Mumbai isn’t called the city of dreams for no reason. It is home to the colourful world of bollywood, it is one of the only cities in India to be covered by water on three sides and the lifestyle the city offers can only be matched by a handful of cities in the world. Hence, it is no surprise that one would want to own an apartment in the economic capital of India.
If you are among those individuals who want to buy a property in Mumbai, without shelling out exorbitant amounts of money, simply follow these important steps.
Know What You Want
Finding the right apartment is a tough task. So, don’t add to the clutter by feigning uncertainty or confusion over the kind of apartment you are looking for. Mumbai offers a range of apartments: from affordable condos to ultra-luxury, swanky apartments. Make sure to figure out what you are looking for before actually beginning with the search. Do you want your own parking space? A gymnasium? A swimming pool and other amenities? Answer these simple, basic questions so as to determine what exactly you’re looking for.
Research Like You’ve Never Done Before
As mentioned earlier, you need to narrow your search down to the tiniest detail or else you’d end up searching forever on your quest to find the dream apartment. Hence, to find the perfect apartment, begin with an extensive research (we’re talking about your post-grad thesis level research). Find out all the areas that are feasible to you by keeping in mind your daily commute to your workplace, key amenities, proximity to the city centres and the likes.
Before you disappoint yourself by looking into some swanky apartment that is out of your range, figure out a budget. Analyse your financial situation. Do you have any loans to repay? How much of a new loan can you manage without compromising on your lifestyle? Answer these two basic questions and you’ll know the limits to your purse strings. Once this is done, your search will look a little more optimised, which means you can get down to the next steps.
Get Down To The Field
If you’re new to a city like Mumbai, there’s a lot of things you don’t know. So, find out how the city is for yourself. In the sense that, visit the areas you’re singled out and talk to the locals for they are your best source of information. Right from the prices to the number of to-let and new apartments in the locality, they’ll practically know everything. Also check the current status of Mumbai’s real estate market. Doing so can also help you figure out if a particular locality is what you’re looking for.
Once you’ve followed the steps mentioned above to a t, you’ll have a safety net you can follow, and a blueprint you can refer to. Next, go online with this information in mind. For instance, you can visit websites like commonfloor.com to find different variants of apartment spaces across varied price ranges in the many localities around Mumbai. Make a pick from the options available and you’ll be well on your way to a new haven
Investing in a home is a major decision and you need to be very mindful about the decisions you make. Follow these 5 basic, easy-to-follow steps and you’ll have your dream apartment figured out within little or no time.