What is the right age to buy a home? This Will Help You Decide!

What is the right age to buy a home? This Will Help You Decide!

The ideal way to buy a home is through applying for a home loan. As this approach totally relies on the age of the individual and the perfect age to purchase a house is as yet questionable. Let’s find the right age to own a property as well as for investments. What are the things that hold you off from owning a property? After gold, real estate is believed to make the best investment choice for Indians. Owning a property has become the ideal goal for most career starters newly married couples and people who are a few steps back from retirement. Be that as it may, what exactly is keeping these individuals away from owning their dream home? How do banks and lenders view these investors’ age to approve their loans? How does age become an important category to consider approving their home loans? In the meantime, can someone be too old which makes it fairly impossible to invest their money on the property and have probably missed doubling their wealth? Having said the banks are willing to offer home loans for long payment tenure, the thought of lending loans for those about-to-retire people sounds sensible? Let’s narrow down these facts and discuss further on finding the conundrum What is the eligibility for applying home loans based on age? The eligibility based on age spares all the career starters as they would fall under 25 and might just be started to earn a feasible income. They’ve got plenty of time ahead of them while building their portfolio ready for investing in a brand new home. However, even these people hit 40, they are not too old for being successful in owning a property. Regardless they have good 20 years left making work-life viable enough to still investing in property. Moreover, the sooner you invest, the higher the gains would be as the value of the property becomes higher over time. By and large, to finance your property, the right age to avail a home loan is between 25 and 30. Example: Mr Reghuwaran was 27 years old when he applied a home loan to buy a brand new 4 BHK unit in luxury villas in OMR. He was earning a fairly feasible income at the time he applied for the loan. The tenure spared him more than 20 years to repay the EMIs on time. At the age between
Never allow these basic factors affect your home loan eligibility

Never allow these basic factors affect your home loan eligibility

A home loan is a crucial key for all buyers to buy their dream homes. The home loan makes it financially secure for the buyers to own a home. When you apply for a home loan, the lenders and banks consider so many factors. They see if you are financially fit enough to handle a long-term commitment when it comes to a home loan approval. Besides, here are some of the essential factors which the banks consider to approve your home loan application. Age Age is the first of all fundamental factors any lender or bankers consider for a home loan application. The younger you are, more likely to get approved for a home loan. This means you get a lot of time to repay the debt in the future. Clearly, the tenure for the payments of your home loan would be extended if you are as far away from the retirement period. In simple, young professionals ranging from the 20s to 30s can avail a home loan for a long-term tenure without any fear. If you apply for a home loan at the age of 45 or 50, the EMI tenure for you would become less and the payment amount will be higher. Therefore, age plays a vital role in deciding the tenure of the loan and it directly correlates with the eligibility amount as well. For example, when Mr. Raju applied a home loan to buy a flat in OMR Chennai, his monthly income was Rs. 40, 000 at the time. The loan eligibility for a 20-year tenure based on the ROI of 10% would be 18, 00,000 approximately. He was having only 15 years left for retirement. So his loan tenure came down to 12 to 15 years based on the same ROI and income. And now, his eligibility turned out to be 14, 60,000 for a time period of 12 years. Hence, the younger you are, eligibility for huge loan amount is more. Income & Profession Individual: Salaried individuals who work under government department or any registered private company fall under this group. At times, banks insist on wanting applicants to complete one year in the firm they are currently working at the time of application. Independent Professionals: Professionals like doctors, dentists, architects, management consultants, chartered accountants, freelance workers, and engineers belong to this division. For this category, bank statements and ITR (Income Tax Returns) papers should be
Gardening Tips: How to attract people with a beautiful backyard

Gardening Tips: How to attract people with a beautiful backyard

Most of the people who live in homes like luxury villas and rooftop Penthouse Apartments always have the idea and will to maintain a beautiful garden or an attractive backyard. Keeping up your garden to an elevated requirement so it assembles respecting looks from all quarters are high on the rundown of genuine planters. Investigate these cultivating hacks to influence your neighbors to green with envy at your planting ability. Know your garden, the dirt, and the atmosphere Desert flora get by in bone-dry pastries for a reason, which is the reason having them in a garden in a wet and breezy corner of the city won’t see prickly plants flourish. Knowing your fix of soil, regardless of whether it is acidic or antacid and how you can change this, and also benefitting as much as possible from the atmosphere will help in choosing the best plants to purchase and plant, and additionally the best spaces in your garden for these plants to prosper. Camellias, for instance, inclined toward a north-bound divider in a yard and a corrosive soil, so there is no point planting them in water-logged, antacid soil with consistent frosty drafts disturbing their delicate stems. Water Water isn’t a feasible asset – signal storms that last say, with flooding and repulsiveness stories, but then we are told it isn’t sufficient for the wet stuff. Yet, one of the key components that transform hanging pansies into an extravagant mass of shading is water. While your neighbor’s garden and fringes turn out to be always dry amid a dry season, you can bear on watering your delicious sprouts since you have water butts getting precipitation from all your down funnels. Remove annoying weeds when they set out pop their heads over the dirt They are an annoyance. They are all over. One moment, they are a small head, simply flying over the dirt surface and the following, it is running uncontrolled crosswise over blossom beds, and anyplace where they can get a sufficient solid footing with their shallow roots. Weeds are not a plant specialist’s companion. Be that as it may, this is the uplifting news: it takes just a couple of minutes to whip these troublesome gets rid of your dirt before they inspire opportunity to wind up noticeably settled, as well as a swing to seed and spread them over your whole garden. Some frills We are
How is the Turnover Evaluated for Self-Employed Home Loan Applicants?

