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/

 

Dress to sell : Qualities of a Real Estate Agent

When in doubt, seek the professional help. Real Estate agents are such the experts you should hire while buying or selling a property. They know the market like the back of their hand and can guide you to the right direction. They know the difference between right and wrong without confusion. Hiring an agent always ensures the best in your favour. Let us see what makes an agent great.

1. In-depth local knowledge

It is always better to hire a local agent than the most popular one in the city. The local agents are well-informed. They know the history of the property like whether or not it is haunted. On a serious note, most of the buyers do not have knowledge about what they are getting into before buying, agents have a responsibility to create a trust among the buyers. They should provide real insights to the buyers to help them gain the maximum. He should also be certified to be an agent.

2. Time driven

The longer you wait in the real estate, the more you lose. The agent should always act fast whether it’s selling or buying. For selling, he should be organising the open houses, reaching to the right prospects right away. For buying, he should understand your requirements and start scanning the desired properties. The faster he gets the work done, the credible he becomes.

3. Well-dressed; inside and outside

An agent should also look good. He should always be dressed well to show his commitment towards the work. A casually dressed agent can look lethargic. He should also be polite and no matter what the buyer/seller says, he should not lose his wits. Sometimes, people can be irritating but an agent should always be nice to them.

4. High reaches

He should also be well connected. Connections make the work done fast. The agents have a wide list of buyers and sellers. A good agent can identify the right buyer for the property fast. This is the reason you should contact the experienced agents, they just know their work well.

5. Confident but honest

Real estate is much about the looks. If the agents wear a confidence, they can help the impatient sellers and the anxious buyers. They should not be making false promises like selling the property overnight or for the double the actual value but at least, they offer some confidence to the employer that they have selected the right person for the job.

6. Knack of technology

He should also be a lover of technology. In today’s world, you can find everything on the internet, India is also moving online for finding the right property. Agents need to be tech savvy to provide instant answers. He should know current trends in the market and do not consider the technology as competition.

7. Answers phone

He should always be available for the clients, every time of the day. He should never switch off his phone. He must know the preferred way of communication of the clients. Some like to be called on the phone, some prefer emails while some like to talk personally face-to-face. Agent should reach out even when the clients are pulling back. He should have a proactive approach to crack the best deal every time.

8. Result-oriented

At last, the track record matters. He should have served many clients successfully. Ask for the testimonials and speak to some of the previous clients. If his previous clients are happy with the work, you can gain more trust in him.

So, you know what to look for an agent. Observe the red flags and do not make a mistake. Buying and selling real estate is a big decision.

Original Source : http://www.ownaroof.com/blog/dress-sell-qualities-real-estate-agent/

How NRIs Can Buy And Sell Properties In India

Non-residential Indians do not enjoy the same taxations on real estate dealings in India as the residents. Before buying or selling the real estate in India, it is essential that they comply with the tax rules. Since the NRIs have been showing tremendous interest in the properties in India for the last few years, the Foreign Exchange Management Act has established some ground rules.

1. If the property has been inherited by the NRI, he would not have to pay the taxes on the ownership. When he sells the property or rent it, he would be liable to pay the taxes for that.

2. Any non-resident Indian can buy immovable properties in India provided it is not any agricultural land or a farm house.

3. If any NRI is buying flats for sale in India worth more than 50 lakh, he would have to pay 1% income tax to the Income Tax Department of India.

4. If NRI takes a home loan to buy the said property, the interest on the loan is deducted from the total taxable income of NRI. If he intends to use the property for himself, the maximum amount that can be deducted is 1.5 lakh. If he is using the property for renting purposes, there is no upper limit on the deduction, it happens to be the total interest on the loan.

5. If the NRI is renting the property bought, 30% of the rent is allowed for the repairs and maintenance of the property. The house tax payment is also allowed as the deduction.

6. When it comes to selling the property which has been owned by the NRI for less than 3 years, the profit is called the short-term capital gain. This gain being equal to the selling price minus purchase price. A 30% tax is imposed on this amount without the adjustments for the property price rises.

7. If the property has been in the possession of the NRI for more than three years, the capital gain tax is imposed on the profit after the property appraisal adjustments. This amount being the selling price minus current price of the property. Moreover, the taxes imposed on the property is 20% in this case. That clearly indicates that if any NRI buys a property in India, he should at least be willing to keep it for 3 years to get a good return on the investment.

8. If the income of the NRI in India from all the sources is more than 2.5 lakh, he is entitled to pay the income tax. The income tax return need not be filed if the total income comprises of only the sale of the properties whether short-term or long-term capital gains.

