Tuesday, 26 September 2017

Advantages and Disadvantages of Independent House and Apartments


If you have decided to buy a home, the immediate question that rises in your mind is that, “Should I get an Apartment or an Independent House?”

Considering major factors, there are both benefits and drawbacks of both options. Before taking a decision make sure to check out the various factors below.

  • Are you going to get the apartment or individual house in the place where you have resettled? In this case, there would be only a few members.
  • In which stage of life you are? Bachelor, married or with kids? You will need extra rooms in case of elders or other members.
  • Know your job type, are you a person who travels often or shift cities for various job offers?

Ok, now let’s check out the pros and cons of both Independent House and Apartment in brief below!

Benefits of Independent Home

Be ready to grab an independent house if you are satisfied with the following advantages.

  • You will be able to enjoy higher degree of freedom if you opt to an independent house
  • You could design your house as per your preference and likes.
  • You can alter the interior and exterior of the home based on the latest trends.
  • You can set up a garden area if you are a person who loves gardening.
  • You will be able to take care of your pets and group them without any disturbance as you wish.
  • You will have more privacy without any problems.
  • You could expand the space at your home as required when your child grows up.
  • You could develop higher floors and get income by providing the room to rent.

Drawbacks of an Independent House

Though Independent home provides you the maximum comfort, they too have some of the cons.

  • Security can be a risk if you are staying alone in an independent home.
  • Adding up facilities like AC, Power backup and other equipment can be expensive and managing can also be difficult at cases.
  • You need to spend an amount for sports facilities and external clubs if you are in an independent home.
  • In case of electricity fails or other problems, you will need to call service men each time.
  • Household security would be a hassle if you are the one who travels often for the business works.
  • In the case of expensive lands which includes tier 1 or metros then you would not be able to own the spaces for your garden or to walk around.

Advantages of buying an Apartment

Here are some of the benefits you can enjoy if are in a mind up to get an apartment.

  • Security is high at apartments and you need not worry about traveling anywhere.
  • Facilities namely water backup, power backup etc. can be easily rectified in the case of an apartment home.
  • Most of the apartment will include external clubs, gyms, sports facilities and much more within them so that you need not go out and spend a lot outside.
  • You can make a call anytime in the case of electricity fail or any other problems as there will be a person to reduce the hassle of maintaining your home.
  • In case of shifting, you can provide the home to rent and therefore a huge income is guaranteed.
  • There is wide space for parking in the case of an apartment home.
  • Most of the apartments will be convenient with apartment complexes and other basic stores within them so that you need not go out for getting the items often.
  • There will be person or staff allocated in the apartment to pay your water, electricity or any other bills which mean you do not need to put extra effort.  

Disadvantages of an Apartment

Follow up the drawbacks of an apartment home below

  • In the case of common facilities, you will need to spend some of your money and this can be expensive in some cases.
  • You will not be able to make the alteration on exteriors of your home.
  • You will not be able to set up your home as your wish.
  • Limited space at the apartment will not let your pets to grow with freedom and you will not have much space for setting up a garden.
  • There will be a lot of disturbance in case of celebrations or functions in one of your neighbor apartment.
  • No chance of expanding the apartment further in the future for your children.

Final Thoughts

Hope the above pros and cons of both Independent home and Apartment made you clear in getting the right one.

Any queries, thoughts, and ideas on the topic are welcome!

What do you prefer? Apartment or an Individual Home?

Tuesday, 19 September 2017

How to choose the best plot for residential use?

Getting land in India is considered to be the greatest part of living and a great aspect in saving huge money. Once you have a vast amount of money in your hand or else you have decided to invest the saving in some schemes then the right choice is to invest it in the piece of land that would get popular and increased value in next five years.

Tips for choosing the Best Plot

Choosing the block of land for the residential home is important as selecting the high-quality house design and best community. Few blocks may have better views and some other will have various elevations with aspects and block sizes.

Proceed below to checkout some of the essential things you need to look for while selecting the best plots for residential use.

Size of your Block of Land

Before making the plot your side, check out how large is the block of land available within the preferred community. Few house owners prefer low maintenance block whereas some prefer with high maintenance.

