subject: Tips For Buying A Used Home In Mumbai [print this page] Buying a used home in Mumbai is a thrilling yet challenging affair. You must keep yourself fully equipped as there are many aspects to home buying. The core mantra of buying a home in Mumbai is going for the property that doesnt break your pocket. Buying a home in Mumbai is an extremely costly affair. The situation gets even tougher when you are concentrating your purchase around certain areas.
1.Know Your Budget Clearly, have a fair idea on how much you are going to spend on your purchase. In case you are going to procure a home loan, have your documents ready and beforehand discuss with a financial advisor on how much loan can be sanctioned to you on the basis of your current financial assets. High amount home loan is a long terms liability that also gives a lot of psychological pressure. You must make maximum possible down payment and thence keep least possible EMIs for an easy going long term loan disbursement.
2.Home Search & Identification This is a very crucial one. Your whole life is centered on your home that perfectly answers to all your needs. You choose a good home, it may be expensive but if it perfectly caters to all your needs it is certainly worth it. However if you choose the wrong property your whole investment goes upside down. The mantra of a successful purchase lies in selecting the right home that has the best suited location, sturdy infrastructure and falls within your budget. Try http://www.indiahomes.com/india-properties/Mumbai-Properties.html for searching properties in Mumbai.
3.Neighborhood & Locale As they say in real estate that homes are valued by its location, location and location, you must know the neighborhood and locale of your most desired home. Investigate the neighboring area. Though Mumbai is perceived to be a safe city, round the clock, you can inquire for the local crime rate from the neighboring police station. Check how far it is from the places you or family shall visit on everyday basis like distance from work/office, school/college, markets etc.
4.Structural Elements & Architecture It is very important to carefully examine all the structural elements and architecture of the house when buying a used home in Mumbai. You can take the help of a professional architect and have him/her minutely examine its walls, foundation, flooring, fittings, fixtures etc.
5.Home Interiors Having adequate storage space is very necessary for a comfortable living. Usually old Mumbai properties had fewer provisions for long cupboards in the rooms or in kitchen. Check if there are provisions of customization and new smart cabinets and fixtures can be built later on to answer to your future storage needs. You can discuss these details with your designer and have your interior redrafted to accommodate your newer needs.
6.Amenities Check if all the shortlisted housing society has added amenities like club house, gymnasium, swimming pool, play ground, joggers park etc. for the residents. You must also check whether the home seller has its lifelong membership or else youd have to incur additional expenses to avail these facilities.
