Advantages Female Home Loan Borrowers Get

India is a country which believes the progress of the nation lies in the progress of women. In the ancient times, women lead the family and played an important part in the financial decisions. With the advancing times, women are now again becoming self-dependent. They are exploring the world, winning medals for the country, reaching heights and buying their own house. While there is a tradition in India that the house is registered under the name of the oldest female member of the house, but she never truly is the owner.

Govt. is now coming up with various plans to encourage the female home loan borrowers. As such, the position of the women in the country is going to be strengthened. Let us see the benefits enjoyed by the women in case of availing the home loans from the banks and other financial institutions.

1. Women get the home loans at cheaper interest rates compared to men. This difference in the interest rate is very small (around 0.05%) but not negligible. Even a minute relaxation makes a huge difference in the monthly EMI to be paid. The home loans are in lakhs so the yearly savings are at least be in the tens of thousands.

2. To reap the benefits, a woman needs to be the only applicant, or the primary applicant if the loan is jointly owned by two people. The joint owner can be the husband; or father, mother or brother if the woman is unmarried. The woman should be financially solid and should have the ability to pay back. The husband-wife combination is the most preferable because it shows the stable future and potential to repay. However, the financial institutions get the assurances against any future disputes between the co-owners and may ask for the affidavits.

3. Women also get the relaxation in the stamp duty. It is the amount to be paid at the time of registration of the house. This varies from state to state and ranges from 2% to 8% of the actual value of the property. This is a huge amount and even a small relaxation is significant. One can avail this advantage only when the woman is the sole owner of the property or if it is jointly-owned, the other partner should also be a woman. This also varies with the states, so get the knowledge about the stamp duty relaxations before buying a property in any state.

4. It doesn’t end here. She also enjoys the tax benefits. When husband and wife jointly own a property, and separately claim the tax benefits, the savings just get doubled, provided the woman also has a separate income source.

5. Women are considered more credible as compared to men when it comes to paying back. They are the safe borrowers with a lower risk profile. So, the loan applications by a woman or by a woman joint owner are less likely to get rejected. Well, this is a not a rule laid down somewhere but women are considered more regular in paying back.

If you are a single woman trying to get by in the men’s world or you are just starting the new phase of your life, amend your credit score, get a home loan and buy your dream house. It is a matter of rejoicing, a way to celebrate freedom.
Original Source : http://www.ownaroof.com/blog/advantages-female-home-loan-borrowers/

 

Real Estate Clichés: Why You Believe What you Believe

Real Estate is guided by many clichés. We have made a sphere of some beliefs around us that we consider before buying any property. Some of them are true while some of them are plain nonsense, yet we believe them because of their widespread reputation. Let us know the truth behind these real estate clichés.

1. Location, location, location

What the fuss is about the location of the property? Every realtor and the builder would sell his property advertising its prime location. When you plan to buy a house, your relatives would advise you to consider the location. So basically, the importance of location is paramount. And that is not a myth. The appreciation of the property depends on the location, the better the location, more would be the selling price after a period of time. Even if the market crashes and the prices of the property falls, the projects at the prime locations are least affected. Also, the neighbourhood defines how easily a property would be sold. After all, no one likes to buy a great house in a bad neighbourhood. So, do consider location before buying a house.

2. Price your property well to sell

Some people price their property too high to leave a room for the negotiations. As a result, they do not get an offer. The property remains in the market for a longer period of time and then it becomes tough to sell it. Some people keep the price of the property lesser to get many offers and enthusiastic buyers. It may work in some cases when a war to purchases starts among the buyers. But the plan may backfire badly when they get the offers lesser than quoted price because today’s buyers do not purchase at the seller’s price.

3. It’s not the price of the house, it’s land’s price

While we may think that the value of our house is increasing with time, it is actually not. With time, the house, its walls, electric circuits, plumbings deteriorate and the value decreases. That is the reason homeowners renovate the house to sell better. The old houses are not bought because they need high maintenance. So, when someone says you that the price of the land appreciates and not the house, do believe him.

4. The view from the balcony (Sea facing??)

Similar to location, the face of the house also matters. If your home is sea facing or mountain facing, it sells better than other houses in the locality. No one likes to wake up and go to the balcony to see the fish market. But then the million dollar view matters more in the luxury sector as compared to the affordable sector. Moreover, you can always convert your house into a staycation or homestay to reap the benefits for a longer period of time.

