People make the significant investment on their house by selecting right property that can give them comfort of life. It is not the only cost of buying a house, there are other costs related with buying your house. Working on hidden costs is not easy process as there are many complicated processes related with it. It is important to know about the hidden costs as your happiness can turn in disappointment when you are not ready for the big step. Your budget can increase 25%, that means if you are not aware of all the hidden costs, then you can really panic. Following are some common costs before signing the contractor buying the property. 


Different Types of Costs: 


Let’s have a look on the options for better understanding. In addition, the registration cost includes stamp duty that indicates the value of overall property that you are going to buy. The state government is responsible for taking this fee and giving you the ownership of the property. The stamp duty is the combining cost that comes along with the registration and it falls between 5-7% of the value of your property. You have to see whether there is any stamp duty on your property and then pay it immediately you talk to the owner of the property. Registration fee falls between 1-2% which is also not a huge amount and you can easily manage it. The cost you have to give to the government does not stop here as there are more charges associated with buying property. You have to pay sales tax if the property you have bought is under construction. This kind of tax is only applicable when you buy the property from a new buyer, and it falls between 1-5.5 % value of cost of your property. Service tax is also a charge that the government imposes on the buyer that includes maintenance of the property as it falls between 8-10% of overall cost value of property. Furthermore, the new societies mostly charge maintenance deposit of property in advance. Existing societies also charge this amount on the members of societies. The maintenance cost covers all kind of common amenities such as the facilities of the garden and your club house. It also includes the facilities as lightning and water. Moreover, When a person buys the house, he is not aware whether the parking space is included or not in the overall cost. There are total three different factors on which the cost of parking depends, so must take all the three costs in your account. The first factors is the area of parking that you will be purchasing in coming days and the second factor is it the idea whether the area is covered or it is opened. Last reason is the locality of the property where you will park the car. Lastly, if you have brought a property in a society then you must check the extra charges associated with living in the society. There can be special locations in the city that can charge extra for the place you have bought. Furthermore, such charges can vary from property to property so also have to make sure the current level of cost.