Purchasing a HOME / Flat...

We all have dreams to live a happy and enrich life. Buying a home/flat is one of the desire we all want. It involves a huge amount of money,make sure that right decisions and measures are considered.

The actual process of buying a flat is not very complicated. Even if you do not understand it, your seller will be more than happy to explain each and every thing to you. The difficult part is, knowing that you are not being "fooled" or "cheated" by someone.

When choosing the location of your home/flat,consider these questions:

- Nearby location for buying fruits/vegetables/eatables.
- Nearby doctor’s clinic or hospital nearby?
- Close to public transport
- Also consider distance from educational institutes /offices.
- Location / neighborhood.
- If the flat is on a high floor, is there a lift service( with generator backup) available in the building?
- Does enough sunlight come into the house/ Is there enough ventilation?
- What are the amenities the society is providing?
- What is the carpet area/ actual living area.

The builder might tend to design the flat such that the bathroom is close to the kitchen. This is done to reduce plumbing costs. But this tends to clutter up the house and reduces the ventilation of other rooms of the house. Make sure that this is not the case.

It would be a good idea to check up on the quality of construction and do the background verification of builder.

Check with Home loans.Best way to compare offers: Go to the different institutions providing housing loans and ask them to calculate and give you the “net” amount of money you will have to pay over the time - in terms of interests and EMI.We must negotiate. Also choose "fixed" or "floating" interest rate!

Before making final decision to buy property, make sure that the land on which the property is being built, is free of any legal problems.

HIDDEN COSTS : We have to pay a "stamp duty" of approx of 6% to 12% of the total cost of the sale. Besides that,registration fees. All these will increase the total cost. There will also be "maintainance costs", property taxes...and many other minor things. Negotiate on the basis of these things and get complete break up of all the prices involved.

HAPPY HOME...