8 Critical Things To Check On When Buying 2 BHK Flats In Thane

8 Critical Things To Check On When Buying 2 BHK Flats In Thane

It looks like you’re ready to purchase a 2 BHK Flat in Thane; you have a budget defined, the location outlined and some projects listed. What now? Home buying is a big decision for life

At times, it might be stressful to look for a home buying checklist on the internet because so many of those sites aren`t published by competent real estate agents with decades of expertise. Often, they are simply a collection of thoughts compiled by a writer or journalist and it`s not always practical. A property buying checklist designed by a full-time real estate specialist is listed below:

Home-Buying Checklist before Buying 2 BHK Flats in Thane

1. Apartments vs Independent Homes

So, whether you choose to invest in 2 BHK Flats in Thane or an independent home is entirely up to you. Apartments are preferable if you want all modern amenities such as a gym, swimming pool, play area, or joggers park all under one roof.

Apartments in residential complexes now include all of the amenities in one location. As a result, investing in flats rather than single-family homes is always a wise investment.

2. Study the Developer`s Track Record & Previous Projects

Evaluate the developer`s previous work on the project as well as other under construction projects In Thane. Examine the project`s RERA details. Consult with a few brokers. However, do your own research because brokers may be motivated to market-specific projects and may try to direct you towards them.

If you`re buying under construction projects In Thane, check the buildings that have already been completed by the same builder to inspect the quality of his work, presuming that it`s the minimum he`ll deliver here. You can inquire of the previous building`s residents about whether the project was completed on time, or whether the developers handed the building over to the society in an affable manner.

3. Hire A Real Estate Agent

A good real estate agent can answer all of your questions and guide you in the proper course. Even if you aren`t ready to buy right now, the counsel of a real estate professional will be invaluable. You can`t start deciding a sales price until you`ve been prequalified, and you can`t look at houses until you`ve determined the house you can afford, both of which can be done with the help of an agent. Here are a few pointers to help you get started before investing in New Projects In Thane:

The majority of buyers work with the first agent they come across or a close relative. Through referrals, open houses, and other suggestions, you can locate an experienced specialist who will listen to you, handle business professionally, and is well-versed in the real estate market. To ensure that the entire process runs successfully, examine the regulations for working with a real estate agent.

4. Set Your Requirements Standard

Connectivity and Accessibility

Consider how you`ll get to and from work. Check the road connectivity if you`re travelling by car. Measure the time it takes to go from the project to your job during peak hours. If you`re travelling by rail, notice how long it takes to get to the station and whether transportation to and from the station is readily available. Check to see if any forthcoming infrastructure improvements may improve the project`s connectivity.

Social Infrastructure

Imagine you`re a resident of 2 BHK Flats in Thane. Consider where your children will go to school or play, where you will shop or watch movies, where you will buy groceries, and where the nearest hospitals and banks are located. If you`re unfamiliar with the location, talk to a few locals in the neighbourhood.

Possession Date of Your Property

Decide when you`d like to take possession of your residence. Under Construction Projects In Thane may be less expensive than ready-to-move-in property, and you`ll be able to pay only the pre-EMI instead of the full EMI while the project is being built. If you`re renting, think about whether you`ll be able to comfortably service your pre-EMI and rent while the home is being built.

5. Stamp Duty and Registration Fees

If you want to be the sole owner of 2 BHK flats in Thane, make sure to register them in your name. You will be required to pay a registration fee to the Maharashtra government in order to do so.

In Mumbai, stamp duty is 5% of the property`s total value. The registration fee, on the other hand, would be 1% of the stamp duty. As soon as you`ve paid the stamp duty and registration fee, get the property registered in your name.

6. GST (Goods and Services Tax)

The GST is levied by the state government. Homebuyers were previously required to pay VAT and Service Tax. Currently, GST incorporates both the VAT and the Service Tax. Keep in mind that the GST is only applied to properties that are still under construction.

So, if you`re investing in 2 BHK flats in Thane that are still under construction, you`ll have to pay the GST.

7. Parking Expenses and Maintenance

Parking lots or spaces are now included with most residential houses. It would be necessary to pay the parking fees in order to use that spot. Residential houses come with a society maintenance fee in addition to the parking space. It`s a good idea to look into the rates that certain residential buildings in Mumbai impose before moving in.

8. Additional Preferential Location Charges

Preferential Location Charge (PLC) is another thing to consider while looking for new projects In Thane. There`s no doubt that Mumbai is a lovely but congested city. If you want to live in an apartment with a view of the sea, you`ll have to be willing to pay a handsome amount. Similarly, the price of flats near the airport or other significant areas will fluctuate. When you`re looking to buy a home, keep these things in mind. It will make it simple for you to purchase your dream 2 BHK flats in Thane.

Conclusion: Final Thoughts!

To summarise, purchasing 2 BHK Flats in Thane is perhaps the most important decision you will make, second only to marriage and having a child. You have a responsibility to yourself and your family, and performing all of the above due diligence prior to purchasing your apartment will ensure that "what you expected is what you received”.