6 Tips to save money while buying a flat

Posted by vivek choudhary on October 30th, 2019

Not having the required funds to buy your dream house is not an issue anymore as the only thing you need to do is look for opportunities to save a modest amount of money without having to let go of anything. Several tips will facilitate you save enough money to buy flats in Noida Extension at budget prices. Follow the following top 6 tips and save yourself a lot of money while buying a flat.

1. Register the property in your wife’s name

It is not true for all states in India but some states, including the national capital, Uttar Pradesh, Haryana and Punjab, provide a 2 percent relaxation to females. Therefore, if the property is registered under a female’s name, you save 2 percent on the deal amount.

2. Choose your haven close to your work location

If you consider buying a property permanently, look for something close to your workplace. This will not only save travel expenses but will also lead to the restoration of energy, motivating you to work more and concentrate on paying off home loan debts.

3. Negotiate

This tactic works everywhere in the real estate business. If you are buying a property in a multi-storey project, chances are that you can negotiate a fortune while brokering the deal. In addition to saving on the house price, consider re-evaluating the broker’s commission or cut the expenses entirely by looking for properties in your preferred location through direct contact with owners or developers.

4. Choose subvention schemes

Although subvention schemes do not cut back on the costs, they do share the burden. You can opt for flexible payment options which enable you to manage your finances accordingly. Such schemes will relieve you from the burden of paying the lump sum amount and by choosing the construction linked plan, you will be able to track progress and ensure the security of your money invested.

5. Research for the best interest rate and processing fee

85 percent of the people in India opt for a home loan while buying a property and if chances are that you stand among that 85%, research rigorously for the best interest rate, processing fee, and other taxes. Cutting back on such fees will benefit you immensely in the long run.

6. Do not sell old furniture

It is not necessary to completely re-design the interior as soon as you buy apartment in Noida. Do not sell the clutter and take what is necessary in the new place. Once you have settled your finances, you can start focusing on replacing the furniture and giving the place a refreshed look.

It is not difficult to hold yourself back in the short run to reap benefits in the long term. Handling finances and designing a budget are as important as buying a home and therefore, must be pondered upon with utmost consideration. Flats in Noida are available at budget prices and all you need to do is look in more closely to find your perfect house!