Real estate brokers are people we cannot escape if we are planning to shift our residence. So, the first point of contact is the Internet where we try to target and shortlist some of the top sites which offer the contact details of brokers, builders or maybe owners of the house. Once you fill up the details you will start getting calls from different agencies or brokers who can offer you many options to choose from. So, let’s see what tips you should keep in mind before buying an apartment from a real estate broker.
Finance: pre-approved home loans (and downpayment)
Having pre-approved home loans before you start looking for a property widens your chances of the best deal and best interest rates. Getting pre-approved means the bank has looked at all of your financial information along with the properties you already own, or your salary status Learn about processing fees and make sure there aren’t any hidden costs in the loan. Down payment is the initial payment one needs to make after securing a property. It’s common to put 20% down, but many lenders allow even less than 20%. Just make sure you have the down payment ready.
If you are someone who is new to Kerala and is ready to occupy flats in Cochin, then such decision should be guided by a good buyers’ agent. This buyer agent knows the market and helps you find a property that meets your required criteria. They also compare prices and lets you have a flat which is affordable for you.
Everyone who is involved in buying and selling of their house is involved in real estate investing, that being said, before buying the house, the buyer should always keep the future aspects of property sales in mind. The buyer should ask questions to themselves like, will the house value will rise in the coming years? if a mortgage is considered, how will interest rate and taxes affect you in the future?
Before buying an apartment you should know about RERA: Seeing the discrepancies in the real-estate allotment and procurement processes, Parliament of India in the year 2016 launched the Real Estate Regulatory Act 2016. It has been clearly mentioned in the RERA Act 2016 that ‘the developer cannot make any changes to the plan that had been sold without the written consent of the buyer’. Earlier this was often hidden by the seller, keeping the buyer uninformed. Likewise, there are many similar rules and laws set up by RERA and varies accordingly with States and Population Density.
Carpet Areas and Super Areas
There is a difference between Carpet Areas and Super Areas. The charges for the property is calculated on the basis of Carpet Areas but at the same time, Super Areas should also be taken into consideration. The broker will avoid telling you that because Super Areas are comparatively higher than Carpet Areas.
Amiability of the area
Once you’ve sorted your financing options, it is time to start looking for houses. Contact your real estate agent or you could visit http://www.tritvam.com/contact/ to get the best deals for ready to occupy flats in Cochin, Kerala. Tritvam offers a wide range of variety for buyers to choose from, along with best deals on all properties. Visit http://www.tritvam.com/virtual_tours/show_apartment_tours/ for a virtual tour for a world-class living in Kochi’s most coveted address.
The final task would be to sign a ton of paperwork. Make sure the paperwork is correct, get someone’s expert check on it if necessary. Once everything is signed and sealed, you are ready to occupy flats in Cochin and can finally celebrate your dream home. It’s always good to do a thorough check of leakages, security, greenery, and surroundings, before making the final decision, as buying a house is a crucial, once if a lifetime decision, make it worthwhile.