Different type of Expenses while buying a house in Mumbai

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2. Different type of Expenses while buying a house in Mumbai First thing is the budget you should know before searching any house for sale in Mumbai because there are many fees in real estate sector. So here in this article I have explain the all type of the extra fees required while buying a house, flat or plot. What amount and type of fee, which place required which type of fees I has explained each and every fee. What is the purchasing Cost for getting a House for Sale? Down payment If you are going to buy a housein Mumbai and if you are lending money from bank then you have to give some percentage of the total cost of the property which will be consider as a down payment. There are different types of loan available in bank but you should choose the appropriate loan like housing loan, plot & house combo loan, this are the loan where you can get less interest.

3. Home Inspection As you are buying a housefor first time and you don’t have the knowledge on real estate sector you have to make a house inspection through your legal advisor or your local agent. Particularly those who going to buy a house and which are under construction then it more recommend to do proper inspection. Moving Expenses In this case you are willing to get a house for sale which far away from your locality then here the costing will be higher as compare to the nearest house. Because you have to move your entire essential thing to the new home where the travelling cost will be higher which depend upon your situation. Types of Mortgage cost Application Fees When you are finalized to buy a house then you have and you are taking loan from the bank then you have to give some amount regarding you loan process which will consider as an application fees. Here you can also give these fees directly to the bank person otherwise they can also deduct the money from the loan amount.

4. Property Survey Here as you are taking loan from the bank for the house you are going to buy, then before the bank will give the loan their survey team will first survey the house, flat or plot by visiting the property. Here if you getting a house, plot or flat for sale then according to that there is also some fees which will deduct from the bank from the loan amount. Cost for changing Home Ownership House Ownership Insurance This insurance will be much helpful for the owner who is interested for buying a house because this insurance will cover the damage of the house and the liability or if there is some injured due to the property then the insurance also get cover on this. Flood Insurance If you are searching house for sale near coastal area or any water area then there may be a chance of occurring flood. So for these you have make a flood insurance which will cover the entire damage occur due to flood. As all these expense are hidden by the property developer which affect the buyer but there is medium where every types of the money explained while buying a house, it named as Cifiyah which is a classified site where you can get many type of property.