The Reverse Mortgage loan Scheme offers financial support particularly to senior citizens, who are usually not keen to sell their home. But, the issues like dependency on children or low pension rate push them to take such a hard discussion. Apart from the retired people, the about to retire citizens also think about how to have a financial stability in life post-retirement. But, now it’s time to smile and enjoy life as the availability of Reverse Mortgage Loan Scheme is the best way to live an independent life till last breath.
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 dream of being a property owner has become easier for almost every aspiring home buyer in India. The top reasons for realization of this dream are the unveiling of Pradhan Mantri Aawas Yojna [PMAY] Scheme that offers subsidy to the home buyers up to a limit and under certain conditions. Then the formation of Real Estate Regulatory Authority Act also known as the RERA Act.
This law started its full-fledged working from 01st May 2017. The guidelines of this Act help the home buyers in each aspect of the home buying procedure. The fool-proof working of the RERA Act leaves no loopholes from where the developer/builder can escape after selling a property via wrong ethics. A home buyer can keep his money and property safe by opting for a property purchase in the project registered under the RERA Act of that particular State.
In recent times, a new concept which has gained a rapid acceptance in the whole real estate sector is of Integrated Townships. They have become so popular among real estate developers that most of the projects which they are developing in current time are designed as integrated townships only.
An Integrated township spans around acres of land which include independent houses, apartments, offices, shopping malls, cinemas, schools, hospitals and all other facilities like police and fire stations.
Difference between Residential and Commercial Property
A residential building has capacious area, open spaces and dedicated parking arena. Whereas the commercial properties comprise of lesser space and won’t actually have a detailed structure of a washroom or a pantry. These two elements are separately constructed in the space you have for running a shop, coaching centre or any other business.
The increase in income inflow enhance the chances of earning dual properties and the home buyers today have become smarter than ever and thus wish to invest in buying a second home. Actually, the paying of two home loans at the same time is difficult and the maintenance of two properties in one go is also a challenging task to perform.
In short, the home buyer needs to hire tenants for any one of the properties they have and the buying of a second home alias property is best to earn a fixed rental amount. But, buying of a second home does not assure you to earn a fixed rental income as a lot of factors depend upon the incoming of rental income. Therefore you must consider the below-given list of things before purchasing a second home as an investment option.