5 Common Real Estate Investing Mistakes You Should Avoid

1. Avoid checking the builder’s reputation

Choosing a reputed and trusted real estate developer ensures the credibility of your investment. A renowned real estate brand will procure all relevant legal permits and documents required for property sale. They also ensure that their projects are approved by RERA to ensure transparency in all transactions. Moreover, a well-experienced developer will always go that extra mile to satisfy their customers. If you are buying a home or an apartment from a reputed brand, you can be assured of good quality construction and excellent customer service. You can visit the company website, social media pages and project sites to get a complete picture of the developer. Alternatively, you can also seek feedback from previous customers or buyers to check the builder’s reputation.

2. Not choosing the right type of property

Once you have made a decision to invest in real estate, you should also decide which type of property you are going to invest in. You can either buy a residential property or invest in a commercial space. Most of the first-time investors tend to overlook this aspect because they may not have much idea about the real estate market. Choosing the wrong property can put your money at risk and result in dead investments. Consider buying properties in prime locations as they will always have great demand. Also, look for in-house amenities and civic facilities nearby the property. You can get good resale value and returns from such properties. Depending on your budget and purpose, shortlist a few properties and seek help from a trusted property advisor to find the right bet.

3. Not doing proper research

This is one of the most overlooked aspects of property investment. Prior to investment, you must first analyze the market conditions and conduct thorough research of the prevailing property rates in the desired location. Without proper knowledge and understanding of the market, chances are more that you may get deceived by brokers or fraudulent agents. Once you shortlist a few properties, you must check aspects like location benefits, land value, rental demand, road connectivity, nearby facilities, builder’s history, etc. Various aspects like lack of water supply, air pollution, poor transport facilities and civic amenities can affect your investment if they go unnoticed.

4. Not estimating your financial capability

Nothing is as important as evaluating your finances when entering a new investment deal. Apart from the major expenses like the cost of the property, taxes, and registration fee, there are many other hidden costs involved in property investment. If you are buying a house you have to consider maintenance costs, cost of furnishing and interiors, cost of repairs if any, utility charges, etc. Prepare a detailed document of the expenses and check whether you can afford it. If you are planning to take a home loan, then you must consult with a bank to know your eligibility. Having a good credit score will help you get a loan at lower interest rates and longer repayment tenure. A credit score of 700 or above is considered to be good and increases your credibility to get a loan.

5. Not seeking expert advice

Most investors don’t consider seeking professional help for real estate investments. They think that they can be successful investors even if they don’t talk to any industry experts. But this may put them in trouble later on for there can be many unknown issues associated with properties. Interacting with a reliable property advisor will not only save you from fraudulent offers but will also ensure that your property is free of legal issues. An experienced real estate agent can find you a good property at a fair price deal. Also, it is always ideal to consult a financial advisor to plan your expenses and prepare yourself for the investment.

Smart Tips – How to WFH Productively

COVID-19 has caused obvious changes to most aspects of everyday life including how we all work from home. While some offices have resumed with minimal staff and follow strict guidelines, a vast majority of organizations continue to work in the new normal.

 

The new normal has broken the constraints of an office cubicle and created a sense of freedom that previously did not exist. WFH opened up a door to an exciting new world that gives us a sense of comfort in the work we do.

DOs:

  • Plan ahead: Plan a break time and do not deviate. This will enable you to finish your tasks efficiently and consistently while having time for personal tasks. You shouldn’t feel mentally or physically exhausted by the end of the day.
  • Create a to-do list: Make a list of the work you need to complete for the day and try to accomplish it. This will help you stay focused.
  • Have a dedicated workspace: Have a dedicated workspace where you can work efficiently and comfortably. Working from a common area will shift your focus to everything insignificant.
  • Set timings: It is crucial to set regular work timings and stick to it in order to remain productive. Snoozing your morning alarm will throw your schedule out of the window.
  • Communicate: Constant communication with your boss/supervisor and co-workers will help make the process a smooth one. So, don’t hesitate to connect whenever you get time.
  • Stay organized: Use apps like Google docs to stay organized and on schedule. Maintain folders to avoid last-minute confusion. It is one skill that counts.
  • Backup plan: Faulty internet connection or power outage can hamper your work. So make sure you have a perfect backup plan in place to prevent your work from getting hindered.

