5 additional costs you must consider before buying a home
Wednesday, 30 August 2017

If you wish to buy a home that goes easy on the pocket, be prepared to pay additional costs that you will be charged before and after owning a home. 

Mentioned below are the extra charges that you will have to pay after buying a home:

- Preferential Location Charges (PLC) :

Based on your preferred floor or direction like east-facing or corner flat, these charges are builder based. A lot of developers also charge more for units that are amenity-facing. 

- Maintenance Charges :

According to a new trend, developers now charge maintenance charges. These charges may range from a period of 2 years to 10 years and even for a lifetime in a few places. 

- Stamp duty, taxes & registration fees :

The registration fees and stamp duty varies from state to state. Under construction, properties charge for VAT and service tax.

- Brokerage :

Brokerage is the fee charged by the broker, the middleman between the buyer and the seller. On an average, a broker charges 1% to 2% of the property cost. 

- Cost of Interiors :

Often, after taking possession of the property, you may want to make a few changes to the interiors and end up spending quite a lot of money. The amount you spend on the interiors will depend on the type and nature of interior work.  On an average, approximately 2% of the cost of property, if not more, is spent on the interiors. 

When you are investing so much money in a home, you must make sure that you get a good quality home and there will be 100% transparency in the transactions. If you are looking for residences for sale in Waked, Pune, check out Western Avenue, 3 BHK flats apartments in Wakad, Pune.