By Runwal Group Posted Jun 13, 2018 In Property investment
Mumbai is one of the most coveted residential destinations in the world, and most certainly India’s star city. Whether it is because of the world-class infrastructural development or the extensive range of employment opportunities here, owning a home in this city is nearly on everyone’s wish list. However, with so many options in Mumbai, the home buying process can turn into a lengthy and confusing one.
If you are looking to buy a home in Mumbai, here’s an easy way to go about it.
1. A good location is all-important: Your home in Mumbai must always be well located. Whichever part of town you choose to live in, ensure that your home offers you quick and easy access to schools, hospitals, employment hubs, shopping malls, retail outlets, multiplexes, etc. Make sure that the roads are well-maintained, and that public transport is easily available.
2. Look out for a wide range of amenities: Go for a residential project that offers a wide range of fitness and recreational amenities for an enriched lifestyle. Commuting in Mumbai can be a hassle, so it is a good idea to have all these amenities at your doorstep. A swimming pool, gymnasium, sports facilities and clubhouse are some amenities to look out for.
3. The ROI and resale value must be assessed: Assessing the ROI of the home that you wish to buy is a crucial part of the process. The locality and neighbourhood, the quality of construction and the builder’s brand name are some factors that influence the resale value and ROI of the home.
4. Review your finances: At this stage, it is essential for you to review your finances. This includes arriving upon a budget, figuring out the methods of payment (down payment and EMIs) and reviewing the appropriate home loan options. Build up your credit score before applying for a home loan in order to expedite the approval process. Another important thing to remember when buying a home in Mumbai is to never get carried away and pick a moderately sized home that you can easily accommodate in your budget.
5. A reputed builder is a must: Mumbai is replete with real estate projects of all kinds. However, a wise home buying decision calls for investing with a reputed and trustworthy real estate developer. This ensures safety, transparency, quality construction and timely delivery.
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