Here are some things you need to avoid:

DON’Ts:

  • Don’t treat WFH as a vacation/holiday: Your boss is still monitoring your performance on the job while you are operating from home. Work with sincerity and adhere to the deadlines for deliverables. Do not consider it as a holiday or a time to relax.
  • Avoid personal work: Set your personal work aside during your work hours. Or else, it may lead to delays and slips in your deliverables at work.
  • Don’t let social media sidetrack you: It’s tempting to have tabs open from Twitter, Facebook and Instagram on your personal computer. However, social media can stretch your workday if you let it, ultimately affecting your work-life balance.
  • Don’t allow your e-mail to become a distraction: While it’s important to check your e-mail throughout the day, be sure to dedicate a specific time for it. E-mails should not become a source of distraction when you are with your family.
  • Don’t let your workday slip away: It s important to create an inflexible and strict routine which you can stick to. Make a schedule that allows you to be productive.
  • Avoid personal calls while working: It’s okay for you to break away for a few minutes in order to take a personal call or make one. But it is important to set a time limit for the same.
  • Don’t bother with dressing style: If your job doesn’t require you to conduct video calls or otherwise be seen by others, there is absolutely no point in changing from your pyjamas into work clothes every morning. Trust me, this can save you a lot of time.

Lower Interest Rates an Attractive Catalyst for Home Purchase Now

The Coronavirus pandemic and the lockdown it brought about has evidently created a hard time for the real estate companies. However, they now see a light of hope with falling interest rates on home loans. This would certainly act as a catalyst and attract more buyers. RBI has recently decreased repo rates by 40 BPS, taking the total fall in repo rates since lockdown begun up to 115 BPS. As a result, the rates are now as low as 4%.

As a result of the decline in repo rates, interest rates are falling. EMI has already gone down to 7.5% and is expected to fall further. These are great news for homebuyers as the properties are becoming more affordable for them.

Other than the affordability, a number of factors are pushing up the demand for properties. The pandemic and the high requirement for safety measures have brought about the need for having a home of one’s own. This would help the people maintain their own health and security and thus stay safe from COVID-19. As a result, residents living on rent are now planning to buy their own homes and shift there. Moreover, with a large number of people losing their jobs and thus finding it hard to consistently keep paying their rents, they prefer to purchase a home.

The job losses have also triggered a phase of reverse migration. People coming back to their hometowns after losing employment in the metro cities are now seeking new homes. Another section of people among whom the demand for residential properties is increasing is that of investors. Although the real estate sector already held a large number of Indian investors, the stock market attracted a fair share as well. Now with the stocks fluctuating and resulting in heavy losses for many shareholders, they are switching to real estate. Homes are much more stable sources of income and at a time when employment is scarce, such sources are high in demand.

According to reports, most homebuyers are seeking ready-to-move homes in the affordable and mid-budget segments. Many developers are increasingly focusing on such projects and additionally offering special rebates, refund policies and more. This is a good time for homebuyers to make their purchase as interest rates are low, developers are offering favourable deals and home investments are growing more profitable. It is expected that several good changes are going to emerge in the realty sector and the post-COVID era would see the industry on a stable path towards flourishing.

How to Maximize Space in your Home?

We all love staying in a spacious house that gives a sense of extra happiness and comfort. But most often we all end up staying in smaller apartments that are close to our workplaces. But don’t worry; there are some easy ways by which you can maximize the space in your house or apartment. Readjusting the lighting, wall colors, furniture, and other home accessories can help to make your rooms airy and more spacious. Whether you stay in a smaller apartment or an independent villa, it is always better to make some small space saving alterations that will uplift your mood and create a positive living environment.

Here are some cool ideas that you can follow to maximize space in your house:

Adjust the lighting

Let natural light flow into your room as much as possible. Open your windows during the daytime and use light-colored curtains instead of dark, heavy ones that can hinder sunlight. A brightly lit room will make space look larger than it is. If there is a lack of natural light in certain rooms, then set up different types of lights to brighten the space and add a feeling of spaciousness. You can consider installing recessed lighting and track lighting in rooms. You can replace a ceiling light with track lights to highlight certain areas in your room. Recessed lighting can add lighting to your walls and make it look larger. Avoid using floor lamps and table lamps in small rooms as it will make space look more cluttered.

