Tips to Buy a Premium Apartment in Kolkata before Your Wedding

Are you planning to tie the knot next year? Hope you have started all the arrangements and preparations. Besides this, are you thinking of buying a premium apartment in Kolkata?  If not, then work on it before your wedding day, or else there can be several problems, which would be difficult for you to handle. This reminds me of an instance involving my cousin and his fiancée.

They met each other at a friend’s wedding and from there everything started. They took some time to know each other and then their wedding was finalized. My cousin Akaash used to live in a 1 BHK flat in Kolkata, but of course, it would not have been enough for both of them to stay in that apartment. They got engrossed in planning for the wedding without thinking much about their accommodation and living. When finally it was time to decide on buying a premium apartment in Kolkata, Akaash and his fiancée Satakshi were in trouble. They didn’t know where to start from and where to draw a line. Certainly, they lacked proper knowledge and, thus, endless problems cropped up. So, if you feel, you are more-or-less sailing on the same boat, then it’s high time you start preparing a checklist before you walk out to buy a new home. Do not make your financial burden so heavy that owning a 2 BHK flat becomes your distant dream.

Here’s the checklist that couples must keep in mind before they decide to buy a residential property together.

Be Clear with your Opinions

Before you step out to begin anything new in your life, make sure you have a clear and open conversation with your better half. It is important to share each other’s ideas. Talk about the finances and then plan your budget accordingly based on your earnings. Look for proper financial loans from a trusted institution so that you can manage the savings.

Discuss the Ownership Options

Believe or not, but it is important to set all your ground rules clear before buying the property together. Instead of casually moving forward and paying for the flat against any of the individual names, you must sit down and then accordingly discuss the titles. Both of you must be careful about the tax problems and consequences you may face while transferring the deed title before signing the agreement.

Open a Joint Account

Set up a joint bank account, which you can make use to pay the property taxes, mortgage, maintenance and insurance. Each of you can set up an automatic monthly deposit into the joint account coming from the individual bank accounts. Further, to simplify the bill paying and work on budget tracking, you can even set an automatic deduction of home expenses from the joint account as well.

So, chalk out a detailed plan and then accordingly work together to buy your dream home.

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