Monthly Archives: July 2011

Green Homes in India- A Fast Developing Concept

Posted by Housing in India on July 21, 2011 4 comments

Is the Indian society finally becoming power conscious? The fact that Green Homes in India has taken on the housing market, we can safely say a yes. What if there is power shortage in the country. The middle-class is finally choosing to reduce on the electricity bill. According to the Green Council, there is a possibility of up to 40 per cent reductions in electricity consumption in the energy efficient homes in India. To avoid the pollution-laden places, people are shifting their focus on Green Homes that is also known as the ecology homes in India.

One of the misconceptions that exist about Green Homes is that there should be a lot of greenery all around the home or apartment. Many buildings have roof-top gardens to reduce on the carbon dioxide emissions. But, unfortunately that is not what Green Homes really are. There are several other rules and regulations, building materials, and unique construction work involved in the Green Homes projects in India.

The sites are well-maintained places that ensure underground sewage, waste disposal pit, rain-water harvesting systems, and then use of solar energy throughout the complex. The homes are well lit but within minimum fuel cell bulbs. Lot of day light is allowed to ply in the houses. Night time facility can be much like the historical architectures, where the palaces would have granules on the roof to allow the moonlight to be in. The living rooms in the Green Buildings in India now opt for such lightning system.

Recently, there are more feathers added to the crown of the energy saving homes in India. After the first one was constructed in Hyderabad in 2003, there are many more projects that have been successfully completed in Mumbai, Kolkata, Delhi, Gurgaon, and Kolkata. Many say that Green Homes in India is the present need to conserve the environmental and the natural resources in India. The resources are scarce and therefore needs to be preserved. The more the concept of Green Homes in India is getting clearer in the mind of the people, the more it is beneficial to the environment.

If you are thinking on the economic angle as well, these homes are the future of India. It is one way to say together that we stand to save power, energy, and the environment. The need of the hour is however the technological advancement, supply of alternative energy, and additional products that would eventually speed up the construction of the lavish Green Homes in India.

We need to figure out that what really makes a home eco-friendly in India especially since there is often a huge construction cost involved. Maintaining the Green Homes ethics is not always possible in remote areas of a city. Architecture is a prime requirement for inducing all Green Homes facilities in old houses. Re-modeling though may not give Green Homes label to all the houses. Climate control, pollution control system, and sustainability are factors that only projects with an architecture that is equipped with these systems right from construction time.

Types of Home Loans in India

Posted by Housing in India on July 20, 2011 11 comments

Owing a home is a dream, which many of us nurture but most of us do not have lump sum money in hand required to buy the home. This is where home loans come to the picture; the loan can help us in buying the house, which we dream to possess. Buying a home is a very important decision of our life, so before we set off for this journey, we must be clear about what we want. We have to research about the types of loans available and based on that decide the amount of loan money, we need.

There are various types of home loans in India, which you can take based on your requirements. Here are some of them listed below:

  • Home Purchase Loan- This is the basic form of home loan which can be taken for purchasing a new home.
  • Home Construction Loan- You can take this loan for the construction of a new home.
  • Home Improvement Loan- This loan can be taken for implementing any repair work in your home, that has already been purchased.
  • Home Extension Loan- This loan can be taken if you wish to expand or extend your existing home. For example: Adding a new room or rooms.
  • Home Conversion Loan- This loan is designed for those who have financed their existing home with a home loan and want to purchase a new home by selling the existing home. Loan of the existing home will be transferred to the new home, with an increase in the loan amount based on the current eligibility. Thus, you will be saved from the hassles of repaying the first loan and then getting another loan to buy the new home.
  • Land Purchase Loan- This loan is available to those who wish to purchase land for both investment as well as construction purposes.
  • Bridge Loan- This loan is for people who want to sell their existing home and purchase a new one. The bridge loan helps in financing the new home, until a buyer is found for the existing home.
  • NRI Home Loan- This loan is available for Non- Resident Indians who wish to build or buy a home or land property in India.

Once you have selected the type of home loan you want, you need to find out from where you can get this loan. There are various banks and financial institutions, which provide home loans in India. For information about the home loans offered by different banks and financial institutions, visit HousinginIndia.com.

Tips For First Time Home Buyers

Posted by Housing in India on July 12, 2011 12 comments

Are you planning to buy your first home? You might be very confused and a little nervous and its normal to feel that way after all you are buying home for the first time. But this often leads to a wrong decision and thus your hard core investment goes in vain.

Here are some tips that may help you to get rid of your nervousness and take a right decision.

  • Before Buying a Home, Define your Search Parameters and Plan your Finances: Remember, the right home for you is one you want and can afford. Look at your budget and determine how a house fits into it. Find out what would be your total monthly housing cost, including taxes and insurance. Also, check the selling prices of comparable homes in the area where you are planning to buy a home.
  • Hire an Agent: Search for a real estate agent to help you with buying a home. Although a lot of information is available online but all local markets vary from one another and an agent with experience and market knowledge can guide you and help you to avoid mistakes such as choosing the wrong home or offering too much. You can search for a real estate agent on the internet or you can ask your friends and family members for referrals.
  • Find a home to buy: Finding the right home is not always an easy task. It is advisable to look at a maximum of 7 homes at a time because any more than that will make your head spin. Ask your agent to look at homes before showing them to you, and tour only those that fit your parameters. Before making a final call, view your top choices a second time. This time you will see them with different eyes and may notice elements that were overlooked during the first visit.
  • Arrange a Loan: Search for a lender from where you can get a loan. Compare the rates and fees of different banks and financial institutions. It is smarter to get loan preapproval in advance. It not only saves your time but also gives an assurance to the seller about your credibility.
  • Shop around for Insurance: Your lender may require you to have a home insurance. Insurance companies have come out with various home insurance policies but you must choose a policy that meets your need for a protection while being within your budget.
  • Negotiate the Offer: Once you have found the house you want, you should make an offer that’s lower than the seller’s asking price. The seller usually expects this and will likely make a counter offer. Although buying a home is not like buying clothes, but you can still negotiate to get a good price.
  • Do a Home Inspection: Never buy a home without getting a home inspection. Always do a final inspection a few days before closing the deal to make sure the house is in the same condition as when you agreed to buy it.

While buying a home, always consider these points in your mind. You are probably spending a lot of money and making the most important financial purchase of your life. So consider whether you are ready for the expense and effort of homeownership before making a final call.