Buying a Home? Here is how You should check the Credibility of the Builder

check the Credibility of the BuilderBuying a new home involves its own kind of risk, isn’t it? While you cross check the land and financial resources how many of you also go through the credibility of the builders? In the absence of the regulatory body for real estate you need to equip yourself in order to gauge the credibility

In case you are unaware of the ways to check the credibility of the builders – here is how you need to get it right.

  1. Check for layout plan – Checking out a layout plan is important. Once you check it out make sure that it is further authorized by the authorized bodies. Construction buildings that do not have an approval from Municipal Corporation of India wouldn’t be given an approval to occupancy. Therefore, one must determine the credibility of the builder. Similarly, when it comes to real estate builders each plan is carefully analyzed and approved.
  2. Comparisons with competitors – Comparisons with the competitors shall provide a clear idea. List down some of the competitors of the builders and compare the builder’s project based on various parameters. It is one of the efficient ways of developing an understanding about the builder.
  3. Word of mouth – There is always some amount of exaggeration in advertisements, however, word of mouth never lies. Talk to people about the builder. Get in touch with the friends and relatives who might be aware of the builder or stay in the same vicinity. Try to gauge the information from your near dear ones and analyze it carefully. If you read about builders you would realize that the word of mouth generated is always positive.
  4. Research it well – Apart from talking to your near and dear ones go through the reviews available on the internet. If you browse thoroughly, you would be able to figure out that there are a number of sites who provide reliable reviews. Get through them.
  5. The quality of the project – One of the good ways of evaluating the current project quality is by evaluating the previous ones. Go through the projects the builder has done so far and try analyzing it. This would further help you in understanding the quality of the material used, interior and exterior work and so on. Builders ensure that the quality of the project is above the expected standards and they believe in providing nothing less than the best.
  6. Delivery schedule – Determining the delivery schedule of the project is crucial. You wouldn’t desire to invest in the property whose delivery schedule is way ahead. Hence, it is vital that you better ask and document the delivery schedule of the project.
  7. Vacancy rate – Vacancy rate also talks a lot about the quality of the project. In the case when the quality of the project is good then the vacancy rate shall be lower. Similarly, when the quality is worse or perhaps not up to the mark then the vacancy rate would be higher. This shall work as one of the few parameters in deciding whether to invest in the property or not.

This is how you can eventually gauge about the builder and check how credible he/she or his project is. Before investing in any property it is best to cross check such credibility and think before acting.

9 Questions You Should Ask Your Builder before Buying a New Home

Ask Your Builder before Buying a New HomeGetting a new home is overwhelming. Not only does that mean you have to spend a lump amount of time into the constructions, looking into the legal matter and keeping a check on your builder, but it also involves you to spend less time on your present day chores. Remaining emotionally and mentally stable during this rough phase will require some amount of assurance from your builder.

Asking the standard questions should keep things on the correct path. Some of those topics to be covered are:

  1. Standard finishes: The most important thing is to know what exactly your builder is supplying you with. Some houses are totally furnished with bed and linens, some of them are left just after the construction of structure.
  2. Future plans for the community: Not just your home but the future of the community as a whole should be asked about. This way you will get to know which demands are being fulfilled.
  3. Rules and regulations: Each community has different rules and regulations. Ask your builder what they are, regarding your new house. They have to match with your advantages.
  4. Are there warranties?: These days, there are warranties that are applicable for the new houses. Maybe the wiring, or the parking lot advantages, warranties are an important source for gaining information about the place.
  5. Previewing other real estates and talking with past clients: It’s good to have a talk with your builder’s previous clients. That might give you estimation about the products they use, their stealth, the warranties and how much money is actually being invested for the better use.
  6. Blueprint: The blueprint of the house should be thoroughly understood. Ask for a blueprint to be taken home.
  7. Settling as the primary contact: You have to know exactly the person who has to be the primary man for contacting about any affairs related to your new house. He should hold all the intelligence to convey them to you.
  8. Online construction viewing: Nowadays with the advancement of the technological word, high end builders are putting their blueprints up online. Asking for the official site for the particular construction and viewing the progress online should be asked.
  9. Pricing: Last but not the least, the commonest thing you might forget to ask is about the actual pricing. After all the decorations and furnishing, security deposits and legal affairs are done away with, the sum total should be asked. If not the exact amount, an approximated value that won’t shift much should be delivered.

These questions might avoid you from getting a tough time which will lie ahead. Looking after each nook and corner requires a heap of concentration and dedication for the new place.

