Tuesday, 12 September 2017

Factors that can help you determine whether to Rent or Buy a House



The question of whether to purchase a house or stay in a leased place has always been a debatable thing. The change from being a tenant to a house owner is a complicated one, both financially and emotionally. Investing in a property is no doubt a smart choice; provided you consider the below mentioned factors:



  • Owning an apartment is an expensive thing and if you do not have the means to pay for it out-and-out, you will need to opt for a Home Loan. In case you opt for home loans, then it is important to keep in mind that banks tend to give you a loan around 80 to 90% of the cost of the property. This means that the rest 10 to 20% needs to be given by you. Moreover, you will have to ensure that you have sufficient cash to make the down payment.
  • Another important factor that you need to consider is the ratio of debt and income. This is basically the number of loans that you have taken in proportion to the income. When taking a loan, most lenders look at this proportion to ensure that you do not default on your debts and loan payments.
  • When purchasing a house there are other expenditures to think about such as insurance, property tax, maintenance and annual repairs. You also have to think about which city to buy the house in, the Metros or the Tier II cities like Mohali that will be soon developed as smart cities.
  • When you buy a house, keep in mind that you need to give up on flexibility. In case you shift jobs and your new office is at a distant location from where you stay then that can be an issue. Obviously, there are ways to cope with this but it is something to think through when deciding whether to buy a house or rent one. If you can buy a house in the city center, in cities like Mohali you can surely save up on the travel time and easily reach your workplace.

As mentioned above, there are a range of factors that needs to be considered while making the decision to stay on rent or buy a house. Real estate is an ideal asset class to possess and can act as a guard against inflation. But, you should not buy a house just because it is good to own a property. A careful analysis of the above mentioned factors should help you to determine if you can purchase an apartment or buy a villa in Mohali or similar Tier II cities or continue to stay on rent.

Wednesday, 5 July 2017

What are the Factors that Determine the Price of a Residential Plot?

Villas-img-2 

If you are thinking of purchasing a residential plot, then it is important that you understand the factors that are taken into consideration while determining its price. Purchasing a residential plot is essentially a monetary investment and hence, you must ensure that the investment produces good returns. Additionally, evaluating the factors that affect the price of a residential plot is essential, so that you do not pay more than the required amount. Managements of renowned real estate development firms insist that clients must have a thorough idea of the ongoing price of residential plots of a certain region, so that they do not fall prey to unscrupulous realtors. Moreover, it is advisable that you purchase a residential plot from a renowned real estate development firm, so that you can be assured about the pricing of the plot of land.

Factors that Influence the Price of a Residential Plot

If you want to buy plot in Mohali then the first thing that you should take into consideration, while evaluating the price of the residential plot is, its location. Prices of residential plots that are located near an important by lane will definitely be higher than one that is located in the interiors of the region. Additionally, residential plots within integrated townships are more expensive than standalone residential plots. Hence, the location of the residential plot plays an important role in evaluating the price of the piece of land. Some other factors determining the price of a residential plot are as follows:
 
The topography of the land, such as quality of the soil, rocky terrain, presence of water and other such factors also affect the price of a residential plot. The price of fertile and agricultural plots are usually higher than residential plots that do not have any significant features.
 
The size of the plot, i.e. the square foot area of the residential plot that you wish to purchase is also a crucial factor in determining price of the piece of land.

Thus, features like the location and size of a residential plot are the major factors that determine the price of the plot of land.
 

Tuesday, 30 May 2017

Why Invest in the Delux Villa of a Reputed Builder in Mohali?

The delux villas are normally built in order to cater to the demands of people who like to live in such independent houses and are willing to spend enough to enjoy luxurious living in such apartments. People who want to live a lavish lifestyle normally invest in these villas.


If you are planning to invest in a delux villa, and want to know more about the different features and benefits that you can expect to have is such a property if it is developed by a renowned realtor. Read below:

  • The luxury villas are very spacious and every aspect of such properties are built to exude class and luxury. These villas are available in a variety of sizes ranging from 250 sq. yards to 500 sq. yards.
  • These villas are a perfect balance between the ethnic and the contemporary life style and are made to promote green living as well as give every occupant their own space.
  • Generally, the villas that have come up in Mohali also have center courtyards, which have always been an important feature of Indian homes.
  • These villas also have beautifully constructed dining, living and lounging areas so the occupants can enjoy a comfortable living.
  • A front lawn is also an essential feature of such luxury properties.

So, if you can arrange for enough funds to purchase a villa, you must try to buy the expandable ones that are being developed by reputed property developers across North Indian cities like Mohali. The expandable delux villas in Mohali have a lot of room for expansion, and you have the option of designing the villa, the way you like. In such villas, you can keep an open terrace, or build a small temple on it or if you want, you can also have an awning that can be controlled by you. In short, the expandable villas allow you to tailor your terrace as per the individual requirements. Moreover, investing in the real estate project of a reputed builder will also help you to get proper value for your money.

Monday, 8 May 2017

What should You Look For While Purchasing a Luxury Villa?

Villas are preferred by individuals who want to enjoy the pleasure of in a standalone house and at the same time have easy access to all modern amenities. Luxury villas can be purchased from real estate development firms, which are involved in developing modern or hi-tech cities. Villas, which are located within a ‘hi-tech’ city, ensure that you enjoy the privacy of living in a standalone house. At the same time, villas in hi-tech cities provide facilities like one hundred percent power backup and twenty-four hours security, to the residents. Nevertheless, there are certain points to be considered while purchasing a luxury villa and some of these have been discussed below.