How is the Turnover Evaluated for Self-Employed Home Loan Applicants?

We all know how hard it is for a self-employed individual to apply for a home loan and get it sanctioned. Lenders in the market are sceptical about these set of people as they don’t bring in a stable income. Still, if the applicant had filed the taxes, kept a decent credit score, maintained the books & documents in order and repaid existing loans on time, then he/she has very good chances of getting the loan sanctioned. If the applicant meets all these requirements mentioned, they can determine the eligible loan amount with the gross annual turnover. The lenders in the industry have pre-determined margin levels for different loan applicants who fall under the self-employed category. This margin is utilized as the multiplier factor to the turnover, to find out the eligible level of income. I researched and learnt a lot about this turnover calculation when I wanted to buy one of the apartments for sale in Pallavaram Thoraipakkam Road with a housing loan. And here are some basic and essential excerpts from that learning: Factors considered for eligibility calculation: Income from one or several businesses is considered while evaluating the eligibility criteria. All these businesses should be registered and at least the previous two years tax returns should be available during the time of application. Other sources of income like rental revenue and interests from savings can also be provided to better the chances of getting the loan sanctioned. Owning enterprises, holding other properties and being partners in other business ventures can also be added to enhance the eligibility. Non-cash involving expenses are considered while evaluating the net income derived from the businesses. What exactly is the turnover method? Turnover determines how fast a specific business sells and clears the inventory or how fast it receives income from accounts receivables. The 3 main fiscal points of reference for determining the turnover are: Growth, that happens in the turnover process. Profit in cash derived after reducing all the expenses. Tangible net worth considered after deducting the liabilities from the total net worth along with other intangible assets. Inspection process during the evaluation of the turnover: For the inspection of businesses, collaterals and other assets, the lenders make a compulsory visit to the properties and the factories. The lender has the right to visit these properties even after the housing loan is sanctioned or disbursed. Statement of the banks for at
Inventive Ways to Employ the Empty Balcony Space

Inventive Ways to Employ the Empty Balcony Space

With a massive increase in the number of residential housing projects in the majority of the metros, the need to accommodate every housing need of individuals has been gradually decreasing. There is an option for every individual in every price range that has made housing plans feasible for almost every income group. The next step after acquiring or even building the dream home would be to adorn it with most beautiful accessories and decors to make the unit come alive. Such decors can be either created with little creativity or handpicked from the stores. While doing so, a majority of people neglect the rarely used spaces due to its reduced importance in contributing to the look of the unit. But paying importance to such places or corners of the unit would really help to ramp up the aesthetic beauty of the unit. One such place would be the small balcony area that manages to be present in almost every household of apartments in Chennai. Read on to explore the ideas that can be imparted in decorating these tiny spaces. Potteries and statues Having these decors anywhere would definitely bring about pleasing and serene ambience. Make use this idea to brighten up the tiny balcony area to plant up some low-maintenance saplings. This setup would create the extended outside environment feel when you walk up to the balcony from the bedroom. Also, this would ensure a pleasant feel and the sight to wake up to these greenery plants would always feel good. Other than pots, complement this setup with rarely used statues to give the ancient feel. As a general suggestion, go for the unusual pot colours such as blue tones and even black ones to give a creative look. Dining setup This could be possible in case of spacious balcony areas. Especially, some of the 3 BHK apartments for sale in Chennai do offer a palatial area in the top floors which come along with a vivid view. Setting up a dining table for a couple romantic dinners could be one of the most exciting ideas to make this balcony area use it to the fullest. Opt for cozy seating that brings close the persons and light up this place with fairy lights to complete the candlelit setup. If not make use of the colourful lanterns that can, even more, add up to the beautiful setup. Indoors out This is
Innovative Home Decor ideas for your New Home

