Tag Archives: property buyers

Financing your property buying simplified

Bangalore, Buyers Guide, Mysore, Real Estate Channel partners, , , , , , ,

Buying a property whether it is house or plots or land can be exciting and cause for celebration but also exhausting if you’re not prepared for it. Preparing your finances is a big part of buying properties. Here are few things you should consider before financing your property purchase.
First, Set up a budget based on your expenses such as buying habits, monthly bills and instalments, family commitments and other stuffs including medical and hospital requirements.
Second, Try to reduce your debts and increase your income. Sell things which you aren’t using or lying inactive. Clear unnecessary goods which are no longer in use. Pay more on credit card bills and other instalments if any to improve your credit scores. Good credit history improves your credibility. The last thing you want to find is that you’re not financially qualified to buy it. To guarantee you’re financially ready to buy your first home, you’ll need good credit, encash, and a verifiable income.

Third, Save money for down payment. Paying higher down payment while buying a property can get you better offer and lower interest rates on your bank loan.

Fourth, Check for Govt. Housing Schemes and subsidy or Grants if you are eligible for it. As eligible buyers can avail part of the total amount through this.
Keep your documents ready to verify your income and finances. Good Luck.

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Top 5 Home Buyers Mistakes

Buyers Guide, Mysore, , , , ,

Buying a home takes a lot of time and preparation. Being well prepared is worth it in the long run.

While buying your dream home, you must always clarify how much it is going to costs  you to buy a home. The expenses that comes with owning a home. is first of them.  Ignoring  additional expenses of buying a home is very common mistakes a first time home buyer makes.

Relying very much on online home value estimation stuffs can be misleading and may costs you both time  and money when buying your first home.  But, just for assessment its recommended to get all the facts ready.

Some may not give much attention for the  property or home inspection  but it is one of the worst first time home buyer mistakes  of not having proper inspection  it can avoid lots of trouble and your hard earned money.

Making  changes in you purchase budget before finalizing the deals can become dangerous and can be  seen  frequently. For first time buyers , the number one reason is  awareness.

Not asking  questions on doubt,  no matter how silly your questions are  don’t feel embarrassed to ask .  If you have any question for us don’t hesitate to ask.

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How will home buyers benefit from RERA?

Bangalore, Buyers Guide, Hubli, Mysore, , ,
  • Home buyers who use the services of realty agents and agencies will now be protected as the Act renders brokers and agents punishable if they do not abide with the regulator’s strictures ruling.
  • It will bring transparency, better governance and accountability to the real estate transactions and processes.
  • False promises and wrong delivery of real estate property will end.
  • Home buyers can approach the authority to settle disputes with errant builders.
  • Developers will have to sell flats based on carpet area and not super built-up area.
  • 70% of the money received from buyers be deposited in an escrow account and used only for the purpose of the development of a project.
  • The unfairly falsely allotted property buyers is entitled to receive compensation under RERA.
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Will RERA change the way real estate functions?

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Definitely. With a promise of protecting the right of consumers and ushering the transparency The Real Estate (Regulation and Development) Bill, provides a legislation to protect home buyers and encourage genuine private players. Passed in March last year the long awaited RERA Act has finally coming into effect from May 1 where consumer is the king.

It will change one’s home-buying experience as the primary aim of the Act is to bring transparency and accountability from all stakeholders. Violation of orders of regulatory authorities may cause imprisonment of up to three years for developers and up to one year in case of agents and buyers . it will make mandatory for the builder to disclose details like approvals received, layout plans, court cases against them,registration etc.

Demand will improve as buyers will have increased confidence about investing in the property market. The real estate prices will remain stable now but rates could rise in the next six months. RERA will boost the confidence of investors. It will protect buyers who have purchased flats in the past. the RERA will provide relief to home buyers. It will help buyers get well-defined product typology and interior specifications. Therefore, Buyers will be able to make informed decision on a well laid-down information.

 

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Investing in real estate property and financial stabilty

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real-estate-investment
Does owning a house still mark a significant achievement in realizing our financial dream? Now a days we may notice that more people are choosing to rent instead of buying a home. The most common reasons I guess includes housing prices are too high, payments are too expensive. There is some truth in those reasons, but I hope to make a case for owning your own home that goes beyond an investment. Owning Real Estate is more than just financial dream it make you feel the stability in your life. It diversifies your overall portfolio. Most investors recognize the value in diversification among different asset classes to reduce investment risks. Having the appropriate mix of investment enhances the chance of reaching your investment objectives while minimizing risks or chances of failure which may occur sometimes. Today we are observing a lot of uncertainties around the world which affects our jobs, businesses, investment policies and so on in one way or the other. Government policies like Real Estate Bill, Housing for All and Demonetization had made the Real Estate market more transparent and stable for the long term for both buyers and property holders. These events makes the changes the way we want to invest our hard earned money. As investors we react to these changes and it affects our choices.I am sure that it feels pretty great that at least one asset you own, the home you live in whether it is your rented property or you own them sees some consistent appreciation.
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Real estate properties a preferred investment option for Indians

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Real estate has always been a preferred investment option for several Indians like other investment options such as gold. Choices of investments may differ but investors in all financial categories follow more or less the same pattern or have similar preferences. Not just wealthy Indians, even middle-class and lower-income groups dream of owning a home or investing in real estate property and are keen to save all through their lives to buy properties.

According to the recent report, the real estate sector will be a preferred option even in the next 5-10 years. In the last ten years, the billionaire count in India has increased by 333 percent while the global growth was just 68 percent, which points to the growth of wealth in India. And these people preferred to invest in real estate sector. The average number of residential properties owned by wealthy individuals stands at 4, while the global average is 3.7, thus highlighting Indian’s inclination towards investment in the realty sector. One-third of wealthy Indians increased their asset allocations to residential real estate over the past decade.

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