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Nothing comes for free? Some things DO!

  • Purple Realtors by
  • 10 February 2018
Nothing comes for free? Some things DO!

Pune

Did you know you could get a few things for free on purchasing your dream home? Here's how…

Buying a home is an expensive affair. You not only have to spend on the home, but also documentation, taxes, maintenance, parking, etc.

However, there are a few things that you may not have to pay for and a few financial decisions can ease the burden of owning a home.

Here are some perks offered by developers for home-buyers:

Actual discounts;

Home furnishings like air conditioning, wardrobes, toilet vanities, LED downlights, home automation or modular kitchen;

Waiver on stamp duty and registration;

Maintenance-free periods.

Negotiating is crucial:

"Freebies offered upfront by builders are usually already accounted for in the rates. Rather than focusing on only free white goods, a different approach based on an individual's practical needs might help get the best deal. For example, try to negotiate for extra parking space if you have more cars. Focus on the right property and then let these offers be add-ons."

"Don't give in to impulse. Remember one things, this is a buyer's market and you are in the driver's seat. Study as many projects as you need before making a decision,"

Upgrade if possible:

Real estate is a dynamic sector. Thus, being ambitious and investing in a property in the heart of the city or with new-age amenities is a wise decision. "Don't be overtly focused on the cost of the property. If you have the base budget in place and are firm on buying a home, you can leverage it via a home loan and buy in a better location, or perhaps, in a project with better amenities."

If you are financially stable and are looking to buy a property, then the ideal time would be around the end of the fiscal year, as this is when builders would want to maximise sales to ensure their books look better to investors.

Exercise caution:

However, don't get lured by attractive deals alone. Projects usually have a tie-up with at least one bank to help fund customer's home loans. Builders will generally offer to help a customer with the loan and also offer to pay the interest on behalf of the customer during the construction period. However, the reality of the situation is that a builder has already apportioned the interest cost into the price of the property.

Prior to making a down-payment, your developer may offer you a cashback scheme wherein you can take your money back whenever you wish.

"There are a few commonly used tactics that builders generally use while trying to lure customers. Most sales representatives often make the project seem more attractive by highlighting a low initial down-payment to excite a potential customer. Customers need to be wary of such techniques as the bulk of balance payments will be expected a lot sooner,"