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Showing posts from January, 2015

Money Matters, Buying a Home, How do you manage high Down Payment?

Buying a home for living would often require you to stretch more than what you can afford in terms of total cost of ownership. Since its for your own living, you would like it to be at best location, with best of amenities and of bigger size. All this adds up and shoots up the total price. But you decide that it is worth the HIGH PRICE, as your income would grow over time and you would feel good about the wise investment at the right time. 

But, the big question for many buyers would be to arrange the 20% of down payment which they have to pay today. How can you manage "present" down payment that for a home bought for "future" with price based upon your future income growth?

SAVE, SAVE and SAVE : Save and invest towards the goal when it is atleast two years away. Traditional saving instruments may not grow the money faster, you should look at non-traditional ways like high growth mutual funds or share trading. It may be risky. Some builder…

Young Investors Guide - Get Guarantee For Your Investment

Do you know that many A-grade builders in Bangalore are silencing the voice of buyers, by inserting a clause in the ‘buyer agreement’ that forbids buyers from posting anything unfavourable about the builder online and the agreement says that the developer can claim damages from the buyer, in the event of a violation of the agreement. Also there is a sponsored negative brand building against good builders who are seen as threat to earn super natural profit for substandard properties by A-grade builders!

Young buyers are loosing trust and apprehensive about investing money in good properties, because they fear a delay in the project or worse losing their entire investment. But, little education, awareness and precaution can protect you from loosing money, and can guarantee the expectations for your investment.

Always take a Receipt of the payment that you make. Prefer if you can get it signed by top management.Make sure the duplicate copy is same as original and taken…

Occupation Certificate (OC), the Hot Item which is rarely SERVED by Builders

Do you know the BDA had sanctioned the building plan and issued CC and OC for Mantri Tranquil project, but BESCOM disconnected the electricity finding the violations?

The reason, the BDA ignored the fact that the project was within BBMP limits and that the two blocks of the Mantri Tranquil were built on the storm water drain! The fact remains that the property buyers don't know the importance and meaning of occupation certificate in its true sense. This information asymmetry allows a builder to take customers for a ride.

It can be assumed and granted that the small budget homes will be made with little deviations and occupation certificate for the same should not be expected. Such homes have to wait for akarma sakarma to pay the penalty and regularise the construction to get the occupation certificate.

But how can you forgive the builders, who charge upwards of 75 lacs and do not provide valid and appropriate occupancy certificate?

Without OC, the building is technically unfit for occ…