The Smaller plot of land is preferred in the case of low maintenance block areas and larger plot for high maintenance block of lands. I have seen people love outdoor entertaining, in these cases larger plots with multiple rooms for the pool, kitchen etc.

There are also some persons in the family who don't like spending too much time at home, in those cases you need not worry about the size of the block.

Check for the zoning

You need to be sure whether there is any zoning requirement needed for the house block, this can limit you in the case of building your land. Setbacks, easements, and storm water drain access point indicated the permanent structure on the particular part of your land.

The House Block Aspects

If you love the early morning sunrise or sunset to check out on your outdoor patio? Someone will love to get the maximum amount of sunlight in their garden or backyard to set out their veggies in the home.

The home orientation movement may differ and the blocking aspect will determine the original style of the home as you select, this would be high in the case you are in need of the energy efficient and solar power home and this will provide the fantabulous look for your home.

Covenants

There are chances for covenants in the desired place you choose for the purpose of look, integrity, and feel of the houses developed, this is specially built with design guidelines that help to maintain the overall feel a community housing can provide you, in this cases you will also have the desired flexibility to design the house as per your style.

Few people hate covenants but the fact is that they help in protecting your investment and the properties future capital growth if you are developing the community of the house within the limited area.

The Plot Shape and Size

The important thing you need is to decide the size of the block you are in need of your family or friends lifestyle. Each block in a plate will differ from each other and are available in various size and shapes.

Sloping blocks will provide fantastic views but it's important to have a spectacular home design and it should suit your family infrastructure too. Talk to your developer of builder about this and design it based on the preferred space on your plot for the purpose of residential use.

Final Words

Hope the above tips for choosing the plots for residential use will help you in choosing the right type of plots.

Any ideas, queries, and thoughts on the topic are welcome. 

Saturday, 2 September 2017

Is It Safe To Invest In An Under-Construction Property?


Running a middle-class livelihood is not just a point & the job holder in the family have short & long term goal instantly after getting into a job. Considering short term, it is about getting compact essentials to proceed every day basic needs, while long term goal may be the dream for an own property.

Expert says that selling an under-construction property is a good deal for developers but, if you have an idea to invest on it, you must think how secure it is to invest in it. The important question to be raised by the person who is going to plan to invest in an under construction property should be like “Is it safe to invest in an Under-construction property?”Just spend few minutes to reap some guidelines before investing in it.

Interpretation of the pre-launch rate & present rate
 
This is considered to be one of the important things to consider before investing in an under-construction property; both the pre-launch & present rate depends on the market trends & the neighborhood. According to that, the Pre-launch rate will fluctuate over time, which fixes the rate depends on the market trends whereas the present rate is the fixing that depends on supply & demand.  

Know the resale rate

Having a clear idea of the secondary market price of the property is advisable. Before investing in an under-construction property check whether it has the future hope in price elevation. If you are not aware of the resale price of the future then there are high chances for various troubles, so make sure to move with the experienced persons in such cases.

The allotment letter

The developer consigns you an allotment letter instantly after the booking of a flat at the pre-launch stage which seems like “agreement to sell”. This is the legal proof that buyer should procure at the beginning itself. This is not a registered document so, buyers should be careful about it. This seems to be a simple affair that mentions the developer, buyer of the property & some information about the purchased flat.

The date of booking, amenities & the location of the flat is all included in the allotment letter, as this agreement is mandatory for the buyer in the case of the developer deviation.

Contact existing owners to get better rates

Before getting into the booking, you have to analyze the existing rate of the similar projects from the owners or others who paid for comparable properties. Clarifying is the best option for you to succeed in the row; you just cannot get tempted by the attractive prices at a small premium by the developers. When it comes to under construction property, it’s good to find the best rates at pre & present time.

Title certificate

Take ‘Title Certificate’ from the property lawyer to avoid disputes such as unnecessary arguments among landowners & developers, government approval & so on. When purchasing an under construction property, It is advisable to get the title certificate before investing in it.

Pre-EMI terms

Pre-EMI is a mandatory thing, when you are planning to opt an under construction property because of the lower interest compared with actual EMI. Pre-EMI interest is helpful to the buyers for acquiring the property, but you can’t find it always attractive as it appears. Pre-EMI interest raises the cost of the property rapidly, that seems as a negative aspect. This plan will be a burden when an unexpected delay occurs.