Tips for buying Real Estate

Best time to buy real estate in Navi Mumbai

Get more bang for your buck

In the current economic situation, every penny counts.  We know you’re not going to throw away your precious money on unreasonable property deals in Navi Mumbai area. You’re likely to study the real estate market and make an informed decision.  Here you will find tips which can help you , so that you don’t end up spending more than you ought to:

Research Property Market in Navi Mumbai

For starter, you need to look around and not get swayed by what your chacha-chachi, mummy-daddy,  seem to think about a certain house that you have seen.  Scan properties across Navi Mumbai, so that you can weigh your option before you buy the property.  If you’ve got the luxury of time, we suggest you dig into property magazines, newspapers, real-estate brochures to find out about the availability of flats, apartments and office premises.  Then do a research of the area and the properties over the weekend.  This way you will be saving on the real estate agent’s fee.

Opt for an under-construction flats

Many new buildings and apartment complexes are being built in Navi Mumbai.  When you invest in an under-construction flat, you end up paying lesser and you also don’t have to mobilize big bucks at one go.  You have to make regular payments when the foundation of a certain storey is laid.  But make sure you opt for a reputed builder because investing in an under-construction flat can be otherwise dicey.

Get home loans

We suggest you study the various home loan rates and structures offered by different banks.   In India, the rate of interest offered by cooperative or nationalized banks is generally lower than that of private banks.  Don’t blindly go to your bank just because you’ve been their customer since childhood.  Know your numbers before you finalize on the bank.

Buying property in bulk

When you buy property in bulk, you are bound to get a better offer from the builders and real estate agents.  Try to convince your relatives or friends to buy a house in the same building.  Most builders give a substantial discount in the case of bulk buys.

Spending on apartment interiors

If you’ve made corrected efforts to cut cost and save on the home, don’t blow it all up by opting for lavish, exorbitant interiors for your apartments.  Stay within your budget and try to maintain a two months EMI amount in your account.  Those cash reserves will come in handy later.