Buying a new house or flat is one of life’s most exciting milestones. From searching for the perfect home to imagining your first day there, the journey feels special. But there’s one part that many buyers don’t think about until later that is the extra costs that come with buying a home.
You may calculate the down payment and loan EMIs, but have you considered the unforeseen costs associated with purchasing a flat from projects in Pune? These costs can appear out of nowhere when you think you are done spending.
This blog looks at the commonly missed costs of buying a house in Pune so you can plan better, avoid last-minute surprises and move into your new home with peace of mind.
Parking and Amenity Charges
The cost of parking, clubhouses, gyms, and rooftop gardens is usually not included in the initial house price. This happens despite the fact that many developers boast about their affordable home pricing. These charges can run into lakhs, depending on the project and location, and are often paid at the time of agreement or at the time of payment.
Loan-Related Charges and Pre-EMIs
When buying from builders in Pune, other home-buying expenses come with the mortgage loan. Processing fees, administrative expenses, legal fees, and technical inspection fees are all commonly charged by banks and financial institutions.
If you are taking out a home loan for a property that is still under construction, you may also be required to pay pre-EMIs. This involves paying interest on the loan amount even before you move into the house. It can affect your monthly budget after the purchase and is typically overlooked when discussing house purchases.
Society Maintenance and Deposits
At this point, an upfront maintenance deposit may be requested by the society or the builder of flats in Kharadi. Depending on society rules, this could be done one to three years in advance. Common area maintenance, security, cleaning, and energy bills are among the additional fees that start in the first month.
Legal and Broker Fees
You will probably have to pay the real estate broker or agent you have engaged from your own wallet. It is important to remember that there is a price associated with consulting a lawyer on matters of title, contract review, or opinion. This is one of those extra expenses that many people ignore when making plans to buy a home even if it is a smart practice.
Summary
Understanding the hidden costs involved in buying a flat in Hinjewadi or anywhere in Pune can help you plan better and avoid last minute surprises. Knowing these expenses in advance makes the home buying process smoother and less stressful.
If you are planning to buy a flat in Pune, choosing a reliable builder and visiting their projects can give you better clarity on pricing and charges. With over 50 years of experience, Gera Developments offers thoughtfully designed homes across prime locations in Pune. Get in touch today to meet your dream life expectations!
