Buying your first home is more than a big decision—it is a life-changing moment for you and your family. Those four walls will be filled with memories, dreams, and countless stories waiting to unfold. However, in a market like Goa, with a diverse range of properties, it is natural to feel like you are spinning in circles. Doubts often creep in, especially when the stakes are high, and the investment is significant. After all, the efforts that go into transforming a house into your home are priceless. As a first-time property buyer in Goa, you want to tread carefully.
But how do you make sure every step you take is the right one? Goa offers something for everyone—whether it is the peaceful lifestyle with coastal charm or the growing real estate market that is flourishing with opportunities.
Let us clear the confusion and help you navigate this emotional journey with confidence.
In this blog post, we have compiled a list of 10 questions that first-time property buyers in Goa will thank us for answering!
1) Am I Ready to Own a Home?
Before jumping into homeownership in Goa, it is crucial to consider whether you are truly ready. Owning a home comes with significant responsibilities. First, ensure you are financially stable enough to handle a mortgage. Check if you qualify for a home loan and determine which type of loan is the best fit for your needs.
Also, look at your credit rating, as this will play a key role in securing a loan. Online calculators can help you assess your options.
2) What Kind of Home Do I Want?
Think about what you want in a home. Is it the size, location, or just a solid investment? Do you need a cosy 1 BHK for yourself, a spacious 2 BHK for your family, or maybe a 3 BHK close to work?
Make a list of your priorities as a property buyer in Goa. Knowing what is important to you—like being near the beach or in a quiet neighbourhood—will enable you find the perfect place here.
3) Will Hiring a Real Estate Agent Help Me?
Hiring a real estate agent can be incredibly beneficial, especially for first-time buyers. If you feel unsure about negotiating or simply don’t have the time for paperwork and house hunting, an experienced agent can take care of it all for you. They make the process smoother and less stressful.
4) What Documents Do I Need?
Having the right documents is like wearing a seatbelt—it keeps you safe from legal bumps! Here’s a quick list of a few key ones that you need:
- Sale Deed or Title Deed
- NOC from bank/builder
- Seller’s tax receipts
- Power of Attorney
- Loan documents
- All payment receipts
- Khata Certificate (property entry in local records)
- Encumbrance Certificate · Sanctioned Building Plan as per RERA Goa
- The contract between you and the seller
5) Should I Buy an Under-Construction or Ready-to-Move-In Property?
When deciding between an under-construction or ready-to-move-in property, property buyers in Goa need to consider their needs and budget. Upcoming properties of reputed Goan builders such as Satt Adhar often yield higher returns over time in a thriving city like Panjim, where the potential for appreciation is strong.
On the other hand, ready-to-move-in properties provide the convenience of immediate occupancy, perfect for those who want to settle in without the wait. Ultimately, your choice should reflect your priorities and plans for the future.
6) What Amenities Should I Look For?
Amenities can make your lifestyle more enjoyable by providing both convenience and recreational possibilities. Look for community features like a clubhouse, swimming pool, gym, garden, etc to enrich your daily routine.
Check the security options available. Modern CCTV and fire safety systems are necessary for peace of mind. If the society offers reliable intercom facilities for managing security, that is definitely a plus!
7) Does location matter while buying a home?
Absolutely, location is vital for first-time property buyers in Goa! It impacts your daily commute, access to amenities, and the overall vibe of the vicinity. When it comes to Panjim, you’re in for a treat! Think about how close you can be to beautiful beaches, local markets, and your favourite eateries.
Consider nearby schools, healthcare facilities, and transportation options—they can make life much easier. Moreover, keep an eye on future development plans to gauge potential property value appreciation. Take the time to explore and find a spot that feels just right for you!
8) What is the difference between a carpet area and a built-up area?
The carpet area refers to the net usable space inside your apartment, measured from the inner walls. It includes rooms like bedrooms, living areas, kitchens, bathrooms, and balconies.
On the other hand, the built-up area includes the carpet area along with the thickness of the walls, balconies, and any additional spaces like external staircases or exclusive terraces. In short, the built-up area gives you a fuller picture of your property’s total size.
9) What taxes and fees should a property buyer in Goa be aware of?
Purchasing property in Goa involves several taxes and fees. These include stamp duty, registration charges, and Goods and Services Tax (GST) on under-construction properties.
In Goa, stamp duty is generally 3% of the property value, while registration charges are about 1% of the property value. You can easily check the charges online based on your property value to stay informed and prepared!
10) How long does the home-buying process usually take?
The home-buying timeline can take anywhere from two to three months, but it depends on a few things. From the moment you start your search to when you finally close the deal, various factors come into play—like how quickly you find the right property, secure financing, negotiate the price, and complete legal checks. Just keep in mind that every experience is unique, and patience can pay off in the end.
We hope this guide has shed some light on the common questions that every first-time property buyer in Goa faces. Having the right insights can make a big difference in your decision-making process and help you find a property that truly feels like home. It is an exciting adventure ahead, and we are here to guide you every step of the way.
Happy house hunting!
Satt Adhar Builder’s upcoming project, Skyline Harmony in Panjim, has everything you need to check all the boxes of your dream home. For enquiries, please fill out our contact form, and let us get you one step closer to your first property in Goa!
