First thing is the budget you should know before searching any house for sale in Mumbai because there are many fees in real estate sector.
So here in this article I have explain
the all type of the extra fees required while buying a house, flat or plot. What amount and type
of fee, which place required which type of fees I has explained each and every
fee.
What is the purchasing Cost for getting a House for Sale?
Down payment
If you are going to buy a house in Mumbai and if
you are lending money from bank then you have to give some percentage of the
total cost of the property which will be consider as a down payment.
There are different types of loan
available in bank but you should choose the appropriate loan like housing loan,
plot & house combo loan, this are the loan where you can get less interest.
Home Inspection
As you are buying a house for first time and you don’t have the
knowledge on real estate sector you have to make a house inspection through
your legal advisor or your local agent.
Particularly those who going to buy a house and which are under construction then
it more recommend to do proper inspection.
Moving Expenses
In this case you are willing to get a house for sale which far away from your locality
then here the costing will be higher as compare to the nearest house.
Because you have to move your entire
essential thing to the new home where the travelling cost will be higher which
depend upon your situation.
Types of Mortgage cost
Application Fees
When you are finalized to buy a house then you have and you are taking loan from the bank then
you have to give some amount regarding you loan process which will consider as an
application fees.
Here you can also give these fees
directly to the bank person otherwise they can also deduct the money from the
loan amount.
Property Survey
Here as you are taking loan from the
bank for the house you are going to buy, then before the bank will give the
loan their survey team will first survey the house, flat or plot by visiting
the property.
Here if you getting a house, plot or flat for sale then according to that there is also
some fees which will deduct from the bank from the loan amount.
Cost for changing Home Ownership
House Ownership Insurance
This insurance will be much helpful
for the owner who is interested for buying
a house because this
insurance will cover the damage of the house and the liability or if there is
some injured due to the property then
the insurance also get cover on this.
Flood Insurance
If you are searching house
for sale near coastal
area or any water area then there may be a chance of occurring flood. So for
these you have make a flood insurance which will cover the entire damage occur
due to flood.
As all these expense are hidden by the
property developer which affect the buyer but there is medium where every types
of the money explained while buying a house, it named as Cifiyah which is a classified site where you
can get many type of property.