So, this is all an NRI wants to know about the taxes before dealing with any real estate business in India. The Indian economy provides a great margin of profit on the property transactions. It is extremely beneficial for anybody to invest in India, so in exchange, all India needs is to maximise the return on the foreign investment.

Original Source : http://www.ownaroof.com/blog/nris-buy-sell-properties-india/

क्या आप कर रहें हैं घर ख़रीदते वक़्त ये गलतियां?

घर खरीदते समय आपके दिल और दिमाग में बहुत कुछ चल रहा होता है। ख़ुशी उत्तेजना, फिर थकान और अंत में भय में बदल जाती हैं। एक कशमकश के वो घर आपको मिलेगा या नहीं, और मिला तो क्या आप उसको ख़रीदने में सक्षम होंगे? एक वित्तीय प्रक्रिया देखते ही देखते भावनात्मक बन जाती है। ये भावनाएँ अक्सर आपको सही निर्णय नहीं लेने देती। या तो आप अपने सपनों का घर खो बैठते है या फिर आप उस घर में निवेश कर देते है जो कभी आपके सपनों में था ही नहीं।
तो चलिए, जानते है वो ५ ग़लतियाँ जो घर ख़रीदने वाले अक्सर कर बैठते हैं। अगर आप भी ये कर रहे हैं तो सावधान हो जाएँ।

१. कुछ बेहतर मिलेगा

ऑनलाइन ख़रीददारी के इस चलन में अक्सर हमे लगता है कि अगला प्रस्ताव बेहतर होगा। हमे इंतज़ार करने की आदत सी हो गयी है। कभी कभी सच में एक बेहतरीन ऑफर मिल जाता है और कभी कभी ये बाजी उलटी भी पड़ जाती है। क्या घर ख़रीदने के मामले में आप संयोग पे भरोसा करेंगे? आज जो घर आपने देखा है, वो कल भी किसी ने देखा था, अगर आप ये कल ख़रीदने वाले है, तो क्या पता वो आज ही ये घर ख़रीद ले? अगर आपको उस घर में अपना भविष्य दिख रहा है तो समझदारी इसी में है कि आप उसे वक़्त रहते ख़रीद ले। कल किसने देखा?

२. अनावश्यक लगाव

आपने उसे देखा और पहली नजर में प्यार हो गया। ये कोई फिल्म की कहानी नहीं है बल्कि वास्तविकता है। कई लोगो को पहली नज़र में घर से लगाव हो जाता है। उन्हें लगता है कि यही वो घर है जिसकी उन्हें तलाश थी और वो दूसरा घर भी नहीं देखते है। ये सही नहीं है। एक परफेक्ट घर ख़रीदने के लिए कम से कम आपको ५ घरो का भ्रमण करना चाहिए। तभी आप ये निश्चित कर सकते है कि सबसे उपयुक्त कौन सा है। जल्दबाजी में किया गया फैसला अक्सर सही सिद्ध नहीं होता है। घर को बारीकी से देखे और तय करे हाँ या ना।

३. उत्तमता की अभिलाषा

सभी को अपना घर सर्वोत्तम लगता है। वो कुछ कमियाँ भी मामूली सी लगती है जब हम अपने घर में आराम से सोफे पर पसरे होते है। परंतु कुछ लोग ऐसे भी होते हैं जो घर को बेहतरीन बनाने के लिए बजट से ज्यादा ख़र्च कर बैठते है। ऐसे में जब वास्तविकता का एहसास होता है तो बैंक बैलेंस ख़तम सा होता दिखता है। सबसे अच्छा की चाह में चादर से ज्यादा पैर ना निकालें। ये जाने कि आपका कितना सामर्थ्य है। घर ख़रीदने में अपना सब कुछ ना लगा दे कि उसमे रहना असाध्य हो जाए।

४. अनुचित तुलना

हो सकता है एक महँगे घर में बहुत सी सुविधाएँ हो, उसकी तुलना करते हुए बढ़ना सही नही है। घर में जितनी ज्यादा सम्पन्नताएँ होंगी, उसकी कीमत भी उतनी ही ज्यादा होगी। अपना मस्तिष्क एक सही जगह केंद्रित करे। अपनी आकांशाए यथार्थवादी रखे। अगर आपके मित्र के घर में बड़ी रसोई है तो जरूरी नहीं वैसा कुछ आपके बजट में भी मिल सके। सर्वप्रथम ये जाने कि आप क्या उम्मीदें रख सकते है अपने नए घर से। इंटरनेट से आपको इस विषय में बहुत कुछ सीखने को मिल सकता है, और आप ऑनलाइन प्रॉपर्टी खोज भी सकते है।

