Finally, the big day is here. You have identified your dream house and you are ready to move ahead with the purchase. Should you just splurge without a second thought or would you rather use your prudence to see how you can save money at every stage? A little bit of thought and application will help you save quite some money while you make this life-changing move. Let us look at a few quick tips on saving money while moving to your dream home.
Negotiate with the developer/broker for a good deal –
You can save money from the word “Go” if you negotiate with the developer or broker at the time of purchase. You can ask the developer to offer you a discount. Usually, developers have festive season offers or limited-time inaugural discounts. If you keep an eye out and book during one of these offers, you can save a decent sum of money. Similarly, the broker charges a commission as a percentage of the property value. You can ask him/her to offer you a discounted rate.
Check out the best loan offers –
Before buying a property, make sure you have a good credit score. This will help you negotiate better interest rates with your bank or NBFC. Have all your documents in place and check out all the offers available before you make an informed decision. You may end up saving a fair bit of money on processing charges. If you are lucky, you may even be able to avail of a lower interest rate.
Save on Stamp Duty by registering the property in your mother/spouse’s name
Did you know that several states like Bihar, Haryana, Maharashtra, Odisha, Punjab, Rajasthan, Uttar Pradesh, and Uttarakhand offer a lower stamp duty of up to 2 % lower if the property is registered in a woman’s name? Even the banks may offer better interest deals on loans if the property is owned/co-owned by a woman. This could result in smart savings that could run into a few thousand too. Well, a rupee saved is a rupee earned, isn’t it?
Shift smartly without burning a hole in your pocket –
Check out all the packers and movers available and choose the most reasonable one. There is no need to hand over your fragile items to them. You can transport them yourself in your vehicle instead of paying them extra charges and running the risk of breakage and damage.
Sell your old furniture in case you are not going to reuse it-
Before you look up the furniture brochures to do up your new home, take a long hard look at what you already have and whether some of them can be used longer. If they can be used, it makes sense to use them for a while and replace them later. If you have made up your mind to go for brand-new furniture, you can advertise your old furniture on a resale app and monetize whatever you can.
Don’t let the interior designer take you for a ride-
Interior designers will always suggest options that could cost you an arm and a leg. It is up to you to have a budget and stick to it. Go for what is necessary but don’t go over the top. Make sure you accompany them for the purchase of materials and bargain for better deals. Get quotes from a couple of interior designers before you narrow down on one. Remember, it is the crying baby who gets fed. So, try and drive a bargain at every stage and see your savings add up.
Wrap Up
Moving to a dream home is an aspiration of most Indians but while chasing your dream don’t throw caution and common sense to the winds. Always keep your eyes and ears open for offers and bargains. Buying a house is a big-ticket expense. You can use your prudence to do your homework using the digital tools available to drive the best deals at every stage. Make sure you keep the above checklist handy to make your home purchase a pleasurable experience.
If you wish to buy a property in Bengaluru, make sure you check out the dream projects offered by Valmark. Valmark offers you excellent housing options for which banks and NBFCs will be happy to finance you. Valmark Projects offer excellent value for money when it comes to well-connected luxury housing projects at picturesque locations with modern amenities. A home is a long-term asset. Make sure you check out all the options available before narrowing down on a property.
