Contrary to popular opinion, Mumbai has no shortage of housing. Most people looking for housing actually struggle with finding a property at a suitable location and one they don’t mind paying home loan interest rates for. Now, this may seem tricky at first, but you can find an apartment you like by doing a bit of legwork.

Looking for tips to make house-hunting in Mumbai easier for you? Here’s all the help you need to find a property of your choice in the city.

1. Decide a budget

If you’re getting into apartment hunting by searching ‘best flats in Mumbai’, expect your search results to be flooded with properties far out of your budget. So, decide on a budget and search for an apartment that matches it. Of course, this will save you time and effort, but it will also help you narrow down affordable places you can buy.

2. Do your research and select a locality

Apartment prices in Mumbai vary with the locality. For instance, the property prices in a posh locality like Bandra are much higher than a similar-sized flat in the suburbs. But the price is not the only reason to check locations before you select a property.

When you know property locations, you can check if the area has all the necessary amenities like hospitals, schools, transport, etc. This will help you narrow down your property choices too. It is also a good idea to check the average property prices for flats in your chosen locality at this stage to ensure you are getting a good offer.

Additional Read: Skyscrapers in Mumbai: The Changing Face of Luxury Housing

3. Find a broker

A broker can give you valuable insight into the apartment market in Mumbai and help you zone in on properties that match your requirements. So make sure you rope in a trustworthy broker early on during apartment-hunting.

If you find that a property you like exceeds your budget, get a home loan to cover the purchasing costs.

4. Look for builder credentials

After getting a broker, choose a property developed by a reputed builder. Doing this ensures the property you buy will be in good condition for your stay. A good way of checking a builder’s reputation is checking their track record of projects. So, look for reviews regarding infrastructure, check their legal standing, etc., before selecting a property.

Don’t give up on a property if it matches your dream house and is in a prime locality only because of its price tag. Get a home loan in Mumbai to cover the cost. These days most lenders offer housing loans at affordable interest rates to make loan repayments even easier.

5. Check for RERA certification

If the builder has a good track record, check if the property is RERA verified. Typically RERA attested properties provide transparency when it comes to property information, making the buying process a stress-free experience.

Additional Read: How to Check RERA Registered Projects in Mumbai

Get a loan to finance your dream house!

The next step is choosing your dream house. And if finances are the only thing stopping you, get a housing loan to help you out. At Tata Capital, we provide affordable housing loans and flexible repayment terms. Need help choosing the right repayment plan? Use our home loan EMI calculator.

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