Get to know the various costs involved with buying an apartment
Real Estate

Get to know the various costs involved with buying an apartment

Apartments-in-Bangalore

Owning an apartment is something to be really proud of and with it comes a sense of freedom and security. Also, you will not have to waste a significant amount of money every month on rent. You will not even have to shift to a new apartment every time the rent increases. This can be a big relief for a lot of people. However, there are a lot of costs involved as well that you might not be aware of while buying your apartment. So, here we have come up with some of the costs that you might have to incur while buying an apartment for yourself. This will help you to keep yourself prepared financially. You will also have proper idea of what might be the actual price of Apartments in Bangalore Kanakapura Road at the end of the buying process:

Advance maintenance deposit:

While signing on the property documents, the builder may ask you to pay a maintenance deposit for a particular period of time in advance. This can be a year or two or sometimes even 10 years. Depending on the exact location of the property and the services that are being offered to you, the maintenance price may vary. For instance, the maintenance deposit in places like Kanakapura is around fifty thousand.

Most builders collect this amount during the building process itself. So, you have to be prepared for this as well. You can also buy your house from Provident so that you can get your apartment without any additional charge.

Cost of parking space:

With every passing day, our country is facing a severe shortage of space especially in developed spaces like Kanakapura. Sadly enough, the parking space is not included when you buy an apartment for yourself. Depending on the size of available parking space and the location where you decide to get your apartment, this charge can be higher or lower. The price will have to be paid to the seller and it comes as a completely separate cost. So, if you are looking for Apartments in Bangalore Kanakapura Road, you will have to consider this package charge as well.

If you do not pay this charge, the seller may sell the parking space to another person in the society. Again, the parking space comes at a price that is decided by the location of the place. So, if you own a car, you must be prepared to pay for the parking space also. You can also get your apartment from Provident and get yourself an amazing parking space along with your property.

Cost of interiors:

This is one of the biggest and the most inevitable prices that you have to pay after you’ve got yourself an apartment. Without proper interiors, you will not be ready to move in. This includes plumbing, painting, getting yourself new furniture, electrical appliances, etc and the list goes on. This cost can go upto a few lakhs. You might save yourself some money by getting yourself second-hand furniture but still, this cost can be quite a lot. So, you must include your interior cost as well while you are doing your financial planning for buying an apartment. 

Registration fee:

Registration is basically the full and final legal agreement between the buyer and the seller indicating a complete change in the ownership of the property. The court is going to charge you a registration fee for it. It is generally one to two per cent of the total cost of the property. It may initially seem to be a very small amount to you but it can sum up to a lot of money. This is another cost that you are going to have to pay for if you decide to get the apartment to your name.

So, these are some of the costs that you might have to bear if you are buying an apartment from Kanakapura. You can also connect with the officials at Provident for further information on the buying process. 

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1 Comment

  • explainer mojo December 21, 2021

    Really Informative content with quality website

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