Owning an apartment in Goa is great for someone looking at it as a place of residence or even as a rental business. Today 2BHK apartments in North Goa are in great demand. Mapusa, in particular, has seen a rise not just in 2BHK apartments but also 3 BHK apartments in and around the city. The idea of a one-time investment in a bigger apartment has led to the rise in demand for 2 and 3 BHK apartments over a 1 BHK. One needs to be careful to avoid making mistakes during the process of purchase and needs to watch out for the following common mistakes while buying apartments.

1. Failing to do your own research and planning

One tends to get excited with the thought of buying their own home and often miss out on identifying the important details that are needed for a home. One needs to check the property value of the market, the surrounding in which he wants to buy an apartment, distance from educational institutes, market places, places of worship and so on. Do not forget to make a list of all your needs so that you do not regret your purchase later by relying entirely on a broker or advertising. 

2. Not Setting a budget

Your investments directly help maintain your financial stability. One needs to set a budget for buying the apartment so you can stick to it and choose your home wisely. No one wants their home to be a wasteful expense for no reason. Registration charges, brokerage fees, maintenance charges, and GST are some of your costs that will come along the way.

3. Not checking the background of the construction companies

Always remember to do a background check on the developer or construction company from whom you are looking to make the purchase of a property. Inquire and visit their past completed projects and meet the owners of properties bought from the builder. One could also visit websites of builders and get familiarised with what they have on offer.

4. Hasty finance deals

 If you are seeking financial assistance from a bank you will need to have all your documents in places such as tax returns, payslips, or employment certificates. Also, it is advisable to go to compare loans from various banks or financial institutions so that you are not inconvenienced at a later stage.

 5. Maintenance cost

 It is not enough just to have enough money to purchase an apartment or pay-off your loans. Always make sure to consider the maintenance costs that will be your recurring expense as long as you own the place.  

Also Read: 5 Reasons That Will Make You Want To Buy Apartments in  Porvorim-Goa