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Have you taken a home insurance yet?-Icon Homz

We build our home with much love, effort and money.  Imagine the loss if God forbid a disaster, either natural or otherwise was to strike it! When we guard our life and health with insurance policies, does it not make sense to guard our home too like-wise?

Home insurance, though not a popular concept a while ago, is gaining on importance in India. Your home loan lender is the best person to guide you on the process. You have the option to insure the contents of the home along with the structure against a host of factors like earthquake, floods, fire, theft, and so on.

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Image: http://bit.ly/1eLXNh8

It is also possible to cover the valuables like electronic items, jewelry and any other items of high value. The insurance value will generally be the market value of the insured item minus the depreciation value. In case of any untoward incident, the amount payable will be the sum that is required to restore the property to the same condition as it was before the incident.

Whether you own an apartment or an independent house, take into factors you’d like to have covered in your insurance policies and also do read the policy document carefully. It is also prudent to compare a couple of policies before deciding the one that suits your requirements. Another point to note is that factors like natural wear and tear, depreciation of the property and any damage that is proven to be caused deliberately by the owner is not covered under the insurance.

Icon Homz is a young entrepreneurship; our energetic and creative team creates beautiful homes in an affordable range. Visit our website http://www.iconipl.com/ to know about our projects and be a part of our FB page https://www.facebook.com/iconshelters to get our latest updates.

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What to expect while buying a re-sale home?-Icon Homz

Should you go for a newly constructed flat or buy a re-sale one? This is a million dollar question that hounds most property buyers at some point or the other. As to any situation, there can be a host of advantages and disadvantages and a careful consideration of these will help you to take an informed decision.

In a re-sale deal, you are ensured of an established neighbourhood. The amenities are in place and you exactly know what you are getting into in terms of the carpet area, location advantage, proximity to essential needs, or services available. You are also aware of any faults in the construction and can plan your re-design accordingly. You’ll be getting into a well-oiled community without the hiccups of intermittent essential services that the newer complexes generally face. There’s also no delay in the date of possession or move-in as compared to under-construction ones where you risk larger outflow of cash than expected due to constant delays in completion.

On the other hand it is cumbersome or may not be even possible to implement any structural changes. Any change fittings or fixtures could be cumbersome since a lot of breaking and re-modeling would be involved. The amenities may not be at par with the latest and newest. You are also not covered under the standard warranty period that the builder gives for a new apartment.  Since the age of flat plays an important role in a sale deal, you may not find buyers easily if and when you decide to sell a second-hand home.

 

Buying a home is a decision that has a lot of emotional as well as rational factors like finance, etc playing equal roles. Hence it is prudent to consider all options, weigh the pros and cons in each possibility and then take the plunge. Ultimately home is where the heart is.

Icon Homz is a young entrepreneurship; our energetic and creative team creates beautiful homes in an affordable range. Visit our website http://www.iconipl.com/ to know about our projects and be a part of our FB page https://www.facebook.com/iconshelters to get our latest updates.

Before you finalize your dream home-Icon Homz

 

real estate contract with keys and house

So, you’ve identified your dream home and are waiting to give the booking amount to make it yours. Before you make that huge leap, pause and see if you’ve given the below factors due consideration:

Price appreciation: Realty business can be baffling and it is really not easy to predict the trend. Some might say the prices are bound to crash or correct in a few months time and some might say just the opposite. While this can be a tricky factor, once you’ve decided to purchase a house, do a due diligence on price variations in that location in the past year and check if the property will see a good appreciation in the times to come.

Accessibility: In the rush to be the last few lucky ones to own that dream property, it is possible to overlook vital features as this. It might seem that the offices and schools are just a little far away at first. However, do consider the fact that you’re about to make a living on a permanent basis and however great an apartment is, if it lacks quick and easy accessibility to essential areas, it is not worth the money.

Research on the builder: with new and newer builders flouting their projects for a first time in the city, it makes sense to track the builder’s record in terms of construction quality, timely delivery, etc to avoid heartache and a hole in the pocket. While you might find mixed reviews for almost all builders including reputed ones, go with the one that closely matches your expectations.

Visit previous properties: Once you’ve finalized on the builder and seem satisfied with what he is offering, take some time and effort to actually visit any previous completed projects. Older the project, the better since by then the cracks in the quality would have surfaced. Talk to prospective buyers, previous buyers and see what they feel are the pros and the cons. Make an informed decision thereafter.

Budget: Another very important factor that sometimes gets stretched to unimaginable proportions. Have a fairly flexible budget but never let it exceed the upper limit which should be set after considering your repaying capacity, assets and saving plans.

Read the fine print: Read the important documents carefully with the help of a lawyer preferably. Make sure the legal issues are all clear, the titles and approvals are in place. Also, make sure that the builder has mentioned in writing about the kind of amenities and fittings he’d be providing so that you’ve a proof to go back, if needed.

Buying your first home is an emotional experience for many. So, consider the above factors to ensure that you are not in for any kind of unpleasant surprises.

Icon Homz is a young entrepreneurship; our energetic and creative team creates beautiful homes in an affordable range. Visit our website http://www.iconipl.com/ to know about our projects and be a part of our FB page https://www.facebook.com/iconshelters to get our latest updates.

Guidance value-How are the buyers impacted by the recent spike in its value?

The valuation of properties in Bangalore are now valued at anywhere between 10-100% higher than the previous rates, depending on the area, thanks to the recent revision.

Guidance value is the minimum value at which a property can be registered. The last revision was done in September 2011.The valuation committee has based the revision on the number of transactions that have take place in the particular area.  Which means the higher the number of transactions in a given area, the higher will be the guidance value and vice-versa.

In a way, the rates saw a correction, as places that have not seen much buyer demand have seen a decline in the guidance value from the existing rates. Buyers who have recently bought their houses in high demand areas like North Bangalore and south-east Bangalore are the worst hit, since they have to now shell out nearly 100% more for registration of their property.

In anticipation of the revision that officially came into force on August 12th, there was a huge rush to register properties towards the end of July and in the first week of August, as buyers wanted to avoid the extra expenses.

What does the revised value mean for Villas?

*Under the new system, registration of villas and houses in gated communities has been included with the guidance value being fixed for the first time. The guidance value for such properties range from Rs. 500 per sq ft to Rs. 10,000 per sq ft in the eastern part of the city; especially near Mahadevapura, K.R. Puram, south-eastern parts around Sarjapur and Hosur Road, and northern parts, including the area around Yelahanka and Bellary Road.

* Source: http://bit.ly/18syUVW

References: http://bit.ly/18syUVW and http://bit.ly/1bbbkOv