Q:Hey, I plan to invest in the near future in Hyderabad. This would be first ever investment in a property. I have seen a couple of places and I’m trying to set a budget for my investment. Can someone please elaborate on the additional fees and charges I might incur when I buy a house. As far as I think I just know of the property’s cost itself and maybe corpus fund. I have no idea about what other costs goes into buying a property.
Latest Answer: To cite a few more costs in addition to what is already mentioned, you will have to pay maintenance charges in lump sum before you buy a property. These are mainly for the additional amenities like gym, pool, clubhouse etc. And let’s not forget the cost that come while availing the loan services for a property, on the top of my head I can think of a processing fee that is charged around 0.5% to 1%. These might vary, I’m not so sure about the percentage. I’m sure there are more charges involved. I just can’t think of any more right now. If anyone can think of more, feel free to add to this.
