Monthly Archives: April 2017

Why you should think about investing in a second home?

1Investing in a second home is everyone’s dream, but very few manage to buy one. Though, the sentiment of owning a second home has persisted for ages, however, it is slowly becoming a trend  among elite investors and middle class. Several potential home buyers are putting money into vacation homes to finance long term needs and converting it into primary homes for the golden years.

The demand for buying second homes in India is growing among NRIs, making it a profitable market segment among developers. In 2015 alone, more than 2 million vacation properties were purchased as indicated in a research report conducted by the National Association of Realtors.

Alternate income earnings:

Once you buy a second home in Navi Mumbai or Mumbai, you are bound to get advantage of gaining extra income in the form of home stays or short term rents. The first thing you need to make sure is the location you have chosen is a relaxing place – lush green surrounding featuring world-class amenities– which calms down the stress of the visitors. Additionally, you need to place emphasis on how the location rental price will help you earn more.

For your retirement years:

If you do not wish to give the home for rental purpose, then it is a perfect abode for you to spend your retirement years peacefully in your second home. The rent received from the home will secure your future financially in the later years. Many people buy a second home for the sole of making it into primary homes after retirement.

Tax efficiency:

The rent received from the second home can be used for paying interest of the home loan you have taken for the flat you’re staying in.

If you are living in a home for which you have taken a home loan, a tax deduction up to
Rs. 1,50,000 is applicable under the section 80C of income tax act. In case you have invested in a second property, which is under construction then get a deduction on 20% of total interest paid. The concession on interest rate is applicable for a period of five years.

While investing in a second home in Navi Mumbai or Mumbai, make sure you have enough capital in place for managing expenses as well. Think well before making an investment decision.

5 Simple and effective home security tips for new home owners

Moved into a new home? When you buy a new house, you being busy in decorating your new home, similarly, it is significant to equip it with necessary security equipments. You would be surprised to know that 33% of burglars enter through front doors and nearly 73% of these incidents occur in residential properties. Although, the security at residential properties is completely ensured by security guards, then too it is vital that you take preventive measures. Whether you’re a new home owner or already own a home, here are some security tips you should keep in mind.
Home Security
Proper locking system:

When you have moved to a new home, ensure that you have installed a good locking system for doors and windows. Unless you are using a deadbolt for the door, burglars have an easy chance to open your in seconds using cheap tools. This is because when you’re using a deadbolt, you cannot move it in an open position without the use of a key, which in turn helps to move lock cylinder.

Safety doors:

To meet high security requirements, you need to install a safety door that is solid and kick-proof. Wooden doors are the best, while you can also opt for other materials like metal or steel doors. It offers an added protections, plus you can also use a variety of colors to enhance its appeal.

Install a peephole:

In a peephole in the front door is the best option, if your home doesn’t have a window that allows you to see who is knocking on the other side. A peephole should be drilled at an adult’s viewing height, so that even the shortest member of your family will be able to see.

Stop hiding Keys:

Many of home owners have the habit of hiding keys in the mailbox or under doormats. Did you know thousands of families have reported of burglary in their home and the reason for this is hiding of house keys under the mat. You may think that hiding spare key is a good idea, but in this like openly inviting thieves to enter your house.

Be friendly with neighbors:

If there are any signs of suspicious activity, your neighbors can inform you about it. Get to know your neighbors so that you are rest assured that any theft is prevented. In the next moment, you can return the favor.

Theme Based Housing: The new trend in Indian real estate domain

theme based house

Theme-based residential projects have been gaining momentum as the taste of consumers has shifted to architectural design, while the other factors like health clubs, spacious living, enviable location have taken a backseat.

The fact is that most of the home buyers, who seem to be interested in theme based housing mostly comprise of HNIs and NRIs. The architectural themes that have been popular are Egyptian, Arabic, Spanish, Mediterranean, Roman and Moroccan. The European renaissance design is becoming more of a trend for this type of properties in the Indian real estate domain.

There are several reasons why the aspirational crowd is looking for theme based properties. These properties boast charismatic ancient era, contemporary designs and latest facilities. Well-known developers and real estate companies are increasingly catering to the demands of the high income home buyers. Theme-based projects can be witnessed not only in Mumbai, it is also now a trend among across various cities and states in India.

According to some real estate analysts, a project is said to get sold more if it has an attractive pricing and an exceptional design concept that perfectly blends with a particular theme. It is good to remember that home buyers today are well-informed and educated due to the kind of exposure to instant information they have through various sources.

In fact, some real estate companies have roped in expert architects from abroad to bring the feel of an exact theme based concept. This trend is not just limited to real estate domain as the state governments are also picking up this new-age style. The latest development is coming up in Haryana as the government plans to construct 13 theme-based cities along the 136-km-long Kundli-Manesar-Palwal expressway.

If you’re planning to invest in theme-based projects like these, here some of the things you should keep in mind before taking the plunge:

  • When investing, think about basic necessities like proximity to workplace, health care and education institutes.
  • These properties consume a lot of time as they are developed in phases.
  • There may be chances of a particular project getting delayed in the long run.
  • Make sure you are well-informed about the developer’s past projects.
  • Appreciation from the theme based project is guaranteed, but you will have to hold on to the property for earning capital.