Monthly Archives: January 2017

What are the top 5 hidden costs one should consider before buying a house?

Welcome to our blogging space! It’s been a while the new year has set in and as a home buyer, you must be in an exciting phase to book a dream home of your own. Right? But, prior to proceeding with the tedious process of  documentation and booking, what’s more significant is taking care of the mounting costs.

Are you really aware whilst you’re ready to take over in your new abode, what are disparate expenses you need to incur? Fret not, here we’ve compiled the top 5 lists of hidden costs associated with the home buying process.

Stamp duty and registration of title:

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Stamp duty is just like sales tax and represents a legal evidence of property investment. As per the Section 3 of The Bombay Stamp Act, 1958, the transactions made for the stamp duty is recorded by the government of India. The cost of stamp duty varies from state to state.
When a home or a property is registered in your name, registration fee is imposed. The amount of registration fees is more than the fees of stamp duty. Most of the times, it is 1% of the market value.

Maintenance Deposit:

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The cost of maintenance varies depending on the type of home you have chosen. Maintenance deposit is in a way saving for the home buying process. It is usually deposited for the purpose of maintaining common amenities, lobbies, landscaping, pools and elevators.

Brokerage fees:

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For buying a home, if you’ve consulted Realtor or a property agent then you will have to incur around 1-2% of the property cost. This is basically a service charge as agents serve as mediator between buyer and seller.

Service and VA tax:

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While stamp duty is somewhat similar to the tax, another hidden cost associated with the home buying  process is service and value added tax. This amount is basically directed towards government. The taxes are levied only for properties that are bracketed as under construction. In case of independent homes, villas and bungalows, service tax is exempted, as well as not applicable for homes with a carpet area of 60 sq ft. In case of service and VAT, the money is usually paid by the builder, although it is often recovered from the buyers.

Expenditure on interiors:

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When you’re buying a home, the cost of interiors is unavoidable. Interiors mostly include furniture, painting, electrical fittings, plumbing, among others. Most of the times, the cost incurred on interiors can go up to lakhs.

 

Vaastu Tips to Consider while Buying House

Hello and welcome back to this blog space!

To begin with, Happy New Year to everyone. May your life be filled with peace, prosperity and success in this new year.

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Well, to talk about peace, prosperity and success, in our Asian traditions, we believe that our surroundings and its features have a lot to do in our life and well-being. And the science that evaluate these and make attempt to manifest these in our life is called Vaastu. In modern days, people are becoming more and more aware about this shastra and are accepting them with open arms to incorporate them into the lives.

Today, in this blog, I will discuss about some vaastu practices that while keeping in mind and considering while buying house, can make your life more fulfilling and happy. So, check out:

1. While considering a house to buy, always check out the plot over which it is built. Try and buy a house that is on regular plot like square and rectangle. The irregular plots tend to have missing direction that misguide the good energy flying to the house.

2. The house situated over a leveled plot or have steep in the south or west directions is auspicious. Also the house that have hills or a tall tower in these two directions are favorable as it increases the support system of life and success.

3. The house that has open land in the north or east directions make the atmosphere most favourable for business and opportunities.

4. Make sure that the main entrance of the house is not hindered in anyway, not even trees. This will prevent the good energies from getting into the house.

5. Coming to the internal structures, check out that the bedrooms are not built right above the kitchen and bathrooms are not built over the kitchen and dinning area. These are likely to bring illness to the house.

Saying so, an easy filter point can be, always prefer to buy a house from a person who is moving on to a big and more expensive house. That ensures that this house has acted in favor to the person and most likely to gain you benefits as well.

If you have any more tips in your kitty, share with us in the comment box below!

Catch you soon with another interesting topic.