Guidelines to Purchasing a Luxury Villa

If you are looking for extraordinary villas in Mohali then ensure that you purchase it from a renowned real estate developer. A Luxury villa demands a huge monetary investment and hence, it is advisable that you procure a home loan. If you purchase it from a renowned realtor, then you will have easy access to all legal documents, thereby making it easier for you to get a home loan. Some of the other points to consider while purchasing a villa are as follows:
  • Since a villa is primarily a standalone house, it is essential that immediate area around the villa or the courtyard have landscaped gardens. This will add to the overall ambience of the villa.
  • Check the total square yard area of the villa. The areas of luxury villas can range between two hundred and fifty square yards to five hundred square yards. Depending upon your budget and the design of the villa, you should select one that meets your requirements.
Purchasing a luxury villa requires extensive monetary investment and hence, it should be done only after careful consideration of all aspects of the property

Wednesday, 29 March 2017

What are the Advantages of Purchasing an Independent Floor?

If you want to live independently, but at the same time want to enjoy the facilities and amenities offered by high-end residential complexes, then you can consider purchasing a builder floor. Many real estate developers, with construction projects in commercial hubs like Mohali, mention that individuals from the high-income group often opt to purchase independent floors, because of the privacy offered by such properties. Additionally, homeowners can design the interior of the independent floors as per their requirements. Some of the benefits of purchasing independent floors have been discussed below.

Purchase Independent Floors to Live Comfortably
If you want to purchase independent floors in Mohali then ensure that these offer the following facilities:
Location: The independent floors should be located in an area that is in close proximity to roadways and highways. This will ensure that you do not waste time in travelling. Additionally, the valuation of any property located close to an arterial road will appreciate at a rate faster than ones located in the interior.
Open Spaces: The property that you are looking to purchase must be surrounded by green spaces. This not only adds to the ambience of the region but also provides adequate area for children to play. The surrounding areas of the property should support the luxurious and comfortable lifestyle.
Furnishings provided within the Floors: The facilities and furnishings provided within the floor should be utilitarian. Ensure that the floor has facilities such as oil bound distemper false ceiling and modular kitchen with HOBs.
Hence, if you are looking to purchase an independent floor then it is advisable that you do so from a renowned real estate developer. This will not only guarantee the legality of the transaction but also assure you of the quality of the construction materials used. There are many reliable developers that offer beautifully-designed independent floors in Mohali.
  

Thursday, 23 March 2017

Importance of Bank Home Loan Pre-approval for a Residential Project

If you want to purchase a luxury apartment in a fast growing real estate destination like Mohali, it is essential that you ensure that the apartment is a part of a bigger housing project. Real estate developers procure bank pre-approvals for home loans, to help homeowners purchase houses with ease. Additionally, home loan pre-approvals also assure homeowners about the authenticity and legality of the project. The reasons for purchasing houses and apartments from residential projects pre-approved by banks have been discussed below.
House in Mohali

Purchasing a Luxury Apartment from a Bank Approved Residential Project
If you want to buy house in Mohali then ensure that the residential project is being developed by a renowned realtor. This will ensure that the project is pre-approved by banks and financial institutions. Some of the advantages of purchasing apartments from residential projects that have been pre-approved by banks and financial institutions are as follows:
  • In order to purchase a luxury apartment or a house, you may need to apply for a home loan. And, if the loan passes the scrutiny it guarantees the authenticity and legality of the transaction.
  • If you purchase a house at a residential project that has procured bank loan pre-approval, then the application for the home loan and disbursal of the loan amount will be faster.
  • If you consider bank loan pre-approval to be a prerequisite in your search for a house, you will not have to do extensive research. This will help narrow down your search for a house to exclusive residential projects.
  • Bank loan pre-approvals are granted only to recognised real estate developers. Hence, you can be assured of the quality of the construction project as well as the legality of the project itself.
  • Thus, purchasing a house from a residential project that has procured home loan pre-approval from banks and financial institutions will help you gain confidence about the authenticity of the real estate developer.

Thursday, 9 February 2017

Why Mohali is a Great Destination to Own a Flat?



Real estate industry in Mohali is growing at a fast pace as the Punjab Government is keen to develop it as a commercial hub. There are ultra-modern townships that are coming up across Mohali. The proximity of Mohali to Chandigarh is one of the major factors that make it an attractive destination for real estate developers as well as home buyers. 

According to a renowned real estate developer, if you want to enjoy a modern lifestyle, then you can consider purchasing an apartment in one of the townships in Mohali. 

Living in a Township in Mohali

For those who’re looking for flats in Mohali for sale, there is no shortage of options. Most homebuyers opt for Mohali as they want to live away from the hustle and bustle of major cities, but at the same time want to enjoy all the amenities that a modern city can offer. Some of the reasons behind purchasing a flat in a township in Mohali have been discussed below-

· All townships have facilities such as shopping malls or multiplexes within the township or in close proximity to the region. This allows residents to gain easy access to modern amenities like department stores and enjoy exclusive shopping experiences.

· As the township will be designed right from scratch, you can be assured of organized roadways, by lanes and easy connectivity to arterial roads. The planned nature of ultra-modern townships makes it easier for residents enter and exit the complex. 

· Most residential complexes in townships are earthquake resistant and are built in an eco-friendly manner.

Thus, if you want to live comfortably, then consider purchasing a flat in an ultra-modern township in Mohali. However, it is advisable, that you purchase the apartment from a renowned realtor to be assured of the authenticity of the transaction and construction quality of the flat.