Being a homeowner is not an easy task as the entire procedure of availing home loan makes a person run from pillar to post. But, apart from comparing the financial institutions and documenting paperwork, the home loan applicants do not consider few essential terms which mean a lot to them particularly while repaying the home loan. So, here in this blog post, we help you known about the financial terms that sound heavier than owning a home:
Buying a home is a big task especially when you are buying a first home as it involves searching for a budget-friendly property in the location of your choice and many other things. Then come amenities and finalization of the budget of the respective property. But, one thing which you must consider as a top priority is the amenities. Every residential property offers more than one feature and thus it is the prospect alias you who needs to choose a property for purchase while considering the requirements of the given amenities.
In short, the budget for owning a home can get off the track in case you opt for a home with almost all amenities that are offered with the particular property. This result in an increase of the cost price of a residential unit and thus you must know how to choose a home with right kind of amenities for you and your family.
The Delhi Development Authority [DDA] come-up with a housing scheme every year in order to cater the requirements of the aspiring home buyers. Similarly, this year also, the authority has opened lines for the property aspirants to fill up the application.
DDA choose a widespread land piece for the construction of housing projects in multiple sizes and budget. This helps the people of every section to realize the dream of owning property in the National capital Delhi.
You must also be dreaming to be a landlord? But, the highs and lows in the financial conditions are not letting you decide about home buying. Well, the confusion in accordance to owe property is not limited to this reason. As people lose a lot of time thinking to buy or not to buy home even after having sufficient funds.
Basically, it’s all in your head. Actually, there is nothing weird about it as we have people with different perceptions around. Thus, we think about the certainty of any action while considering others opinion too. So, flush out the multiple thoughts from your mind and clam take a look at these ten signs that let you know if you are ready to buy the home or not.
Are you a working women professional and planning to buy your dream home? But quite unsure about the availability of home loans, interest rates or subsidy. Then stop thinking about all this. With Government and the whole country focussing on women empowerment these days even buying a house for a working woman has become an easy task.
Owning your own home is always a dream for every woman and today as most of the women are employed and salaried, they can easily become a home owner. Especially those women who have just started their professional career have many reasons to buy their own home. With the promise of a higher take-home pay package, lower interest rates on home loans, reduced stamp duty, and a swing of affordable housing options on offer, a women buyer has many reasons to rejoice.
Buying first home is always a dream for everyone. Obviously one gets freedom to decorate, have big rooms and other living space etc. We know that switching from one house to another is always stressful. But when one move to his own house, then the feeling is exhilarating.
Especially for a first time buyer, buying a home is the most important investment. Many sentiments and pride associated with it. A number of questions arise in the mind and sometimes this process lands home buyers in more panic state. [Read more…]
Raman promised his wife Radha, This year we’ll have our own home!
Digging his feet in, he said, “I need my own space, where Dhani (the couple’s six-year old daughter) can live the life of a princess.”
Over the years, Raman, who has worked as an investment banker with a brokerage house has saved enough to be able to invest enough in a luxury apartment, in one of the upcoming territories of the National Capital Region (NCR). A home would be among the biggest purchase, the young couple would be making and the decision cannot be taken in haste.
The question is- Can Raman build his house on his savings alone?
What other factors should Raman keep in mind while taking this most important decision in his life? [Read more…]
It is never too late to set new goals. If you want to understand what went wrong in the past and how to rectify your mistakes in the future, this is the right time to set up your financial goals along with your partner. Everybody has dreams and desires, and to fulfill them you need to set goals. You then have a set path along which you can go to realize these dreams and turn them into reality. Your dreams/wishes need an action plan behind them – something that spells how you can convert your dreams into something real.
This is especially important when it comes to financial goals. Since they require regular investments of money and lots of effort over a long period of time, you and your partner need a workable plan to bring them into reality. Merging finances as a couple will bear fruitful results in the near future. It is important that you as a couple have to be on the same page where your finances are concerned. One cannot be a miser while the other paints the town red.
Here are some tips which a couple can use to set their goals right so that every move is crystal clear. [Read more…]
Buying a home is a huge financial decision with far-reaching implications. It is perhaps the most expensive purchase of your life and the longest-lasting one- so be careful. There are lots of rules that one can follow when home hunting and different people have different interpretations, but the simple basic rules are as follows.
Rule #1- Buy Neighborhood over House
The old adage- ‘What are the three most important things in real estate- Location, Location, Location’ is the right answer. But in spite of being constantly repeated, it sometimes fails s to make a mark on the memory so neighborhood is a better substitute. There are certain parameters of grading premium location. Always, find the best neighborhood you can even if it means buying less of a house. You can improve the house but it is impossible to make changes in the neighborhood and fix major problems. Get out and find for yourself- it is the best way to check a neighborhood. Check out the schools even if you don’t have kids, schools means a good neighborhood. Find out about the crime rate, the Home owners association, look at the stores the traffic and see if you can find things easily in there. [Read more…]
Congrats! You are ready to buy your first home. Although you haven’t found it yet, in your mind, it’s perfect! May be used or un-used, buying home is always a dream and a homebuyer wants his home to reflect his persona. Buying a used home could add up to big savings and allow you to get a bigger piece of the dream than a brand new one. So it’s extremely important now to invest wisely and to keep few things in mind while buying used property as it might have few structural defects which can’t be ignored. There are a few things to check before finally moving in, especially related to the structure of the building.
Let us talk about these in some detail –
1. Check Runaway rainwater
A great philosopher truly said, “If there are 15 things that can go wrong with a house, 10 of them have to do with water”. Downspouts, Gutters, and leader pipes collect rainwater and pass it away from the house. In humid and wet regions, leaders should extend at least 5 feet from the house. Check the entire gutter system seasonally for proper pitch, corrosion, for clogs, broken fasteners, and separation between connections and where gutters meet the fascia board. [Read more…]