For a lot of people, Mumbai is a dream city to live in. Real estate in Mumbai is termed as one of the most expensive markets in the world. It is a cumbersome task to search for the right flat in Mumbai which fits your budget, has all the facilities and is in a good locality. Buyers are now more particular about the specifics of a home. Likewise, real estate builders in Mumbai are coming up with projects, which can suit every kind of homebuyer. Yet, finding the perfect property for you and your family involves a lot of leg work.
Here we share some helpful tips for you to buy your dream house in Mumbai.
1. Decide The Budget
Your budget is the only thing that will define your house search. Everything depends on how much you can spend on buying a property in Mumbai. Real estate builders in Mumbai are now coming up with affordable housing projects so there is a very high probability that you can find a house, which fits your budget.
2. Select A Locality After Thorough Research
Having a house in a safe locality with schools, hospitals, good connectivity, etc is what you should look for. Along with this, you also need to look at the historic price trend for that locality. You need to do an ample amount of research regarding the locality. Residential projects in Mumbai now boast of having flats in localities such as Panvel, Thane, Bandra, Juhu, Cuffe Parade, Lower Parel etc. These are all upmarket localities in Mumbai.
3. Find The Right Broker
A Broker is your point of contact with the real estate market of Mumbai. He or she can give you the most helpful insights about the real estate market scenario, given that you have chosen a good and trustworthy broker. One smart thing to do is look for a broker from the neighborhood you want to buy your house in.
4. Choose a Builder with A Good Track Record
Once you have set your budget and are in contact with a broker, you need to see if the houses shown to you are from a good real estate builder in Mumbai. The builder should have a good record of accomplishment of projects. You need to check the quality of the infrastructure, the legal standing of the developer, etc.
5. RERA Certification of the Property
Real Estate (Regulation & Development) Act, 2016 has become a breather for property buyers in Mumbai. The sole motive of the RERA act is to protect the home buyers and rightly so. This act provides transparency in project making by making every property RERA registered. You need to look if the home you are interested to buy is from a RERA registered property site in Mumbai or not.
6. Have A Checklist
Make sure you have a well-defined and exhaustive checklist of all the things you need to go through while looking for a flat in Mumbai. Properties in Mumbai are the most sought after for homebuyers from any part of the country. When you zero in on a flat in Mumbai you need to look for a deal which is transparent and has the correct paperwork. Before you sign the sale deed you need to make sure every document and all the legal framework is in place.
Follow the above tips and make your home searching process a less tedious one. With the right broker and thoroughly research backed decisions, you are sure to get a good home for yourself in this city of dreams.