Bring in more mirrors

Believe it or not, mirrors can do wonders as they make your house look larger and spacious. Hanging mirrors in a small space can create an optical illusion of spaciousness. It’s a common trick used by interior designers. Mirrors installed on the walls opposite the windows and doors will reflect light and thus add more brightness to a room. If you have a good view from your window, try to place the mirror in such a way that the view is reflected in it. You may have to get help from home maintenance experts to hang heavy mirrors as they would require strong support to be installed on the walls.

Choose the right curtains

Even the smallest living space can look more spacious and large if you follow a few curtain tricks. The higher the curtain rod, the taller the window will appear. Always mount the curtain rod close to the ceiling and away from the window frames. Classic floor-length panels help to create an illusion of height when you enter the room. Also, make sure that you choose a curtain rod that is wider than the window’s width. It gives the impression that the window is larger. Hang curtains about 4 inches above a window frame in rooms with ceiling moldings and up to 6 inches in rooms without moldings. Try to use lightweight curtains with vertical prints which help to make space look higher. Avoid heavily colored horizontal patterns or large floral prints, which tend to make the room look smaller.

Build more storage

Organizing your stuff and decluttering is the easiest way to add more space to your home. While purchasing your furniture try to choose those with built-storage spaces such as a storage bed, ottoman stools with storage, etc. Such multi-functional furniture can be used to store blankets, bedsheets, towels and curtains. You can also install overhead cabinets in all rooms to store away things that you may not need frequently. If you have free space under the staircase, install storage racks or cabinets to make the most of it. Stacking newspapers, magazines, and plastic containers can create more clutter in your home. So every month you should make sure that you get rid of such unwanted stuff.

Arrange your furniture

The right balance of furniture can make the room look spacious and roomy. It may sound surprising but yes it’s true that some quick rearrangements can transform the appearance of your home. If you think that your room looks very crammed, you must consider replacing or removing some furniture. This process can be made enjoyable if you and your family can do it together on holiday. Get suggestions from your spouse or children because who knows it may turn out to be very innovative and helpful. Heavy and outdated furniture can easily be exchanged to buy more trendy and sleek alternatives. If you are setting up your new home, then it is always better to seek advice from a certified interior designer. A less crowded and organized house can make life more enjoyable for your whole family.

Paint the walls with neutral hues

Smaller apartments or homes can look more constricted when you apply the wrong wall color. By choosing the right wall color, you can make the room feel taller and more spacious. For smaller homes, it is better to choose lighter color shades to paint the walls instead of rich darker shades. Lighter or neutral hues can add more light to your rooms. Avoid warm, dark shades like orange, red, and yellow for your house interiors. These colors may look pretty in larger living spaces but in small rooms, it will create a feeling that the elements of the room are closer than they are. You can also try color contrast to the ceiling or walls by choosing slightly different shades.

Open kitchen shelving

The kitchen is the heart of your home and the most important part of your household. Having a spacious and functional kitchen can help you feel positive and energized while making food. Open cabinets are now trending in most of the modern apartment homes as it gives an airy feel to your kitchen. So if you are designing your kitchen, consider having open shelves instead of closed cabinets which takes up all the space in the room. Moreover, these open shelves give you the privilege to showcase your fancy cooking utensils and artifacts. Installing modular kitchen cabinets can also cost you a lot of money so if you are opting for open shelving, you can also cut down on your expenses. Put recessed lighting under kitchen cabinets to illuminate the countertop and reflect light into the rest of the room.

How To Check The Construction Quality Of Your Home

If you are planning to invest in a property or new home, we recommend you to follow this construction quality checklist:

  • Determine the soil type
    Check the structural design
    Inspect the wall thickness
    Check the plastering quality
    Quality check of fitting & fixtures
    Assess the quality of the concrete mix

Now let us discuss in detail the above-mentioned quality aspects.

1. Inspect the wall thickness

The thickness or width of the house walls must match with the measurements given in your property’s legal documents. Visit the construction site and inspect the walls physically with the help of a trusted architect. You can also check the quality by pressing against the wall or trying to insert a sharp object such as a key.

If the walls are not thick and rigid, then this will create a hole or crack. You can also tap against the wall using your knuckles to see if it is solid or hollow inside. If the wall develops any cracks easily or seems to be fragile then it means that the builder has not complied with good quality standards.

