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30 December 2010

Value Appreciation of your House and Home Loans

Home loans are taken for purchasing of the first home and also nowadays for second home options. Loans are available easily and procurement for home loans is available in simple and convenient procedures. When purchasing a home for investment purposes and going in for a home loan one must consider the following points:
Selection is best when the house is in a complex or housing society. As individual buildings are quick projects for many builders and they move away from construction site having no regard for infrastructure and other facilities for the clients staying in the lone building. Maintenance also becomes difficult sometimes when few members are involved in the society. Such houses have low appreciation value even though the purchasing rate per square foot may be same as of that particular area.
The construction site and property must have a clear title and ownership must be clear on the name of the builder. Disputed property matters to legal hassles and such house owners also have to bear the brunt of legal delays in construction. Loan taken on such flats sometimes becomes tedious as time lapses go on increasing and without mush development in the construction the client has to keep on repaying the loan amount.
Project under construction must have a clear cut plan and timeline for completion. Very quick projects may not have good quality construction and very lengthy time lines may lead to slow progress and delay in completion of the project on time. Delayed projects do not have a good rate of appreciation compared to other projects that are completing on time.
Infrastructure must be in the complex or near the housing society. Having to travel long distances for basic necessities is very difficult and such projects are slow to appreciate in value.
Promises and offers made by the builder during booking of the home must also be considered as many builders on completion of the project avoid giving the promised facilities on account of high costs and inflation.
Selecting the best home for an investment option considering the above mentioned points will help to save many bad experiences in the long run.  Such homes are best for investment purposes and also their value is bound to appreciate over the time.

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