Living in Mauritius, the pearl of the Indian Ocean is a dream come true. And why not? Life in Mauritius is much more than just enjoying the serene tropical island beaches and mountain ranges. The rising economic conditions, quality healthcare, and education system make it a great place to live.
The country also offers innumerable great opportunities to make long-term property investments, making it a lucrative option for people to own a home on the paradise island. However, buying a house can be a daunting task. From finding the right property to transferring the fee to the seller, there are a lot of struggles a buyer may have to encounter.
Thus, if someone is looking forward to owning a house on the Indian Ocean island of Mauritius, here are certain things they need to know and take care of.
Read on to learn more about them.
- Keep the search game strong.
One of the best things about the Mauritian real estate market is that there are tons of options. From gorgeous beach houses to villas, buyers can browse through various housing options to find the best fit for themselves.
Here are key things to look for in a house before sealing the deal.
- The location of the house: Before someone even sets out for house-hunting in Mauritius, they must be clear about the location. Do they want a home on a beach or hills? Do they want to live in a busy or remote neighborhood? Do they want a home in the suburbs of a city? Being clear about such things can help narrow down some options and streamline the house-hunting process.
- The site: Another major thing to look for while looking for a home is its build-up. Is it a hill-view home or a beach view? Is it a kind/pet-friendly home? Is it suitable for elderly family members? Does it have a driveway? Does it have an impressive curb appeal/ventilation/enough space? Considering such things can help in ensuring the accessibility of the house for a very long time.
It would be best to browse various available options in the Mauritian market to find the right home. Make sure to go on some prominent real estate portals, such as https://www.advalorem.mu/en/house-for-sale-mauritius.html and find a home that can turn out to be a perfect fit.
- Get in touch with professional realtors
No matter how much one tries to find a home on their own, it can be a bit of a hassle. It is especially true if the buyer is an immigrant or unfamiliar with the neighborhood. In such cases, associating with professional realtors or real estate companies can be the best bet.
Such professionals can help find a perfect home according to the buyer’s choice and needs. They can also help learn about ongoing open houses to save the buyer’s time and energy. Furthermore, once the buyer has finalized their dream property, they help carefully screen the entire documentation process, including the owner’s title deeds.
- Learn about the legal obligations
Finding a home in Mauritius is not just limited to choosing the right property and paying for it. There are a lot of legal obligations a buyer needs to take care of. Some of them are mentioned below.
- Hiring a notary: As per Mauritian law, the notary is legally responsible and has a mission for drafting the property deed. They also ensure that all the necessary documents are in line. A notary’s role is to review their records and ensure that there are no pending charges or mortgages on the chosen property. For instance, one cannot sell a property to a new buyer without any outstanding taxes or other charges. The buyer has the liberty to choose their notary.
- Paying the agency: If a real estate agent is involved in the house-buying process, a buyer also needs to pay a 2% commission to the agency.
- Managing the transfer fees: While buying a property in Mauritius, know that a buyer is supposed to pay the Land Transfer Tax. The amount is calculated according to the immovable properties that need to be transferred.
- Getting the property registered: Once the buyer transfers the selling amount to the seller, the notary submits the signed agreements to the Registrar General. It legally transfers the ownership to the new owner of the property. The deadline for registering the property is 8 days after the signature of the deed. Avoiding this can cause a penalty of 50%.
In the end,
Buying a home on the Indian Ocean Island of Mauritius is certainly overwhelming. So, use the tips mentioned above and live the dream of being a Mauritian homeowner.