15th Feb 2011 – Asian Voice
Buying a property is easier than taking care of all the details that come after
When you decide to buy a house, there are several decisions to make – where to buy, what your budget is, who to buy from among others. Once you sign on the dotted line and write all your cheques, you think the work is done. But completing the paperwork is not the end of the story, it is
the beginning. Have you considered the following?
- Utilities: Electricity, water and gas bills have to be registered in your name and must be paid. Keep all records and let the utility companies know if your property is vacant.
- Property taxes: Check the local taxes and ensure that arrangements are made to be paid on time. Remember the Government can go back several years to check compliance.
- Identification: When you buy a flat always ensure that the society correctly identifies youas the owner of the property. If you have an allotted parking space make sure that this is properly identified both in the records as well as on the spot.
- Fittings: If you are buying from a builder, ask for a checklist of items included. Once the property has been handed over, check that these are present and properly installed. You will also have to buy and install things like fans, light fittings, air conditioners, etc.
- To let or not to let: Leaving your property vacant can lead to deterioration in the property over a period of time. It is always better to let your property out to a reliable tenant so that it is well looked after and you earn additional returns on your investment.
- Furnishings: Whether you are letting your property or using it as a holiday home, you need furnishing. Choose the fittings carefully depending on the purpose of your property.
- Neighbours: Introduce yourself to your neighbours. Even if you don’t plan to live there, your neighbours can be very helpful in keeping an eye on your property.
Follow these useful tips or you can let Unesta do the needful. Ms. Deepa Aptekar came to Unesta with her situation. “I am going to India to take possession of my new flat but I don’t know anyone there who can help me with the fittings, furnishings and other details. Can you help me?”
Unesta’s full management service can assist you with taking care of all these details and letting the property once they are complete. Our team in Mumbai can take all the stress out of your property ownership. If you have any questions about our services, would like to register your property or receive a free no obligation valuation for your property in Mumbai please feel free to call us.