Hidden Costs of Home Buying in India: What Every First-Time Buyer Should Know
In India, buying a home is a significant milestone, often regarded as a symbol of success, stability, and financial growth. For most first-time buyers, this is a long-cherished dream. However, many first-time buyers focus on the property’s purchase price without realizing that owning a home comes with various hidden costs. These expenses, if not anticipated, can strain your finances post-purchase. Whether you’re buying a flat in Guwahati or a house in a quiet town, understanding the full range of costs will help you plan better. Let’s walk through the various hidden costs of buying a home in India to ensure you’re fully prepared for this life-changing decision. 1. Stamp Duty and Registration Fees One of the biggest additional costs in buying property in India is stamp duty and registration fees. These are government levies paid at the time of property registration, and they can vary depending on the location and state regulations. What you need to know: Sta...