2. Check the plastering quality

While inspecting a home, you must check if there are any small cracks on wall plastering. This is one of the aspects that usually all home buyers tend to overlook. Some houses may have cracks in the corners or lower portion of the walls which may be hidden under a coat of paint. This aspect is especially important if you are buying an aged property.

The wall cracks may be an indication of poor quality plastering or even water leakage. Many builders try to deceive the buyers by using poor quality materials to construct a house or apartment. So as a buyer, you should not get duped by such offerings. Choose to buy property from a reliable builder with a good reputation as they will always use the best quality materials for construction.

3. Determine the soil type

The type of soil varies from one location to another. The first step of a home quality inspection is to check the characteristics of the ground soil on which the structure is built. The type of soil is a crucial aspect to consider as it determines the strength of the building. Some soils types will not be able to support a high-rise building. If the soil is not stable, the foundation of the building can be affected or even collapse.

Builders will often add sand to the foundation soil and to enhance stability. Clay rich soil and black cotton are not recommended as they have very low bearing capacity and high swelling & shrinkage characteristics. Sandy soil, Loamy soil, Chalky soil, etc. are good options for construction as they allow water to drain away from the site and at the same time will remain firm. It is ideal to get a soil test done with the help of a professional construction expert.

4. Check the structural design

The basic structural design of a building is another key aspect to consider while inspecting a house. The structure which includes wall, beams, columns and roof determines the stability and strength of a building. The design should be in such a way that it ensures maximum safety and rigidity to the building.

Assess whether the building is constructed to withstand earthquakes of a certain magnitude and other common environmental disasters. As a home-buyer, you may not be qualified enough to verify the structural quality of a building. So you can seek assistance from a qualified architect or construction engineer to evaluate the quality of the building structure.

5.Quality check of fitting & fixtures

Home-buyers should pay attention to the minute details while inspecting the construction quality of a home. Fittings and fixtures of a new home determine the level of comfort of the residents. So while you are at the house, go around and check if all switches and electric accessories used are of good quality and ensure smooth functioning. Also check if the kitchen and bathroom fittings such as taps, shower-heads, washbasin, drainage pipes, etc are in good condition.

You must inform the builder if you notice any kind of water leakage or other damages. Another important factor that you must check is the proper placement of doors and window panes. All joints must be fixed and lubricated well to avoid creaking noises while opening.

6. Assess the quality of the concrete mix

The strength of the concrete mix used in a construction determines the load-bearing capacity of a structure. Nowadays ready-mix concrete with the optimum concrete-sand ratio is available in the market. Responsible builders will ensure that they use the best quality concrete mix for building homes. You can check the quality of concrete used for construction by driving a nail into the wall. If the nail gets inserted easily without any effort, then it means that the concrete quality is not up to the mark

Smart Ways to Invest in Real Estate with a Bad Credit Score

We all know that investing in real estate is a great option to secure our future financially. With numerous residential projects being offered at affordable prices, it is no surprise that you would be tempted to own a new house. However, if you haven’t maintained a good credit history, you may be wondering how to deal with it. Your credit score comes into the picture if you are planning to avail of a home loan to buy a new property. If you are not sure what a bad credit score means then we will give you a brief.

What is a bad credit score?

A credit score is a number that represents a person’s creditworthiness or ability to repay the loan amount. Banks or lending firms check your credit score to decide your loan eligibility. It is a three-digit number that falls in the range of 300 – 900. It is calculated based on your previous credit payment history. If you have a credit score which is above 650, your chances of getting a loan sanctioned will be more.

If you are someone who did not manage to get a high credit score, don’t lose your hope. A bad credit score doesn’t necessarily stop you from investing in real estate. Keep your worries aside and read on to know how you can still consider buying a property with a bad credit score.

6 ways to get around bad credit to invest in property

  • Real estate partnership
  • Find a co-signer for the loan
  • Fix and flip strategy
  • Hard money loans
  • Larger down payments
  • Investing through REIT
  • Real estate partnership

Forming a real estate partnership with a trusted person is a good way of investing in real estate. If you can find an investment partner with a good credit score, then you can use their credit benefits to purchase a property. In this case, the financial burden can be shared between you and your partner. Also, the profits will be shared by the partners as agreed. While getting into a real estate partnership, make sure that you prepare a contract document reviewed and signed by both parties to avoid conflicts. A real estate partnership will allow you to make larger investments which can bring more returns in the future.

