buy flats kolkata

There is no denying the fact that buying a flat is one of the biggest financial steps to take in life. Residential real estate property prices have gone up over the years. However, that does not mean that you have to use all of your savings or spend a lot on buying your dream flat, even if it means choosing a property from a leading real estate company in Kolkata.

There are several ways how you can save money on your journey to buying a flat in Kolkata. Here, we have highlighted some of the most important ones. 

Prioritize suburbs

When exploring residential properties to choose the right flat, many of the most look for flats in prime locations. Although there are tons of benefits of living in a prime location, the one big downside is higher property prices. 

As it is with other city’s in India, this is true with Kolkata. Prime locations of Kolkata, including the Salt Lake area, Dum Dum, Rajarhat, Lake Town, and South Kolkata have higher real estate property rates.

If you want to go for lower property rates, it’s best to explore your options in the suburbs of the city. Some of the suburbs of Kolkata that are home to several top-notch relisted residential properties include, Barasat, Topsia, Midnapore, Basirhat, Barrackpore, Berhampore, Alipore, Bardhaman. 

What’s most interesting to know is that the suburbs are consistently growing. Buying a flat in any one of the suburbs now can you get you higher appreciation rates if you plan to sell your property in the future. 

Explore upcoming properties

One of the best ways to lower your expenses on your journey to buying your dream flat is to explore upcoming properties that are currently under construction. It’s best to be early when the booking starts in order to get your hands on the lowest quotes possible.

As one of the customer-focused real estate companies in Kolkata, we at Vinayak Properties, focus on offering the most competitive quotes for all our real estate properties across the entire Kolkata. Explore our current and upcoming real estate properties here.

Choose a bank with the lowest interest rate

If you want to buy your dream flat with the help of a home loan, it can be an expensive affair for you if you do not choose the right bank and the right home loan policy. Interest rates for home loans differ from one bank to another. Therefore, it’s best to compare as many home loans as you can and analyze their interest rates as per the tenure you prefer.

Go for the bank that offers the lowest interest rate in its home loan program. Another additional step you can take to increase the odds of getting lower interest rates is to maintain a great credit score. It’s best to not have any outstanding loans, such as personal loans, automobile loans, etc when applying for a home loan in order to be eligible for lower interest rates.

Take into consideration home loan insurance

In many cases, several banks that offer home loans sneak in home loan insurance in the loan package. The inclusion of the home loan insurance, in turn, increases the overall home loan price. When opting for a home loan, it’s crucial to ask the loan provider as to whether or not they have included home loan insurance.

In most cases, home loan insurance is not needed. This is especially true if you plan to select a very short tenure for paying the premiums of the home loan. Or even if you do plan to get coverage for your home loan, it’s best to first explore options and then choose the home loan insurance provider that asked for lower premium rates.