🏠 Home Buying Checklist: Essential Steps for a Safe Investment

Buying a home is one of the most significant financial decisions you'll make. To ensure a smooth and safe purchase, follow this essential checklist before finalizing your property deal.

🔹 1. Verify Property Ownership & Legal Documents

Ensure that the seller has a clear title to the property. Ask for:

• ✔️ Sale Deed – Proof of ownership
• ✔️ Encumbrance Certificate – Confirms no legal disputes
• ✔️ Property Tax Receipts – Ensure taxes are up to date

🔹 2. Check RERA Registration of the Builder

The Real Estate Regulatory Authority (RERA) registration ensures the project is legally approved. Visit MahaRERA to verify the builder’s details.

🔹 3. Calculate the Full Cost, Including Registration & Taxes

Apart from the base price, consider additional costs:

• ✔️ Stamp Duty (6%) – Mandatory government tax
• ✔️ Registration Fee (1%) – Paid during property registration
• ✔️ GST (5%) – If buying an under-construction flat
• ✔️ Parking & Maintenance Charges

🔹 4. Understand Maintenance Fees & Hidden Costs

Ensure clarity on society maintenance fees, amenities charges, and future costs before purchase.

🔹 5. Check Your Home Loan Eligibility

If you're taking a home loan, check:

• ✔️ Loan eligibility based on your income
• ✔️ Interest rates & EMI calculations
• ✔️ Processing fees & hidden bank charges

🔹 6. Visit the Site Multiple Times

Don't rely on brochures or digital images. Visit at different times of the day to check:

• ✔️ Sunlight & ventilation
• ✔️ Water supply & drainage system
• ✔️ Safety & security in the area

🔹 7. Ensure Good Connectivity & Nearby Facilities

Check the proximity of:

• ✔️ Hospitals & Clinics – Medical facilities nearby
• ✔️ Schools & Colleges – If you have children
• ✔️ Public Transport & Metro – Easy commuting
• ✔️ Grocery & Shopping Centers

🔹 8. Negotiate Smartly & Get Everything in Writing

Negotiation can save you lakhs! Ensure that all agreed terms (price, discounts, parking, etc.) are written in the sale agreement.

🔹 9. Read & Understand the Agreement Carefully

Before signing, check for hidden clauses related to possession delay, cancellation policies, and penalty charges.

💡 Want to estimate your home buying cost? Try our Flat Cost Calculator.