Real Estate News
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Having a Wife On-Board with Your Home Purchasing Plan is a Good Idea
Having your wife as a co-applicant increases your home loan eligibility, even if she is just a homemaker. If she is an earning member of the family, then she can help you in sharing the burden of home loan EMI. When both you and your wife take the loan together, then you both can also claim the tax deduction. Registering the property in your wife’s name also means that you will be paying much less stamp duty. In every way, having your spouse as the co-applicant for the home loan is of benefit. Before you take a step towards taking the home loan, remember that your home loan is a financial responsibility that is going to last for a lon...
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Delay in Project Completion? What can a Home Buyer do?
Delay in the completion of projects is nothing new in the real estate sector of the country. There can be many reasons for the project getting delayed. From the developer running out of funds to the delay in permission from the government authorities, but in the end, it is the home buyer who suffers the most. Delay in project completions affects the home buyers financially and mentally. The pressure to pay the monthly EMI and rent for years without the completion insight puts a home buyer under undue influence. There are many cases, even from the reputed builders like Jaypee, Unitech etc. that is with the Supreme Court, waiting to be resol...
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Tips for Using the Annual Bonus for your Advantage
When you service the home loan, it is no secret that it takes a toll on your finances. Every purchase that is being made needs to be of value, and there’s very little space for mindless spending. At the end of the financial year, most of the employees get a monetary bonus which they use to upgrade their wardrobe or use that money to travel. Rarely loan borrowers are aware that one can use that bonus money to prepay their home loan. Is prepaying a good idea? As a home buyer, when you prepay your home loan, it either reduces your monthly EMI or brings down the tenure of your home loan. Both are a good option. But just using your bonus m...
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Questions that Concern Every Home Buyer
Home buying is a process that needs a lot of careful planning and consideration. One wrong choice and your entire investment can turn out to be the bad one. Entering the world of real estate can be intimidating with all the complex jargons and paperwork. Asking for help from the right person to help you make the right choice and right investment can make your home buying process a lot easier. As a first time home buyers, there are a lot of questions that concern every buyer. We discuss them here. 1. Is this the right time for me to invest in real estate? Investing in real estate needs a lot of funds. Even though the banks are ready...
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Things To Do Before Shifting to a New House
Shifting to a new house can be exciting, but one cannot overlook the endless things that one has to do before moving out. From packing your belonging to settling the bills, the list goes on and on. We list down the things one should do before moving to a new house: 1. Get the paint and cleaning: It is a good idea to get the home cleaned professionally before leaving the house. Some people like leaving the house painted as well. Getting whitewashing done is a sure shot way of getting the house cleaned. 2. Pay all the dues: When moving house, it is a good habit to pay the electricity bill, water bill and any other utility...
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How to Deal With Construction Delays Due to ‘Act of God’
Opting for the under-construction houses is a good idea. From comparatively lower price and the happiness of moving into a newly constructed home is unmatched. A lot of times, the buyers are left to wait endlessly to get the possession of their house. The construction delay due to ‘Act of God’ is something that no one has control on. Even if the buyers take the builder to court for the delay, in this case, the builder can win the case fair and square. Force Majeure is often mentioned in the agreement clause, but the buyers overlook that at the time of signing the agreement. We discuss everything that you must know about the clause. ...
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Keep Future in Mind While Buying a House
It is no secret that when looking for the right property to invest in, our present financial and requirements matter the most. When we plan on buying a house, financial capability is the primary factor that influences our decision. Even though the banks and financial institutions help in paying 80 percent of the amount of the property, the remaining 20 percent has to be paid by the buyer from their pocket. In such a case, making sure that the buyer has enough funds to pay the down payment and registration fees is essential. In the excitement of buying the house, we often forget the future needs. As you progress in life, your needs will cha...
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Tips on Saving Money to Buy House after Retirement
Everyone has different responsibilities, be it financial or emotional, in their lives. You might have been servicing and taking care of your family while your friends have been investing in property and buying a house while still in their jobs. You don’t have to do the same. But after you retire you must have a house and getting funds when the prices are sky rocketing, is difficult. There are several ways that one can take to save money to buy the house after retirement. Managing your finances and carefully budgeting your needs is a very important step to make sure that you are saving enough for future. We discuss them here: 1. Size ...
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Remember These While Moving From One City to Another
Moving from one city to another might seem like a massive task at first, but as you come to know of the services available that can make your move easy, the task becomes easier. Long gone are the days when moving cities meant substantial financial burden and a mountain of a task to move your belongings. There are websites now that can give you a range of rented accommodations and apartments that can help you in choosing the right place to live, fitting your budget and needs. Apart from that, the packers and movers now give you services where they help you move your belongings by wrapping them carefully and putting each of them in boxes. ...
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Price Correction and RERA Attracts the Home Buyers across the Country
For a few years, the Indian real estate has seen let down, and tremendously slow sales have been proof. But the government’s effort to revive the industry with RERA, GST and introduction of other laws has helped in reviving the real estate sector of the country. In 2018, the homebuyers showed more interest in buying the property. According to the ANAROCK report, 50 percent of the buyers in NCR was driven by the effective RERA implementation while 58 percent in Kolkata invested in real estate due to the reduced interest rates offered by the banks and home loan lenders. Hyderabad tops the race of home buying with 61 percent of the home buy...
