Goa’s rapidly growing demand for real estate in the economy keeps on rising every year and everybody wants a piece of it. Part of it is because Goa is a hotspot for tourism and a retirement hub. North Goa where the capital city of Goa lies, Panjim, has seen tremendous growth in the last decade. The ROI is very high due to the above factors involved so buying 3 BHK apartments in North Goa would definitely be a worthwhile investment. There are very few reputed builders in Goa that you could look up into. Always remember that a builders’ success depends not on what he builds, but how it looks after 10 years. 

Buying property demands a lot of effort and time. However, following this step-by-step guide can make this process smoother for you. This guide could be your checklist during the process, making you confident about your decision.

Begin to identify properties

Begin to find the potential property options in the localities of your choice. Make sure the properties you choose fits the list of your key parameters of home buying. Figure out your expectations from your homes such as amenities, features and specifications. 

Start touring these properties and strike out the ones that are not fulfilling all the key parameters you want in your home. Make a list of all the things you saw in each property, take pictures and make videos. Sit down and put all of these together to shortlist.

Know how much can you afford

The price of the property is a crucial parameter. Know that apart from the cost of the property, there are other overhead charges, too. This includes stamp duty, legal fees, brokerage fees, property tax, etc. 

Define how you plan to invest in a property. Now, pick the shortlisted properties and begin to evaluate their worth in the context of the selling price of these properties. Once you find a property that fits your budget, begin to look for a bank that offers an attractive rate of interest on the home loan.

 Perform legal diligence

Whether you are buying a primary or secondary property, make sure that the developer or the seller has the title of the property (the right to sell). In case the property is in a housing society, know all about their occupancy certificate and safety certificates. The home-buying process would also require a legal expert to read into the agreement and also, handle other legal formalities.

Consider these before you close the deal: 

•  Check the sanction plan of the project and confirm that the development is approved and entirely legal. 

•  Make sure the building bye-laws are applicable in the specific area and there are no violations on the part of the seller.

•  Don’t forget to take no-objection certificates (NOCs) from the water, electricity and land ceiling authorities.

•  Make sure there are no unwanted encumbrances in the property.

•  Know about the payment procedure. Payment patterns vary from developer to developer and in case of a resale property, the homebuyer has to pay a certain percentage of the property as a down payment. On the other hand, for an under-construction property, there are three types of payment plans you could pick from – time-linked where a buyer has to pay at certain intervals irrespective of the progress of construction; in downpayment, the homebuyer needs to pay a certain percentage up front and the remaining through instalments, and Flexi plan which is a mix of both construction-linked plan and down payment plan where the buyer pays 10 per cent at the time of booking and the remaining in a fixed time span.

• After you pick your payment plan, fix your home loan. Get all the property, income and tax-related documents at a place and apply for the home loan as early as you can.

• Once the booking amount is paid, make sure you receive an allotment letter which has all the relevant details such as flat number, size, floor and other extra charges.

• A sale agreement must be signed between the developer/seller and buyer. It is proof that makes the buyer the legal owner of the property. Recheck the deed so as to be sure about all the specifications of your home.

• The last and the final step after all the relevant formalities you attain the possession of your home. Now it’s your responsibility to register the sale deed in the local municipality and get the property registered in your name.

Moving or relocating is exciting. However, there are many things, which you have to keep in mind. From finding a house at a good location, equipped with all amenities, has the right valuation and what not! To search for your dream apartment in Goa is something that you should do with the utmost care. Is the flat in a good location? Does it have all the required amenities? Is it closer to schools and hospitals? How much time does it take to reach the locality? Before you sign the dotted line, these are some crucial questions for which you should have an answer.

You may lose track of things to keep in mind. This guide will help you find the house of your dreams. The following are the steps that you need to follow in search of your home.

1. Make Location Your Prime Focus

The location of your apartment is one of the most important things to consider. The locality needs to be one, which is closer to schools, hospitals, shopping malls, etc. The neighbourhood also needs to be safe.

2. Select A Layout Of Your Choice

Layouts can be starkly different from what you might expect. In one property itself, there can be multiple options. It would help if you choose what suits you and your family. If you have kids, then you might need a house which has a reading nook, play area for children, etc. If you have a large family then you might need a house with larger dining rooms and bedrooms.

3. Evaluate the Space

You need to know the property details in terms of its space. You should check whether it has the number of rooms you need along with proper space for each of the rooms, how big is the kitchen and how safe and spacious are the balconies. These are some things which you should look for.

4. Consider the Number of Amenities Provided

You should know what amenities are essential for you and if the property offers similar amenities at the same or additional cost it. A gym, spa, clubhouse, proper parking space, are some amenities that you can find in Luxury flats in Goa. 

5. Consider the Commute

Your house needs to be connected to access points in the city. You need to see how far your home is from points such as bus stops, your office etc. You also need to take into account the potential traffic woes in the area. Maybe you can drive to the site in peak hour and check how much time it takes from point A to point B. 

6. Read the Documentation Carefully

Once you feel that you have found the right property, you need to read all the documentation carefully. Check for everything from price to amenities mentioned, to the maintenance charges. You need to understand the contract and only then sign the dotted line.

Finding a dream house can become an easy task if you keep the above points in mind. Realize that most houses aren’t perfect, to begin with. Even if you are building your dream home, there are always things that could have been different. Be flexible. Once you move in and add your own style it will soon become your dream home.

Also Read: Why Zion Square is the Hottest Property Right Now in North Goa