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Benefits of Owning a home over renting

The benefits of owning a home over renting offer buyers several tax advantages, the flexibility to grow equity, and after all an home to call your own. And, the present realty and mortgage market conditions have created the right opportunity to transition from writing a monthly rent check to investing in your own residence.

Check out these ten benefits of owning a home.

1. Rents increase always

The cost of rent has increased at a fast rate throughout the country. This trend is barely expected to continue. In fact, research from the Urban Institute shows rent in many markets has grown much faster than median incomes. The high cost of rent means paying a monthly mortgage is commonly adored or perhaps cheaper than renting a home.

2. Interest rates are historically low

The argument for getting rather than renting only gets stronger with the low-interest rates that are currently available. What could seem sort of a slight difference in your mortgage rate can make an enormous difference in your monthly payment. Interest rates are still competitively low. So, now’s an excellent time to get a home and interest of low rates. When comparing the advantages of owning vs. renting, you’ll find that a lot of of the present rental rates are more than a mortgage payment.

3. Down payments is as little as zero rupee

Sound too good to be true? it isn’t. There are loan programs and government assistance programs that may get qualified home buyers into a home with a zero down payment. Now, that doesn’t necessarily include closing costs, so keep that in mind. Programs vary by lender and borrowers must meet certain requirements.

4. Gain equity as property values still rise

Home values have risen and are expected to continue rising within the future, making homeownership a profitable long-term investment. Within the past year alone, home prices have risen 13.2%. Why does this matter? Because increasing property values mean that the cash you spend on your home will provide significant returns within the future. And, whenever you create a mortgage payment, a little of that payment pays your loan down every month, providing you with more equity within the home.

5. Herald extra income by renting an area

Being a home-owner means you have got a chance to earn extra income by renting out a space. As a home-owner, everything is totally up to you — what proportion you charge, how often you’ve got someone renting from you, etc. there is no landlord to ask permission from or roommate that needs convincing.

6. Tax deductions

Being a home-owner doesn’t must be just a long-term aspiration. Enjoy short-term savings via annual tax write-offs and mortgage interest payment deductions, together with other deductions reckoning on each individual’s situation. These deductions often amount to significant savings, and that they are after all not available to renters.

Choose Sitaara Real Estate, the best HMDA approved Villa plots in Hyderabad at the most affordable rates.

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10 Things To Consider Before Purchasing Flats And Independent Houses In Hyderabad

Owning a house is a dream for several average Indians. They invest their hard earned money into this brick and mortar structure, called the house. They fill it with their dreams, articles that reflect their choice and make it a home of their dreams. However, there are several aspects that one must consider before buying your dream home. Here is a 10-point checklist that may be handy for you before making your purchase decision.

1. Budget
Purchase a property that you just can afford, don’t overshoot. Just in case of flats or apartments, bear in mind of the hidden or additional charges.

2. Location
See if the situation is convenient to any or all the members of the family. Explore the drawbacks and positives of staying within the shortlisted locality.

3. Lifestyle
While considering localities, check if it suits your lifestyle. Are you an individual who prefers to remain near work? If you’re a sports enthusiast, are there any sports clubs nearby?

4. Connectivity & transport
How well is that the locality connected to other important city areas? Is there a decent transport facility?

5. Clear deed
Always do a legal due diligence before purchasing a property. Make sure the property titles are freed from any hassles for which there’ll be no complications going forward. It is better to undergo the builder-buyer agreement very carefully.

6. Basic infrastructure
How good is the availability of water? Is there Cauvery water connection? If yes, what’s the frequency of the water supply? Are there any frequent power cuts within the locality? What
about the air quality?

7. Social infrastructure
Before buying a property, check the nearby educational institutions, hospitals and shopping centers. It is better to concentrate to details like how far are the closest station house, supermarkets, parks and playgrounds.

8. Construction quality
Don’t go just by the planning of the structure. Get its quality analyzed by a structural engineer.

9. Resale value
Buy sizes that are always in demand. Also consider the brand you’re selecting. This can facilitate your get for a decent resale value later. Conclusion

While buying a house, one must thing about several aspects. Locality, basic and social infrastructure, quality of construction, title and resale value, everything matters. One must take enough time to verify of these aspects well, before making your purchase decision. Choose Sitaara Lifestyle homes, the best real estate dealers in Kothur and Moinabad.

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Secret Tips to Check the Construction Quality of House

As a home-buyer, you surely have to bear in mind the effective ways to examine the development quality of a house that you simply are aiming to buy. With multiple properties available within the market, one may find it difficult to search out a house that meets high-quality standards. A majority of the home-buyers don’t seem to be alert about the ways to test the standard of construction of a house. If you’re buying an under-construction flat or apartment checking the development quality is of utmost importance. We advise you to go to the development site periodically and conduct an intensive inspection to get on the safe side. Good construction quality will make sure that a home is long-lasting and sturdy without the necessity for frequent repair and maintenance.

How To Check the development Quality Of Your Home

If you’re progressing to invest in a property or new home, we recommend you to follow this construction quality checklist :

1. Determine the soil type

The type of soil varies from one location to another. The primary step of a home quality inspection is to test the characteristics of the bottom soil on which the structure is constructed. The sort of soil could be a crucial aspect to contemplate because it determines the strength of the building. Some soils types won’t be able to support a highrise building. If the soil isn’t stable, the inspiration of the building will be affected or perhaps collapse. Builders will often add sand to the muse soil and to reinforce stability. Clay rich soil and black cotton don’t seem to be recommended as they need very low bearing capacity and high swelling & shrinkage characteristics. Sandy soil, Loamy soil, Chalky soil, etc. are good options for construction. It’s ideal to urge a soil test by the assistance of knowledgeable construction expert.

2. Check the structural design

The basic structural design of a building is another key aspect to contemplate while inspecting a house. The structure which incorporates wall, beams, columns and roof determines the soundness and strength of a building. Assess whether the building is built to resist earthquakes of a specific magnitude and other common environmental disasters. As a home-buyer, you’ll not be qualified enough to verify the structural quality of a building. So seeking assistance from a professional architect or construction engineer to judge the standard of the building structure is a must.

3. 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 development site and inspect the walls physically with the assistance of a trusted architect. If the walls don’t seem to be thick and rigid, then this may create a hole or crack. If the wall develops any cracks easily or seems to be fragile then it means the builder has not complied with good quality standards.

4. Check the plastering quality

While inspecting a home, you need to check if there are any small cracks on wall plastering. This can be one among the aspects that sometimes all home buyers tend to overlook. Some houses may have cracks within the corners or lower portion of the walls which can be hidden under a coat of paint. This aspect is particularly important if you’re buying an aged property. The wall cracks is also a sign of poor quality plastering or maybe water leakage. Many builders try and deceive the buyers by using poor quality materials to construct a house or apartment. So as a buyer, you ought to not get duped by such offerings.

5.Quality check of fitting & fixtures

Home-buyers should listen to the minute details while inspecting the development quality of a home. Fittings and fixtures of a brand new home determine the extent of comfort of the residents. So while you’re at the house, go around and check if all switches and electric accessories used are of excellent quality and ensure smooth functioning. Also check if the kitchen and toilet fittings like taps, shower-heads, washbasin, drainage pipes, etc are in condition. You must inform the builder if you notice any quite water leakage or other damages. Another important factor that you just must check is that 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 standard of the concrete mix

The strength of the concrete mix utilized in a construction determines the load-bearing capacity of a structure. Nowadays ready-mix concrete with optimum concrete-sand ratio is out there in the market.

To know more contact our experts at Sitaara Lifestyle Homes.

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