Real estate is a more complicated business than it appears, especially when it comes to the costs associated with purchasing a home. The process begins with the basic expenses that ensure you obtain ownership of the new property after selling your old one, and is then followed by the additional expenses that must be spent to ensure you can begin your life in your new home.
These expenses must be added to the budget you’ve established based on the evaluation of your previous property.
Some of these costs are mentioned below:
Paying an agent/ broker:
In general, all home buyers look for an agent to assist them with the procedures of selling the property and finding other agents to assist them in finding a new home. You are bound to do the same, and by doing so, you may end up spending a significant amount of money on agent commissions.
The preferential unit charges:
One of the most important factors to consider when purchasing a home is the location of your “dream home.” It can range from being on a higher floor to having a better view of the balcony, and so on. When attempting to acquire an apartment in a prime location, the developer may require a preferential location charge to be paid. This is a variable cost that the developer can set based on the features of the apartment that you choose.
Stamp duty and other costs:
The stamp duty is the amount of money you must pay to the government in order to register the property in your name. This is one of the mandatory costs associated with the property purchase process.
However, of you are looking to sell your old home to but a new one then HomeXchange could be the savior of your time and money.
You get many benefits such as:
Quick: They give you an offer on your existing home within 5 days of inspection and can close the sale in as little as 30 days. This saves you time and effort when it comes to hosting property showings, finding a buyer, negotiating a price, and finally closing the deal, which can take anywhere from 6 to 12 months.
Cost Effective: HomeXchange streamlines the sale of your current home and the purchase of your new home while keeping the service fees completely transparent. The quick sale of your home can result in significant interest savings on your home loan once you pay it down. Because you can close the process quickly, you can take advantage of any special pricing, discounts, and other benefits available for your dream home with confidence.
Hassle-Free: With HomeXchange, you can skip multiple showings, the risk of buyers backing out, or loan approval delays. Sell instantly and buy faster from a modern real estate service provider compared to traditional methods.
Securing your dream home: With 100+ projects and developer tie-ups with some of the biggest names in Mumbai, Thane, and Bangalore, you can easily secure your dream home without having to visit and talk to different developers. A home expert from HomeXchange will assist you throughout the journey, and you could purchase your dream home in as little as 30 days.