Tuesday 19 April 2016

Being a Home-Owner

All set to dive into the category of homeowner? Ready for the big leap? Though it is a long-cherished desire for most individuals to be a house owner, finally buying one can also carry a long list of responsibilities which one may not be too aware of. However, you need not be scared if you make informed decisions. The below are a set of observations which Mrs.Veena compiled while buying an independent house forsale in Bhubaneswar.
Finances:
Am I ready with the finances? This is the first major question every home buyer must face with full attention. Only after a convincing ‘Yes’ one must go ahead. To gather a general band or range of expenditure which one is required to undertake one can seek information online or from family,friends or consultants. If you subscribe to a few sites also you tend to gather a lot of information.
Down Payment
Apart from assessing your loan eligibility one must examine if one is ready with liquid cash to bear the down payment. Usually, Indian banks bear 85% of the property value. In rare instances like young individuals with good salary, it may extend up to 90%.
Property Taxes
Once you are an owner of a house or property you are supposed to pay the property tax to the government.This is another cost usually people are unaware of.
Utilities and Maintenence
Owning a home may not help you do away with the utility bills. However in most of the apartments, the water bill is taken care of by the society but in the case of owning an independent bungalow or villa, there is no such reprieve. Other utility bills like gas, electricity etc have to be borne too.In fact, if you choose to have a gated community or an apartment there is a regular maintenance cost which is to be borne by the owners.Sometimes home owners may pass it onto the tenants but if you choose to reside in our property it is you who is required to bear the same.
 Repairs
While you are renting property ‘repairs’ is the house owners responsibility. Thus, when you shift from being a tenant to a being an owner you should be all set to bear this responsibility too.
Mr.Veena chose a duplex for sale in Bhubaneswar. Thanks to her research and her good friends she was quite well prepared for the new role of being a home owner.

Monday 21 March 2016

Pros of Small Cozy Duplex

When Srinivas shifted to Bhubaneswar he was quite clear about what he wanted in his life. Having served as a senior manager in a navratna company, he was quite well of, individually, as he hailed from a wealthy background. With a decent saving in his hand and having married for 2-3 years now, he planned to have an own house in the new place as he had researched and heard all about the capital city of the state of Odisha, which boasts of being a parcel of peace, culture and modernity.

Ready to Move Duplex in Bhubaneswar
Ready to Move Duplex in Bhubaneswar
He was quite meticulous and took quick decisions, thus while he froze the idea of buying a house, he also immediately determined that which kind or category would he go for, either a flat or an independent one. He ha finalized to go for a ready to move duplex in Bhubaneswar. This decision of his was mainly guided by the fact that he loved better or larger space and a lot of privacy. His minimum requirement was a 2400 sq. ft. built up area. Considering a small family of two that may be interpreted as quite huge.

In general, it is accepted that one should spend within one’s means but it doesn’t hold good when it comes to buying a house. Usually, people tend to go beyond what they can afford to at that point of time. Thereby taking a home loan or mortgage is not at all an alien concept. So was this case. He planned to take a 60% of property value as loan to buy this home for sale in Bhubaneswar. Due to his stable job and assured future income, it was an absolutely easy affair for him to get a home loan sanctioned.

House for Sale in Bhubaneswar‎
House for Sale in Bhubaneswar‎
However, as his house hunting expedition started he came across very artistically made small, cozy duplex house with great interiors already in place. He was tempted and was ready to compromise on the space part. That day when he returned back home he googled for advantages of small cozier houses. After going through a couple of articles he was convinced that he should go for the last duplex with a built up area of 1500 sq. ft. Easy maintenance, the closeness of relationships and better bonding were what made this preference more acceptable.

He came across a funny article which claimed that small room amounts to greater minds. To prove its point it quoted big names like Einstein, Mozart and a many more, being raised up in smaller houses. Though Srinivas couldn’t find much logic in this approach, yet looked forward to the idea that his new assets may fetch him some brilliance, then he would rather not mind being wrong in his logic this time around.