Innovative Home Decor ideas for your New Home

Let’s remember the importance of impartial hues in your home, as they give a quieting and amicable impact. While this is a gift in calm rooms, for example, your room, there are different rooms to which you should need to include sprinkles of shading and lively tones to influence the spaces to wake up, including touches that mirror your own inclinations and way of life. Here are a couple of tips on the methodologies you can take to do only that. Liven up your lounge room People who reside in a big size home like a luxury villa or a  Penthouse Apartment should always begin with the where the greater part of the family gets to know one another and where visitors are invited into your home: the front room. Here, you’ll need to utilize a couple of additional uncommon touches to make the space agreeable and in addition intriguing. Painted dividers and roof in a delicate shade and a wooden floor offer beautiful scenery for your furniture and embellishments. There’s no compelling reason to turn to luxuriously particular flower drapes, or couches upholstered in eye-popping examples to infuse a touch of vitality into your outline plot. Rather, choose exquisite window screens in a brilliant complete, to permit more natural daylight into your room. Keep your couch plain, at that point embellish it with energetic scramble pads that you can blend and match freely. Deck out your lounge area A few people like their eating territory to be genuinely uniform and formal, with coordinating sideboards and composed table and seats. Others favour a quirkier look, with befuddled seats or a one of a kind, up to a cycled table. Regardless of your inclination, you can breathe life into your lounge area by presenting sparkly ceiling fixtures, striking table runners, eccentric candles or straightforward bundles of splendidly hued blossoms. With regards to flatware, you have the chance to benefit as much as possible from dishes that improve the sustenance you’re serving, and shimmering crystal that will mirror the lighting. Dimmer switches are valuable in a feasting region when you need to make a smooth, more casual mindset. Keep your kitchen comfortable While lounge areas are suitable for more formal events, numerous families eat together in the kitchen, which is likewise the place kids now and again get their work done or hang out with companions. A neighbour who flies in for a
Home Styling: How to Do it Within Your Budget

Home Styling: How to Do it Within Your Budget

Having a splendid living space as your home is one of the finest things of life; it can bring an untold measure of solace and delight for an individual. For a large number of us, inside plan may appear like an unthinkable extravagance, yet it doesn’t need to be. It’s not necessary that you should own a Luxury Villa or a Premium type flat to make an elegant and luxurious presentation. With a little imagination, you can even make a small compact home an upscale and lovely space for yourself and your family. Here are a couple of thoughts to make a kickstart: Shading Coordinate Shading organizing only a couple of articles can unite a room in a split second. Pick a couple of items that need a refresh and put resources into a jar of splash paint in shading that influences you to grin. This procedure additionally works flawlessly for an accumulation of straightforward articles, for example, picture casings, vases, or light holders. Utilize Natural Elements This can be as basic as picking some flowers and arranging them in a vase or as entangled as you prefer. Squeezed blooms can be made to look present day in twofold glass edges, shells and driftwood can include a shoreline sort of feel to an uncovered room, and some sand and decision stones can make a Zen space anyplace in your home. Refresh Your Lighting The quality, arrangement, and adornments for your lighting have a colossal effect in the air of your home. While delightful lights may accompany a gigantic spending plan, great rebates can be discovered on the web. Do It Yourself In the course of recent years, the web has turned into a goldmine of Do It Yourself instructional exercises. In this way, investigate what you could use in your space. Do you have a seat that could be reupholstered, access to wooden beds, or an old dresser you are not utilizing any longer? You can discover innumerable undertakings for next to zero cost that will add style to your home and perhaps show your ability! Counterfeit a Headboard This tip may be the simplest and best on the rundown. With a little pot of paint and stencils, you can a bedding on the floor resemble a bed fit for eminence in a style and shading that fits your sensibilities! Utilize your Jars Jugs are an awesome authoritative instrument and
Pros and Cons of High rise and Low rise apartments

Pros and Cons of High rise and Low rise apartments

Deciding between high rise and low rise apartments is one of the biggest discussion for any homebuyer. While choosing between these skyscrapers high rise and low rise apartments, consider the following things listed below. This might help you set a vivid view of both the elements. Apartment’s location: Location is the foremost thing every home buyer to consider while purchasing a property. Low-rise apartments are generally developed in residential locations. So the connectivity from the location is easily accessible to the neighboring areas. In Chennai, the high-rise apartments are mostly found in the areas like OMR, Porur, and ECR. These are the well-developed industrial areas with top-notch companies. This makes young professionals easy to find high-rise apartments closer to their workplaces. While the low-rise apartments in OMR are only discovered in a few residential localities which serves the best amenities in gated communities. Buy the view, not the fame The biggest difference between the high rise and low rise apartments is the high-rise can gift you with a better view. Since they are multi-storey, these apartments are more accessible to light and airflow. In these cases, cross-ventilation works advantageously than low-rise apartments. Meanwhile, low-rise apartments are not so ventilation-friendly and less accessible to lighting as well. Sometimes these low-rise apartments can be a great advantage. For example, you can find more open space to let in light with good aeration in a gated community location. This is why most of the low-rise Apartments in OMR, ECR, and Porur are gaining popularity and the builders are focusing more on open space. The features and amenities are a part of the lifestyle Comparatively, high-rise bags the advantage of having classy premium amenities. The amenities found in the high-rise apartments are always more. Because of the fact that, it is a part of a larger gated community. A premium clubhouse, swimming pools, gym, stores, cafe, ATM, laundry services and so on. But you cannot expect the same features from a low-rise apartment community. However, this might be an advantage if the low-rise is a part of a larger community with other residential property. I found some flats in OMR where it is a part of a big gated community with premium villas. In this case, you could find all the amenities similar to a high-rise. The life in the community In high-rise apartments, social interactions are more. Most these Luxury apartments in Chennai have more residents, thus

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