5. There is no such thing as too much real estate

Owning a house is every man’s dream. But if you have your own house, and looking for something to invest into, buy another one. Real estate is the best investment when it is for a long term. The returns are less than the stocks but you cannot rent a stock, right? Moreover, the appreciation is better than the gold too. The majority of the millionaires of the world invested in the right property and real estate is the reason behind their success. If you have significant money in hand, buy a house or a land.

6. Don’t wait to buy a property, buy property and wait

The real estate market is always fluctuating and there are a lot of variables. There is no perfect time to make an investment, or should we say; now is always the best time to buy a real estate. The real estate investors should wait for a considerable period of time before selling the property. They can earn from the real estate even in the sleep and sell it when the market is skyrocketing.

So, now you know the reason behind the popular sayings the real estate in Jaipur. Stay informed to make the right decision

Original Source : www.ownaroof.com/blog/real-estate-cliches/

The Kind of Realtors You Meet (And Wish You Hadn’t)

Selling or buying a house is one of the toughest decisions and so, we are always happy to loop in another experienced person in the process.
This person is known as the realtor or the broker.

A good and professional broker would always close the deal on your terms and get you the perfect house or the perfect buyer for your house. However, like every profession, real estate also witnesses the unethical realtors who always deliver less than the promised.

If you are not careful enough, you can easily be cheated and scammed by such people. There is an option to find the real estate builders in Jaipur online but some people like to do the property search the old school way.

Getting a broker to sell or buy a house is the first step that needs to be taken with a great vigilance. There are some tells and the red flags that can give away the true nature of these people. So, let us see what kinds of the realtors you meet while selling or buying a house.


1. ‘The Big Picture’ RealtorsThe Big Picture’ Realtors
These are the realtors who always over-promise. They set your expectations high and push you to keep the unrealistic prices for your house. The price more than you expected? You will be fascinated with the idea and thus, you instantly like the person. When you do not find the buyer after a long time the house has been on the market, the realtor goes MIA. It is necessary that you keep the expectations realistic and set the right price for your house.

2. ‘Less is More’ Realtors
These are the realtors who believe that you do not need to ‘know it all’. When you are buying a property, they would tell you that the property is a steal at the price without disclosing that the neighbourhood is bad or the house has been a nucleus of the crime in the past.

When you are selling the house, they would advise you to keep certain bad things from the buyers. Well, honesty is the best policy and that goes while property transactions too. The best outcome is certain when you are straightforward with the person you are signing the deal with.

3. ‘Old Car Salesman’ Realtor
Know much about the old car salesman technique?
They are tough people who do not hear No. They are so convincing that they always sell you an old car at their price. Some realtors are so pesky that they would convince you anyhow that this deal is the best one you can get. Expect a lot of calls daily asking if you have taken the decision already. No doubt in the financial competition they have to be closing the deal and go lengths make the sale happen. The thing is they would never reflect that the deal is beneficial for them, they would tell you it’s for your own good.

4. ‘Bait and Switch’ Realtors
You like a house and they ask you to consider one more. These kinds of the realtors show you the house which is off the market. When you have shortlisted one, they would upsell you the houses which are no-doubt better but a little over your budget too. They would keep upselling you until you reach the price you cannot compromise with.

5. ‘Techno-fear’ Realtor
Techno-fear’ RealtorWhen the world is evolving, there are some realtors who are not ready to come out of their cocoon. They are ‘anti-open houses’ and would tell you not to believe what you see on the internet. They have an old phone with no WhatsApp because they think that technology is confusing and no good can come out of it. Instead of showing the 3-D view of the properties on the computer, they would take you to the places to have a personal experience. Well, a physical inspection is good, but visiting so many places? It’s tiring.

Realtors sell more than the houses to people, they sell the dreams. They act as a bridge between two people and help the uninformed. If you are not savvy enough, you can easily end up hiring a trickster. Ask realtors as many questions as you want before hiring him. Some people believe that realtors cost you money, these five kinds of the realtors are exactly who they are talking about.

So, brainstorm a little and hire the one with ethical practices.
Go to the niche real estate sites and find the real estate builders in Jaipur or any area you are planning to settle down. Have some knowledge so no one can cheat you.

If you have sold some property or bought one and came across such realtors, please comment below. Foy any help, start a conversation in the comments section below.

Original Source :  http://www.ownaroof.com/blog/kind-realtors-meet/