Fix and flip strategy

If you are not eligible to buy a brand new home, then fret not you can always start by investing in a distressed property available at cheap rates. You may be eligible to get a lower loan amount to afford an old house that needs repair. After buying this home, you can get it renovated and flipped for a profit. This investment strategy is called fix and flip and it gives you a chance to get good returns in a short period. Although this method involves more labor as compared to buying a new property, this option has less capital investment, making it easier for people with low credit scores. Make sure that you choose a property with a good location advantage.

Find a co-signer for your loan

If your credit score is not satisfactory to get a loan sanctioned, then try to find a co-signer with a good credit score. It can be a relative or a close friend who is willing to act as a guarantor of your loan. Before availing the loan, make sure that you have the capability to pay the monthly loan EMIs. Failing to pay the loan installments will not only put you at risk but will also affect your co-signer. If you are paying the EMIs regularly without delays, then you can see that your credit score is improving gradually.

Real estate wholesaling

Real estate wholesaling is another method to invest in real estate with a bad credit score. Real estate wholesaling involves a wholesaler contracting a property with a seller and then finding a suitable buyer who can purchase it for a higher price. The difference in price will be taken as a profit. Wholesaling is one of the best short-term investment methods followed by real estate investors. It is also a great option for beginners to get a breakthrough in real estate investments as it does not demand a big amount of capital to start with. Real estate wholesalers generally find and contract distressed properties. Wholesaling requires great marketing skills to ensure profits. In some regions, you may also need a real estate license to practice wholesaling.

Larger down payments

If you have saved a significant amount of money to be used as a down payment, you can try to secure a loan on this basis. That is, if you are capable of paying 20% of the loan amount or higher in advance, then you may be eligible to avail of a home loan despite having a low credit score. Larger down payment may qualify you for availing the desired loan amount as it represents the good financial stability of the borrower. Although this method can be time-consuming as it involves saving a huge amount of money, you will still have the satisfaction of buying property based on your credit.

Hard money loans

If you find it difficult to get a home loan sanctioned from a bank due to a low credit score, you can also try hard money loans. A hard money loan is a short-term loan funded by private investors (individuals or businesses) which is secured by real estate property. The term hard money loans are usually 12 months but it can be extended for up to 2 or 5 years. The interest rates for these loans are higher as compared to conventional home loans from banks or financial institutions. However, a hard money loan is ideal for a fix and flip investment strategy. Getting a hard money loan with a bad credit score is not an issue as these lenders don’t follow strict regulations and policies based on credit score.

Investing with REIT

For those who are dreaming to invest in property but unable to start with it, you have the option of investing with REITs (Real Estate Investment Trusts). A REIT is a company that pools capital from numerous investors to invest at a commercial level. So rather than buying a property of your own, you can pool your money with other investors through a REIT. A Real Estate Investment Trust leases property and collects the rent to distribute it as dividends to shareholders. This method can help you earn profit to gradually increase wealth and improve your credit score. REITs facilitate you to earn money without having to buy or manage the properties on your own.

How to Keep Your Home Electrically Safe

Did you know, at least 40% of fire accidents reported in India are caused by electrical issues? As per the data provided by the Indian Copper Association India (ICA-India), the year 2016-17 witnessed 11,444 electrical accidents. That said, electricity-related accidents at home can be avoided by taking the following essential safety precautions.

Use the correct wattage in all fixtures and appliances

Sometimes following safety tips as simple as using the right wattage can help prevent electrical accidents. Check and recheck the wattage on all the fixtures and appliances. For any unmarked fixtures, always choose bulbs/appliances no more than 25-watts.
Never overload

Extension cords and multi-outlet converters may make your morning rush seem more manageable. But one must remember that power strips only add outlets and they do not change the amount of power. So it is important to not overload outlets at home. According to the Electrical Safety Foundation International (ESFI), it is very important to not use more than one heat-producing appliance in an outlet at a time.
Make regular checks

Spend a few minutes every once in a while to check for any fraying or cracking in extension cords and wiring. Simple safety measures can help prevent major accidents in the future. Ensure that you replace or repair damaged electrical cords or appliances as soon as possible to keep your family safe.

