Buying ready-to-move homes in Goa? Take note of theseby Shruti Sharma Content Curator
Buying a beach home or a property near the sea requires several things to be taken into account. You may want to live forever near the beach in a city like Goa or might want to use it as a vacation home. Whatever the reason for acquiring a property might be, it is important to be fully aware of the dos and don’ts.
Ready- to- move homes are a great way to save your money on loan EMIs and rent which you would have to pay for an under-construction flat. There are simple benefits that a ready-to-move in property provides like the option to shift immediately, paying for exactly what you see, no GST, instant gratification and rentals. These types of properties are favoured by people who want to obtain a good investment for their money or if they’re in need of a home immediately.
If you are thinking of buying a ready-to-move-in property in Goa near the beach then here are few things you need to keep in mind before finalizing your new home:-
You might have different visions and aims for wanting to purchase a seaside home, but whatever may the reason be, it is important to make sure that it is not too far away from work, market area, school, and other amenities. These are the basic facilities that should be present in your area. Consider all the advantages and disadvantages of buying a property close to the sea. For example, villas in Goa are high in maintenance. Therefore, make sure that it is something that you are willing to take care of.
Buying a place to call it your home is an important step in everybody’s life. It’s exciting yet nerve-wracking. It requires a lot of patience, time and money; therefore, it is important for you to be fully aware of what you’re paying for. Researching before you plan to buy any property is the first and the most essential step. The research should cover information about the builder, owner or the person concerned, legal formalities related to the property and possession details. You should be aware of the build quality, proper approvals, current conditions, environment and atmosphere of the area, etc.
Current property rates in the concerned area
Before finalizing the property or making any sort of payment, you should be aware of the prices predominating in the market for similar properties located in the area where you’re planning to buy the property. You’ll get an idea through several sources or mediums like a broker, internet websites, onsite research on your own.
It is a must to verify all the necessary documents while purchasing a ready-to-move property, here is a list of the important documents:-
- Sale deed
It is a legal registered document which acts as a proof of sale and transfer of the property. A sale deed is the most crucial document to take care of while verifying documents for your new home. It is essential to read the fine print and check all terms and conditions before signing the deed.
- Building plan
Also known as a site plan, this document includes a blueprint of the project, equipment layout and utilities. The building plan is another document that needs to be double-checked before finalizing a property purchase. Any unauthorized or additional construction runs the risk of being destroyed or denied occupancy later on.
- Mutation certificate
This document identifies the owner of the property in government records and establishes their tax liabilities.
- Encumbrance certificate
An encumbrance certificate presents evidence that your property has no monetary and legal liabilities.
- Completion/Occupancy Certificate
This certificate explains that the property has been built in accordance with the approved codes and other laws making it fitting for possession.
In order to safeguard the buyer, the government has formulated the Real Estate Regulation Act. As a buyer, you should be aware of the provisions under this act.
Created on Mar 12th 2020 01:08. Viewed 296 times.