Skip to main content

Why Home Purchase is Costlier Today


Property rates have been increasing steadily and people who have bought properties some years back are happy that their investment has doubled or tripled in the following years. As an investment option property is coming up as the best as there is no risk of loss with rates increasing at a fast and regular pace.

Invest in Property
Why home rates are shooting up is a big story. With all the construction materials becoming expensive this is not the only reason for shooting rates of property. The most important point here is that government has increased the time for approval of many projects. With so much demand for new homes the supply part is slowly progressing. Even though we see many properties coming up and with every new day there are a wider range of budget homes, in reality the home seeker is still under  tight spot. There are still few properties which come in the budget range for the middle class man. Also the down payment is a larger figure which many middle class families cannot come up with. Hence the decision of purchasing a first home gets delayed for later. There is again no later as people have waited and waited for property prices to fall or stabilise but the picture is not changing. In fact now the developers and builders have increased the rates of offering homes putting all the blame on the government time consuming procedures of approval of projects.
According to many developers the procedures of approvals of housing projects is tasking time and hence due to high demand and low supply the buyers have the face the high rates for buying homes. Putting forward the many advantages of properties available and also at various festive offers along with attractive interest rates on home loans the buyer still has to pay a higher amount to go in for purchasing a home. Homes which would cost in lakhs have now moved to crores and with the administrative costs also increasing who is at advantage the buyer or the sellers? or the ones making housing development and housing finance rules!

Comments

Popular posts from this blog

Washington Home Loans

An interest-only loan has become a very popular choice of the many Washington home loans that are available.  What is making this type of loan so popular?  What other options are available to potential Washington home buyers. If you have a desire for a lower initial monthly payment, lower payments over shorter period of time, the possibility that if rates improve your rates could go down giving you lower payments, the fact you may qualify for even an even higher loan amount which would allow you to purchase a larger house than originally you thought this may be an option you should investigate.  There are a couple of other things you may need to consider.  Your payments may change over time.  There is also the potential for higher payments if the rates go up.  These interest-only loans normally interest only for a specific period of time.  The normal time is 4 to 11 years then the payment is raised to a normal level.  This type of an option c...

Get Easy Tax Concessions Bonus on Home Loans

Easy tax concessions are a added bonus with your home  loan. Purchasing a home has become the most sought   after   dream today. Our major salary can go in terms of repaying home loans. With property rates increasing day by day it is becoming more and more difficult to purchase a home even on loan. The principle amount is increasing and also the interest rate added puts a tight crunch on our monthly salary. Tax concessions and rebates come as a boon to lighten this burden a little bit. Is it possible to get tax rebate on the loan amount? Many of us are not aware that this is taxable income money and one can avail rebate on a certain amount. If all returns are filed regularly and all criteria for applying for a home a loan fulfilled then one can avail on tax rebate for a certain amount of the money taken as loan. The main criteria would be the loan has to be taken in the prior financial year and the project has to have a fixed date for completion. The possession of th...

What are Interest Only Home Loans – Simplified Facts on Interest Only Home Loans

What are interest only home loans.   ‘Interest only home loans’ means that the borrower ends up paying only the interest for some years and then the principle amount is added later for years.  This has risen as a better option for many who are not in position to pay large amounts as EMI’s in present years. Usually for homes bought in construction phase, you keep paying small amounts of interest. In this type of offer the lender gives money to the borrower and the purchase deed is completed. The borrower becomes the owner of the house. Every month he has to pay a small amount that is interest to the principle amount (loan amount). During later years, as    the construction progresses and the housing complex is ready   he has to pay the interest along with large sums of the principle amount. This option may be good for individuals who are highly qualified and have a new job and they know that over the years their salary is going to increase with their experience....