Check all your electrical appliances, switchboards, and gadgets for unusual heating. Hot switchboards could indicate internal damage and may need replacement.
Give appliances enough space for air circulation

Always avoid running appliances out of cabinets and closed spaces. Without proper air circulation, your equipment may overheat, short out, and cause electrical fires. It is always a safe practice to place appliances a few feet away from walls.
Let’s talk water heaters

India reports many cases of water heater accidents every year. Water heaters/geysers are some of the most dangerous everyday appliances at homes and need regular maintenance checks. Get a qualified electrician to service these water heaters at least twice in a year for safe usage.
Keep electrical devices away from water

When working with electrical appliances, make sure your hands are dry. Keep all your equipment dry and away from water to prevent any instance of electrocution. Also remember to keep your electrical equipment away from aquariums, bathtubs, showers, sinks, and pools.

Use good quality electrical cords and equipment

While it is easy to keep an eye on electrical equipment and cords in your home, it is also very important to speak to your builder to use only the best available electrical supplies. Quality wires and sockets that adhere to electrical safety standards can help prevent fire accidents caused by faulty electrical equipment.

VastuShastra : A Science for Your Home

You must have heard of Vastu Shastra and many of you must be thinking of applying it to your homes, buildings or offices. Vastu Shastra is a science of construction or architecture used since ancient time and is based on traditional and archaic view of law of nature and how it affects human dwellings. According to theory of vastushastra, world comprises of five basic elements i.e. earth, water, air, fire and space and it is very essential to maintain proper balance between these elements.

These elements heavily influence human lives and thus one must take care and understand effectiveness of these elements while constructing a building or a house. You must be thinking of buying a plot for your dream home or office but after you buy a plot, you must follow some Vastu Tips for best results like for good health, wealth, prosperity and contentment.

Myths related to Vastushastra:

  • Vastu puja at home must be done.
  • Trees should not be there around the house.
  • Impression or shadow of tree should be totally avoided in any part of the house.

Vastu Tips while Constructing a New House:

  • There must not be 5 corners in the house and if you have fifth corner, then it must be on ishan side.
  • There must be open space all around the building for proper flow of air and light.
  • Before starting the construction of the house, plot must be cleared of thorny bushes and plants. The trash and stones must be removed from the construction site.
  • Only new material should be used for the construction of the building.
  • Dig a well in N-E direction and use this ground water for the construction of the house.
  • Don’t bring disturbing piece of art like those depicting war and misery as it brings negative energy in the house.
  • Tree plantation in N-E corner should be avoided. Heavy trees must be grown on south, west or S-W side.
  • Windows and doors must be in north or east direction.
  • One must paint his/her house in light colors avoiding red and black for bringing prosperity.
  • Doors must be opened at inner side of the house not at outer side as it brings luck and positive energy in the house.

Thus, one must know that vastushastra is a science and not a deity and you must follow these simple steps to bring health, wealth and prosperity in the house.

Why NRIs Are Shifting Towards Commercial Real Estate In India?

In India, the real market for commercial one is far better professionalized and organized than the estate market of the residential sector.

NRIs are always a popular choice for the real estate developers in India and in the coming time also, it will be the same. It is not because of the financial capabilities of NRIs but they are the favorite option for real estate developers as they have an excellent ability to boost and gauge the investment trend in a new direction. For the last two years, there has been a reduction in the rate of capital appreciation that has resulted in the slowdown of the real estate market. This has shattered the expectations of the NRIs. and it was not in accordance with the investor’s expectation.

It has pushed the NRI investors to seek for the other great opportunities in the real estate connected with the commercial one as the commercial real estate is offering excellent capital appreciation along with rental yields. The whole scenario has been changed as there is a change in demand and demand is rising for the commercial spaces. These commercial spaces are required for the large-scale space requirement along with the Real Investment Trust’s formation which includes Grade A offices, logistics centers, and IT parks.

There are many cities in India such as the National Capital Region or NCR, Mumbai, Bengaluru, Hyderabad, Chennai, and Pune that are witnessing a vibrant demand for commercial spaces, Grade A offices, co-working units. The demand has been changed as all these cities have the demand for office spaces as the generation of business is doing great in these places. Although the demand is not matched with the supply. This imbalance of demand and supply has assured the future appreciation of office spaces in these areas. So, all these factors have pushed the demand for commercial projects.

