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Your guide to everything you should know when buying a property in Chennai, whether you are a first time buyer or investor.
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Setting a budget is critical when you are a first-time renter or looking to swap apartment living for a villa lifestyle. Your monthly rent payments need to be affordable. Make sure to factor in monthly running costs such as water, electricity, internet and service charges. You should also set aside funds to cover your moving costs, including a deposit, upfront rent payment, utility connection costs, removals services and agent commission.
Do your market research, talk to friends, check online reviews and ‘interview’ different brokers to find the one that’s right for you. You want a brokerage with a strong local presence and wider market appeal, which will ensure your property is marketed to a broad base of potential buyers.
Finding a reputable real estate broker takes a whole load of stress off your shoulders, especially in a competitive rental market. A great broker will keep you updated on new and upcoming listings that meet your criteria and is your intermediary regarding lease negotiations. Ensure they are fully RERA qualified and have in-depth knowledge of the areas you are looking at. Your broker should also be there for every viewing and follow up on any maintenance issues you may have spotted, which need to be sorted out before you move in.
You've found the perfect property and have made an offer. The next step is to provide scans of your Emirates ID and residency visa, along with three cheques: one for the deposit, one for the first rental payment, and one for the broker's commission. The first two cheques should be in the name of the landlord and the third in the name of your broker's company.
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