Buying a home in Goa is an excellent investment, as the real estate market is booming due to the state’s increasing popularity. With a diverse range of properties, from luxury villas to affordable apartments, finding the perfect place to call home can be a bit of a search that ends in success and satisfaction once you finally decide on the living space of your dreams. Building a home in Goa can be a great way to start a new life, and become part of Goa’s vibrant community. With its breathtaking natural beauty, unique local culture, and welcoming people, it’s no wonder why so many people are drawn to this coastal paradise.
Here are a few important points to remember when you consider buying a property in Goa:
1. Location- Location is an essential factor to consider. Goa is divided into two distinct districts, North Goa and South Goa, each offering a different atmosphere and style of living. North Goa is renowned for its sun-kissed, beaches thronging with tourists and locals, bustling bazaars, and lively nightlife, while South Goa is known for its more tranquil ambience and breathtaking vistas of nature. Depending on what you are looking for, you can pick the region that best fits your requirements and lifestyle.
2. Types of Property- Goa offers a wide range of properties to suit all budgets. From luxury villas and apartments to budget-friendly options, there is something to suit everyone. You can also choose from beachfront properties, such as holiday homes, or inland properties, such as villas and apartments. If you are looking for a home away from the noise of the city, you can choose from the properties in Goan villages that are easily accessible and equally rewarding. The rare amalgamation of a slow and loud life in Goa makes it an ideal choice for living without having to compromise on anything.
3. Banking and Financing: Banking and financing are essential components to consider when purchasing a property in Goa. With various banks available in the state, it is necessary to familiarise yourself with the different property purchase options available and compare their interest rates, repayment terms, and other features to decide which one would be the most suitable for your needs. Additionally, home loan options under the Government of Goa can be especially beneficial to first-time buyers, offering competitive interest rates to make the purchase more affordable.
4. Taxes and Fees: When buying property in Goa, you must be aware of the various applicable taxes and fees. These include registration fees, stamp duty, and property taxes. It’s also important to be mindful of the Goods and Services Tax (GST), which applies to all purchases of properties in the state. It is essential to factor in all of these costs when calculating your budget.
5. Legal Documentation: Once you have identified the ideal property, you must ensure all the necessary legal documentation is in place before finalising the purchase. This includes obtaining a sale deed, which is a legal document that certifies and confirms your ownership of the property. Additionally, you may need to obtain a permit from the local authorities to use the property for specific purposes, such as commercial or residential use. You should also ensure that the property is free from any liens that could affect your legal ownership of the property.
6. Maintenance: Owning a property in Goa comes with the responsibility of regular maintenance. This includes regular cleaning, painting, and repairs, as well as researching and applying for any applicable insurance policies that may be required to protect the property, considering the climate and location.
Discover your dream home in Goa with Escala Realty ! We understand how difficult it can be to find the perfect property, so let us help you simplify your search. With our expertise in project sales, realty consultancy, project consultancy, promotion and development, you can rest assured that you’ll find the ideal home that meets your needs and desires. Get in touch with us today to get started!