Benefits of Buying Home

Though owning a home is everyone’s dream, buying your own home is a huge financial responsibility for everyone involving a lot of pressure and doubts. However, if one educates oneself before buying a house and takes help of professionals, buying a home can prove to be a very beneficial action.

So even if you have some doubts, Girish Navnath Avhad hereby presents you with a list of benefits of buying your own home that will clear all your doubts in a second.

• Buying your own home can provide you with the greatest financial security. Instead of paying off your rent every month and not getting anything out of it at the end of day, you can actually own a home with that money. A great sense of independence can be achieved with your own house.
• Monthly input of money in housing is stable unlike renting. For your monthly payments are of fixed amount unlike your rent, which increases with the time and change of place.
• Buying your own home is a solid financial investment for it provides steady returns which are unaffected by erratic movements in the stock market. Therefore, by investing your money in a house instead of stock market, you can ensure safe and steady returns on your investment.
• Buying your own home enables you to generate more savings for the value of real estate increases rapidly and constantly for the growth of your value’s property exceeds your ability to save. The percentage of increment in a savings bank accounts is definitely lesser than the increment of your property’s value.
• Buying your own home is also beneficial in terms of building equity. Equity is the amount of which you can sell your house for minus the amount you still owe to it. Your monthly payments or EMIs deducts the amount of what you owe which consequently raises your equity.
• Buying your own home is a great long term investment for your house can make up for a good rental property in future. In this way, you can your house as source of second or first income during old age.

Girish Avhad is a well-known real estate agent and self-made entrepreneur who with his hard work and dedication became the most renowned businessmen in India.

know-how of house purchasing

The process of buying a new home can be overwhelming for most people as purchasing a home is probably the biggest financial decision of anyone’s life. However educating yourself about the essential know-how of house purchasing and the consultation of professionals can lower the risk rate involved in the purchasing of house.

With the experience of decades, Girish Avhad hereby presents you with 10 steps to buying a house:

1. Find Out the Benefits of Investing in a House 

You should try to find out the benefits of investing in a house if you are a first time buyer or already owns a house. Buying property is usually a good investment option than saving it in a bank account. However, if you are already running low on money, then buying a house might not be in your best interest. 

2. Review Your Financial Health

Investing in a property, demands a large sum of money whether you pay for it all at once or in installments. Determine how much price you can pay. Look at your income, amount of savings and how much is left over in your savings and investment accounts that could go toward a down payment.

3. Decide a Budget

After you have thoroughly reviewed your financial health, you can now make an informed decision about your budget. Setting a budget beforehand can help you to check yourself later from wasting your time.

4. Find the Right Real Estate Agent for You

A good real estate agent can provide you with helpful information about the available houses, current price in market and what constitutes a good deal.

5. Decide on a Vicinity
   

Deciding the vicinity where you want to buy a house is one of the major decisive factors in the selection of a house. Try to find out about the areas you are interested in. find out the distance of those areas to your office, and the time and money that would go in commuting.

6. Start Visiting Houses

Once you have decided one or more areas, start visiting available houses. When you visit houses make note of their price, check out the little details and evaluate the neighborhoods.

7. Decide on a House

Decide the house you are interested in considering the notes you made while visiting them. You can revisit one or more shortlisted houses to reconsider your choice.

8. Get a Home Inspection

Your real estate agent can arrange for an inspection after you decide a house and your offer is accepted by the seller. The inspection gives you a chance to renegotiate or withdraw your offer without penalty if the inspection reveals real damage.

You can ask the seller to fix the house and later check if the agreed upon repairs have been made satisfactorily or not before closing the sale.

9. Choose Your Loan

If you are planning to buy a house on loan, you can consult various bakers about the best loan program that would suit you based on your income and savings.

10. Complete the Paperwork

The last step in buying a house involves majorly paperwork. It is generally taken care of by real estate agents. Once you have established the terms and signed all the papers, you can happily move into your new home.

Girish Navnath Avhad is a Pune based self-made entrepreneur who with his remarkable skills in management and business has created a niche for itself in the business landscape in India.

How to Build a House

Building a house demands dedication, remarkable skills and familiarity with the whole process irrespective of who you are making it for, yourself or some client. So if you are planning to build a house or wondering how your house was built, here is a list you can go through:

1. Finding a location

The first step is to find a perfect location for your house. There are certain things to consider when you are choosing a location:

• Ground Stability: Check if the landscape of that location has good ground stability for the houses built on shifting sand, mucky soil or on unstable grounds can fall as such lands do not prove supporting for making solid foundations.
• Availability of Utilities: To live in a place, you need utilities like water and electricity. So before you make your decision, check if these utilities are being provided in that area or not.
• Connectivity: Connectivity to other nearby areas and cities through roadways, railroads is an important factor in case you are looking for a place outside city.
• Community Infrastructure: Make sure that the area has community infrastructure like hospitals and schools.

2. Design your house

After you have decided a location and bought it, the next step is to design your house. Consult a professional architect who has experience in designing the kind of house you want to build. Professional architects and engineers can provide you with great insights on how to efficiently make your house within your budget.

While designing the plan for your house, it is necessary to consider a few things:

• How many rooms you want.
• Where you can place windows to maximize ventilation.
• Where and how you can construct utility areas like kitchen, bathroom and garage so they can be easily wired.

3. Building and installing

Once you have prepared a blueprint of the house and got necessary permits for it, you can start the construction process which involves:

• Preparing the ground for foundation by excavating the land and pouring concrete on it to evenly distribute the weight.
• Installing floors and building walls and roof of the house.
• After that the work of building the interiors of the house is started.

Save your Bucks with these Construction Tips

Nobody wants to pay more than necessary and cutting on expenses seems always a great idea when you are building a house because construction is quite an expensive affair and it burns a big hole in the pocket. Only the experts know how to save money on construction. So Girish Avhad is giving you some tips that may help keep your building budget within reason without compromising on the home you want.

·      Consider a so-called problem lot — a hillside, narrow or in-fill property. Generally, these types of lots are not as desirable as others, so they don’t sell as quickly and often go for a much lower price. With the right plan and a capable contractor, however, a potentially difficult lot might be perfect for your new home.

·      Buy low-maintenance building materials — vinyl siding and metal roofing, for example. Even if they are somewhat more expensive at installation, they will pay for themselves in the long run as you won’t have to repair, replace or repaint.

·      Collect salvaged materials from demolition sites. Old barn wood, used bricks and distinctive wood doors add inexpensive character to a home without exorbitant cost. Many times you can have the materials at no cost, as long as you’re willing to haul them away. Just be sure to check first with the owner of the building being demolished.

·      Splurge only on those things you truly cannot live without. However, don’t skimp on structural components or doors and windows — for the safety and security of your home, you’ll want to purchase the best you can afford in these areas.

·         Monitor construction allowances as the home is being built to ensure you’re getting what you asked for and are paying for. This includes decorative details as well as structural elements. If you and your builder agreed, for instance, that a particular brand of insulation would be installed, don’t accept a lesser brand — at least not without a cost adjustment.

·       If you really want ceramic tile or hardwood flooring but feel you can’t afford it right now, consider vinyl flooring. Vinyl makes a good underlayment and the tile or wood can be installed right on top of it at a later date.

Girish Navnath Avhad is a renowned real estate agent and prominent constructor.

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!