५. अदूरदर्शिता

‘आज में जीना’ ये शब्द सुनने में जितने प्रभावशाली लगते है, वास्तव में व्यावहारिक नहीं होते। घर ख़रीदते समय आपको भविष्य कि सोचना जरूरी है। अगर आप एक घर में कम से कम पाँच साल रहने की नहीं सोच रहें है तो बेहतर है कि आप घर ख़रीदे ही ना। घर के आस पास के वातावरण का भी ख़याल रखे; पड़ोस बदलेगा, नए घर बनेंगे, नए लोग आएँगे, क्षेत्र का विकास होगा। देखे कि क्या आप बदलते नज़ारे के साथ उस घर में सामंजस्य बैठा पाएंगे?

उस तनाव और उत्तेजना से बचने के लिए अपने आप को तैयार कर लें। थोड़ा सा साहस और थोड़ी सी समझदारी आपको पछतावे से बचा सकते है। घर ख़रीदना मुश्किल काम ही है, ये आसान नहीँ होने वाला है, पर कम से कम आपको अपने सपनों का घर तो मिल सकेगा। वो कहतें है ना; अंत भला तो सब भला।
घर ख़रीदने हेतु और किसी भी जानकारी के लिए हमसे संपर्क करे। हम आपकी सहायता के लिए हमेशा तैयार हैं।

Original Source : http://www.ownaroof.com/blog/mistakes-of-buying-a-home/

4 Reasons Your House Isn’t Selling

Your house has been on the market for too long, and you are not getting the buyers.
This is a horror story and be prepared to read the truth; you will not get the buyers now. If a house is on sale for a long time, the buyers start getting suspicious that there should be something wrong with the house. They do not consider buying such houses even when it is available at affordable prices.

This can be your story, but you are not alone. Many sellers who do not hire a real estate agent suffer from this issue. When you identify the underlying problem, you can find out the solution. We are mentioning some of the reasons here which you need to find a remedy ASAP. Let us see what they are.

1. The house does not look good

Looks matter. Most of the people who fall in love with the house at the first sight, end up buying it. If you want to sell the house, invest in some renovations especially the lawn, bathroom and kitchen. Do not overspend on these things because the buyer would like to make arrangements according to his taste. You just have to make sure that the house appears beautiful without dust, stains, and cobwebs. Read more about the things that the modern buyers seek in the luxurious homes.

2. The pictures are not selling the house
No one likes to visit every house they see on the listings. It is possible for the buyers to see the pictures of houses on sale on the internet and then visiting a few shortlisted. This method is becoming extremely popular nowadays. Even when you are not listing your house online, you are hiring a broker who shows the pictures to the clients. These pictures decide whether your house would be sold or not.

It is crucial that you take many pictures of the house from different angles. Features all good spaces of your house. People like to see the pictures of the exterior, kitchen, master bedroom, living room, etc. You can also hire a professional photographer for this purpose. You can add some tags to the photographs to help the prospects understand the area better.

3. The house is not marketed well

What’s seen is sold. In this world of competition, you cannot expect a buyer to come to you just because they need it and you have it. You have to reach out to them. Just like the brands market their products, you need to advertise and sell your house. Discuss it with your friends and colleagues. Post pictures on the social media. You can make videos about your experience in the house. You can also make quality videos of the virtual tour of the house.

Organise the open houses and describe each corner of the house to the visitors. Hand out the flyers and the business cards to these visitors and give them a great experience to make the affirmative decision.

4. The selling price is not realistic
You are selling your ‘home’, and it must be difficult for you. You also want the best deal, and so, you set the price of the house high. Some people think that by setting the price high, they are giving the margin to the negotiations. This trick backfires badly sometimes. The buyers do not react positively to the high priced houses. Research the market and find out the right price according to the standards. To prove the worth of your house, highlight the neighbourhood, amenities, accessibility of the transport, schools, hospitals, etc. Do not set the price because your friend is selling his house at that price. Know the worth of your property and avoid the worst mistake of selling the house.

You can list your property for sale online, just put yourselves in the place of the buyer. Think what he may be browsing. If you would not buy your house in the present condition and at mentioned price, why would anyone else?

If you have first-hand experience of selling a house, please comment below. You can also put any queries in the comments section below.

Original Source : http://www.ownaroof.com/blog/4-reasons-house-isnt-selling/

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/