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2023-06-22
Home Buying Guide

Important Factors While Buying Your First House in Dahisar

Are you ready to buy your first home? Finally, moving out of the maze of renting home after home, year after year? Its a wonderful feeling to own your first house. An exciting step in your life. Especially if you have chosen an upcoming location like Dahisar. But have you done your homework before you plunge into the process?

Here are some pointers for you before you start short-listing your potential first house.

Budget Planning

Dahisar real estate offers a wide range of properties covering luxury apartments to budget homes. Before starting the property search, you must know your budget and the amenities you desire. It would then be easier to short-list the projects that offer homes that are the right fit. Visiting properties ad-hoc is not only a waste of time but also risky as you may choose a property that doesnt fit your budget.

Location

The convenience of a location decides the quality of life of the residents. Factors like the distance of the residence from the work location, its connectivity and accessibility, and other necessary facilities like schools, colleges, and hospitals are some considerations that will determine the daily experience of living in the new residence. By considering these factors you are being proactive about day-to-day life in the future.

Reputation of the Developer

In todays day and age, every developer and builder promises the best residences and amenities in their upcoming projects. It is not prudent to blindly believe the brochures and catalogues as these are designed to impress potential buyers. By visiting the developers previous projects and discussing the experiences of its residents, one can get a good idea if the developer lives up to their promises. You must vary of considering first-time developers unless you are sure of their reputation.

Home Inspection

A physical inspection of the property before making a downpayment is every buyers responsibility. The quality of the construction and interiors of the property should meet your expectations. There should be no flaws in the physical structures and interiors of the property. You dont need any major or minor repairs that will further add to the heavy investments that are being made. The buyer should also know the maintenance bills and taxes liable to avoid any surprises later.

Facilities and Amenities

Having inspected your future home, the next step would be to check the space and facilities in the projects in Dahisar. This includes the common areas, parking space, gardens, recreational areas, clubhouse, and other amenities if any.

The complete process of buying a home and moving in is a fine balancing act. It may not always be possible to get a home that perfectly fits your budget and aspirations. However, one must always try to find the best fit that ticks most of the boxes on your checklist.



Home Buying Guide

The Benefits of Homeownership: Financial and Emotional Rewards

Home is like an anchor in your life. it is a place where you belong where your family lives where you can feel yourself where you feel safe and at ease. Owning a home provides numerous benefits be it financial or non-financial. In a surging economy and thriving real estate industry, owning a home can be extremely beneficial. One can choose from options like luxury flats in Dahisar with world-class amenities. Although owning a home is not easy, the benefits it offers outweigh the challenges. Let us look at the financial and emotional rewards. Financial and emotional security Living in a rented home poses many risks financially as well as emotionally. Rising rentals and the risk of being asked to vacate at short notice can be stressful. By owning a home in new projects in Dahisar, one can rest assured that they and their family are firmly rooted and can live a stress-free life. The home can be your little world which you create and recreate as and when you wish. Investment and legacy building It is well known that real estate investment is one of the best means of multiplying wealth today. As one invests in a home the property appreciation promises to give high returns over time. Building a home also leaves a legacy behind for your loved ones serving as a means of pride and ownership. Flats in Dahisar East offer the ideal location and social infrastructure for generations to experience a comfortable lifestyle. Safety and security A home is where one feels safe and secure from the outside world. One thinks of their home as a place to recuperate and energize to face the world every day. It is also a safety net for your hard-earned wealth that cannot be lost. Since buying and selling property is a long process one cannot liquidate their home easily and at short notice. Wealth invested in property is more secure than liquidity. It is easy to get a loan against property on the home that is owned. Property is most preferred by financial institutions as security against loans making the disbursal easier. Smart Investment Property is a tangible asset whose value appreciates over time acting as a hedge against inflation. It is an asset class for long-term investment and helps diversify your financial portfolio from stocks, bonds, and traditional investments like fixed deposits. The importance of owning a home has become more significant after the pandemic as people realize the importance of having financial stability. Owning a property may have many financial benefits but the emotional benefits are greater. It is no surprise that owning a home is everybodys dream. ...
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Home Buying Guide

Mumbais Real Estate Regulatory Authority (RERA): A Guide for Buyers and Sellers

RERA or Real Estate Regulation and Development Act is a regulatory authority for the real estate industry. The laws in the act have laid down standard rules for the sale and purchase of properties which must be mandatorily followed by developers and builders in Mumbai. They act as a guide for property buyers to bring transparency to the property buying process. The act came into effect in May 2017 with guidelines designed to save homebuyers from fraudulent practices and boost investment in Mumbai real estate. RERA registration Under the RERA every builder and developer has to mandatorily register their residential or commercial properties if the total land area being developed is more than 500 square meters or the total number of units is greater than 8. The builder cannot market or sell his properties if it not registered with the RERA authorities. All the details of the project need to be disclosed in the public domain by uploading on the official RERA website. Calculation of Carpet Area The developer must follow the standard procedure to calculate the carpet area. The carpet area is defined as the net usable floor area of the apartment that does not include external walls, service shaft areas, balconies and verandas, and terrace areas. If the builder wants to make any changes in the initial approved plans it can be done only after acquiring the consent of two-thirds of the allottees in the project. Delivery and Updates RERA makes it compulsory for the builders to complete the construction of the projects in the stipulated time failing which they may have to refund the amount paid to the buyer or pay interest for every month till possession. The builder must provide quarterly updates about the status of the property in Dahisar East and details about the number of units sold. Standardised agreements As per RERA norms, every builder or reseller must follow a standard format for the sale agreements. Builders are allowed to alter the agreements as per the facts declared. This prevents homebuyers from getting duped by one-sided agreements benefitting the builder. Advance Payments Under RERA guidelines, the builder cannot demand more than 10% advance of the property value. The builder must enter into a written agreement with the buyer for additional payments for any property in Mumbai. Grievance Redressal If the homebuyer identifies any structural defect in the property within five years the builder must rectify them within 30 days or compensate the homebuyer accordingly. All complaints against the builder in Mumbai must be made in writing to the Mumbai RERA authorities. The RERA authority will have to resolve the grievance within 60 days. These are important RERA guidelines that every buyer and seller should know before buying a home. ...
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