No Room for these Mistakes while Hunting for Home

Purchasing a house is no child’s play and when it comes to buying your first home, it surely is a task. Being inexperienced, it is far from abnormal to commit mistakes. Because there’s an emotional string attached, we tend to think emotionally rather than taking rational decision. Yes, we know that making mistakes help us learn better but it is not like every day we go and buy house. So it is wise to avoid as many mistakes as we can.

Today we are going to tell you about these house-hunting mistakes only as told by Girish Navnath Avhad who is a well-known real estate agent.

·    Do not ever fall in love with the house you cannot afford. Yes, it may sound rude but it’s for your betterment only because once you have fallen in love with that house, it’s hard to go back. You begin dreaming about all the luxuries and comforts of that house. But it’s certainly of no use when you know it is out of your reach. You would only end up hurting yourself.

·     When it’s been a while looking for your suitable house and you still could not find one, it becomes very natural to become desperate. The feeling of getting into your new house grasp you and it is so over whelming, especially when you see you are getting outbid on the houses you want. Do not take decision in haste and settle down for anything you may later on regret.

·     Because of the reasons stated above, you might be tempted to ignore major problems with the house that will be difficult, impossible or expensive to alter in future. Consider your options carefully before making any commitment. Wait until something better comes along. New houses come in the market every day for sale.

·      In a hot market, it may be necessary to pull the trigger very quickly if you find a home you like. However, you have to balance the need to make a quick decision with the need to make sure the home will be right for you. Do not just rush to put in an offer. However, do not take too long in your endeavour of balancing either as losing out on property you were almost ready to purchase can be heart-breaking.

Shed your notion of dream home and make a rational choice by avoiding these mistakes.

Tax Benefits of Purchasing your First Home

Purchasing a home has its own share of advantages. You have full freedom to decorate it the way you want, you can setup a rocking home theatre or perfectly customize your wardrobe just the way you like. Apart from these benefits, buying your first home has some financial benefits too. It can reduce your tax outgo. The most favourable tax treatment that comes from owning a house is in the form of deductions. Girish Navnath Avhad, a well-known real estate agent, is telling about different deductions applicable to first time owners.

·         Deduction on interest – If you own one house which has been bought on a loan, you can claim deduction of up to maximum 2 lakh on the loan’s interest in every financial year. If your annual interest is lower than 2 lakh, your deduction is limited to your annual interest. You must be an owner of the property to claim this deduction and also a borrower in the loan. Having ownership in the property is a prerequisite to claiming all the tax benefits on the property.

·         Deduction on pre-construction interest – If you have taken a loan for a property which is under construction, deduction is available on interest which pertains to the financial years before the year in which the construction is completed. Sum up the entire pre-construction interest and claim it in five equal instalments. This deduction is included within the overall limit of 2 lakh that can be claimed by owner of one house that is vacant or used for residential purpose.

·         Deduction on principal repayments – In your EMI, a certain portion is paid towards interest and the remaining goes towards principal. Sum up the principal repayments from your loan repayment schedule for the year and claim that as a deduction under Section 80C. The maximum amount which can be claimed under section 80C is one lakh and fifty thousand and principal repayments are allowed within this ceiling.

·         Deduction on stamp duty and registration charges – Deduction is available on the stamp duty and registration charges as well that are paid on purchase of a property. This deduction is also covered within the overall limit of one lakh and fifty thousand. It can be claimed in the year in which these payments are actually made.

However, there are some other conditions too which must be met to claim these deductions. Making the most of these deductions can be a significant saving avenue for the common people.

Buying a Home? Look at these Useful Tips!

Purchasing a home is an intimidating task. It is that long-term investment which has to be made wisely post extensive research and intricate thought process. You have to ponder over umpteen number of things before spending your hard-earned money on your fundamental necessity of shelter. However, a home is not just a basic need but that place with which you can relate to. Feelings of comfort, convenience and closeness are indispensable at home. So, today one of the most prominent constructors, Girish Avhad is giving you few tips if it’s your first time that you are going to buy a house.