However, this information is out for the NRI investors, but all the investors can gauge the trend of the market at the right time. Even, when the NRI investor keeps an eye on the market trend, there are still other pre-conditions that must be considered before finalizing the decision for investment. These are as follows:

Citizenship Rule: The NRI investor must have a valid Indian Passport and it is a mandatory condition for NRI and no other approval is required. But if they are the citizens of neighbors of India such as China, Pakistan, Afghanistan, Nepal, Iran, Pakistan, and Bangladesh.

Type of Property: NRI can make investments in commercial and residential properties in the country except for agricultural land, farmhouses, and plantation properties. But they can receive and give such kind of properties as gifts.

Banking: all the transactions will be completed via regular banking channels only and it will be done via Indian currency through the NRI account.

Gifted or Inherited immovable: NRI investors have permission to rent and lease such kind of properties.

NRIs must pay attention to basic rules of investments and hire a good lawyer will help you in handling such cases.

5 Economical Tips To Renovate Your House

Renovation makes your house look more beautiful and helps you to utilize the available space in accordance to your preferences and requirements. It also gives a modern and contemporary touch to your property. But excitement of getting your home renovated has to be accompanied with a well-thought plan, so that your hard earned-money and times doesn’t go in vein. Renovating a home is indeed a big-task with usually needs big-budget too. Mostly people end up shelling more than they have initially decided for the renovation of their home. But if you invest a little in knowing how you can plan things correctly, for sure you can save a lot and get your dream home without digging a hole in your pocket.

Bring In The Natural Light

When renovating the house, it is imperative to think long-term cost-savings. Instead of installing fancy lights in the house, opt for options that let the natural light come in. Give way to large windows that let the natural sunlight seep into the house. If you do not want to spend extra bucks in cutting out a big hole in the wall for a window, you can also install ‘light tubes’ in the dingy areas inside the house to let sunshine funnel into the rooms. Moreover, you can also save on the labor cost spent for installing the expensive light fixtures.

Get Stuff From Auctions, Sales Or Tradies’ Sources

To save some extra bucks while renovating the house, investing in stuff from the auctions, sales and tradies’ sources is a wise bet. Research online or go around your neighborhood to find the auctions performed by those selling off their belongings. You would be surprised to see the quality of items you can find at such auctions. Moreover, online stores are always up with seasonal sales. You can make the most of this opportunity and get a number of things at a discounted price. Another great option to buy different things like tiles, wooden frames etc., at a discounted price of from the traders or the people working on your renovation. More often than not, these tradies have some remaining stuff from their previous projects which they can readily offer at a low price.

 Recycle The Discarded Items

Get creative and use your DIY skills to recycle and reuse the items clubbed and discarded in the trash category. The less used fixtures and building materials can be used once again in the renovation work. Salvage all the materials like the skylights, fittings, curtain rods, window panes etc., to reuse them in the renovation. These things can be customized and given a new touch to be used once again. In fact, the doors of the house which cast the first impression can also be installed again after giving them a fresh paint if they are in an optimal condition.

Cover Up The Rough Walls

If the walls of the house have gone too rough and require days of labor for filling and sanding the walls, it’s better to cover them up. There are various items available in the market that can be used as a cover-up for such walls. Texturglas is one such material which can be spread over a rough wall to give it a smooth and new-line texture. Wooden or tile wainscoting can also be used to cover the lower portion of the wall that is usually more damaged. The wall behind the bed or sofas can be covered up using tufted faux leather panels. Metallic wallpapers can also be used on one of the walls of the house to highlight the wall and give the room a classy yet chic look.

Install Crown Moldings Or False Ceilings

While renovating the ceiling of the house, you can save a lot of money by installing false ceilings or crown moldings. Both of them are the modern and contemporary style used for giving the ceiling a completely new look. A false ceiling can be put up at a much lower cost than the repairing and renovation of a ceiling. Moreover, crown moldings can be used to give an upgraded look to the home. You can opt for materials like plaster, wood, MDF, polystyrene, flex, and polyurethane etc., to give a new look to your ceiling at a cheap price.