut down on the waiting period and buy your dream home instantly.