·         Decide that what kind of home is appropriate and most suitable according to your needs - a typical single family house, a multi-family building, a townhouse, a villa or a condominium. There is variety of options form which you need to choose from. Each option has its own set of pros and cons, depending on your ownership goals.

·         Next step is to determine that what specific features you need in your ideal home. A home is one of the biggest purchases of your life and you deserve to have both wants and your needs met by that purchase as much as possible. They can vary from size of your home to adjacent neighbourhood to your modular kitchen with essential appliances.

·         The next significant factor is to know how much home loan you will be qualified for. Get an idea of amount of money a lender is willing to give you for first home purchase. Many factors are taken into consideration by lender like your monthly remuneration, other debts and duration of your current job.

·         Look for a real estate agent who helps you find a home and guides you through the entire process of house hunting. He helps you locate homes which are within your range and fulfil all your needs too. He also helps in negotiating the price of the house you’ve chosen in addition to getting you loan and completing all your paperwork.

So, now that you know what points to bear in mind before making that big purchase, what are you waiting for? Go on and purchase house of your dreams!

How to Practice Eco-Friendly Real Estate

Not being limited to environment, the electricity consumption has grown so high that people has actually started paying huge amount of money on the name of electricity bills. Therefore Girish avhad provide you some tips which can help you to bring down the denominator of power consumption and making eco-friendly estate.

It is to no surprise that we are highly inclined to all the conceivable diseases in the world. We are so fine with making everything unhealthy, that it has turned into a noteworthy issue which has been affecting our health adversely.

Also not being restricted to environment, the power utilization has developed so high that individuals have really begun paying immense measure of money as electricity bills. Therefore to implement and make changes Girish Avhad advises you to adhere to some measures for an eco-friendly house.

Administer a Power Audit

Generally we don’t comprehend the premise of an issue. However distinguishing the machines which are the most power consuming can offer you some assistance with reduction on power bill. When you know which is the one appliance that is consuming enormous electricity you would be able to take adequate care of your power consumption. In the event that you can’t see, then you can enlist an expert in light of the fact that we know it is difficult to really see where most electricity is being consumed.

Replace Incandescent Lighting

Incandescent bulbs are one of the most common and heavy consumers of electricity. Therefore if you are trying to make an eco-friendly house then you must replace these bulbs with compact fluorescent bulbs. Fluorescent bulbs help saving upto44% of energy. Surprisingly keeping tube lights neat and cleans also enhances the reduction of energy.

Incandescent bulbs are a standout amongst the most widely recognized and substantial consumers of power. In this way if you are attempting to make an eco-friendly house then you should remove these bulbs and replace them with compact fluorescent bulbs. Fluorescent bulbs help sparing up to 44% of vitality. Surprisingly keeping tube lights neat and clean additionally upgrades its consumption.

Change the Cooking Appliances

Coking appliances are extremely massive consumers of power. Therefore switch to the ones which consume less energy. Also try replacing old appliances with new appliances as old appliances consume more energy. It is advised to use a microwave instead of an oven; comparatively a microwave consumes up to 40% less energy than that of an oven.

These are some effective measures which can help you make your house become eco-friendly. Furnish it in such a way that it consumes as less power as possible. Using less power will not only enhance your living standards but will also magnify your health.

Coking appliances consume immense electricity. In this way change to the ones which expend less energy. Additionally take a stab at replacing old apparatuses with new machines as old machines consume more energy. It has been stated that utilization of microwave is relatively better than an oven; as a microwave consumes up to 40% less energy than that of an oven.

These are some compelling measures which can offer you some assistance with making your home get to be eco-friendly. Therefore using apt furniture and appliances can definitely help you save electricity.

Girish Avhad is all set to introduce the very required and wanted technique of making eco-friendly house. Not only for less bill but keeping sustainable development in mind. Saving now will let our upcoming generation live. So make sure you implement the required changes as soon as possible.