7 Common Mistakes You Commit While Giving a Flat on Rent

7 Common Mistakes You Commit While Giving a Flat on RentThere are various things and pointers to keep in mind when you are setting up an agreement. Being a landlord is not easy; you not only have to take care of your own house but also the one you are renting. You own that too. There must be specific rules and regulations that are to be laid down before signing off in affirmative for the agreement.

The following topics should be kept in mind when you are renting your property. This not only eases your mind but also keeps the business transactions go smooth:

  1. Know the duration for their stay: The most important thing that has to be mentioned while putting the flat up for a rent to the tenant is the duration of their stay and the duration till which you can put the place on rent.
  2. Clause of Termination: The clause of termination specifies to you the method which will make your tenant bound to leave the property in accordance to you wish. This clause also upholds the fact that this agreement is two sided, so the tenant too can leave when he wishes, but a notice has to be supplied from the side that is breaking the agreement. A term of one or three months has to be given in each case.
  3. Clause of lock-in: The clause of lock in mentions the fact that the tenant is not allowed to leave the flat which he has taken on rent before the term that has been specified. If he does so, then he needs to pay the rented amount that has to be delivered for the lock in period, as mentioned in the rent clause.
  4. Clause of money deposit as security: The clause of security money should be mentioned to your tenant while committing your house for rent. This clause mentions the amount to be paid and the amount that can be refunded at the end of the course of stay. The rules when the money will be deducted from the input also have to be mentioned.
  5. Clause of rent payment: The clause of rent payment specifies the method in which the payment has to be made, in terms of cash, online crediting or cheques. The total amount to be paid each month, with the extras should be mentioned too.
  6. Clause of dispute management: The clause of dispute management writes down specific laws to follow if in future there is a disagreement between the tenant and landlord (you). It has to be mentioned that such acts will take place legally, if there is a problem.
  7. Clause of tenant nuisance: The clause of tenant nuisance prohibits the usage of the flat for illegal purposes such as drug usage, mentions the factors that forbids creating excessive noise, disturbances to others around them etc. There has to be specific rules and regulations written down as to what will happen if such things occur.

7 ways in which Buying a New House could be the Greatest Investment

7 ways in which Buying a New House could be the Greatest InvestmentGetting a new house for yourself or your family may get a little overwhelming. Not only does it mean investing a bulging amount of wealth into it, but also the emotional turmoil of keeping you head straight throughout the purchasing or building process. But nonetheless, this is one of the best investments that can be made in terms of financial assets. A house is not only an asset in the form of money, but also privacy and a deletion of a certain amount of taxes.

Some of the tags that will make you realize about the real estate being a good-on savings for your capital are as follows:

  1. Increase in price of building area: With the increase in the growing population of the stagnant world, the demand on the limited area of land is hiking at an alarming rate. Thus, buying a house now will of course be cheaper than getting one next year and a year after.
  2. Setting side a house for rentals: Having a new house and giving that on rent to a family or more can obviously be a source of income for you.
  3. Can serve as a commodity for selling at a higher price: Less cost price, more selling price. Thus, profit in a high amount. Selling the house at a later stage will of course flourish you with a good amount of profit. The gross value uplifts the cost price in a few years.
  4. Lets you have FHA loans: This type of loan is a type of mortgage that is insured by the Federal Housing Administration. The ones who avail this FHA loan has to pay for the mortgage insurance, which has the capacity to protect the lender from suffering a loss if the borrower fails to pay on the loan.
  5. Having a curb appeal that is not matched by other financial assets: The capital investment may be high at the basal time, but with years, they strike up ahead. The control in the value to be invested in any other assets other than the real estate is larger.
  6. The real estate zone is safer: Investing money in real estate deals is safer than others. This is because the stock market regarding these fluctuates rarely in the downside, and there is a high chance of moving the chips in the higher direction.
  7. Setting aside a property for future generations: Letting your kids take over your property is another aspect that parents always look for. Therefore when you know that you have kept a house aside for them, it will surely give you some peace of mind.

Thus, investing a lump some of money at first may strike you to be an unhealthy investment. But these points surely will make you think about setting a new house as an asset. Thus, go ahead. As I mentioned before, it is a lifetime venture for a better future.

Reasons Why Choosing a Row House Over a Flat is Good

A house turns into a home through the attachment of emotions and the different aspects of life. It doesn’t just stay as a place to live, but as a place for the survival of your spirit and soul. Be it an apartment, villa, mansion, tall skyscrapers or row houses, each and everyone of them has a different perspective and an unusual way to life.

All has their pros and cons in accordance to their environment and their particular characteristics. Here, I will lay down some points on why a row house should be preferred over a flat. They are:

  1. Privacy, privacy and privacy: Nowadays, finding a place to live that is wrapped around in privacy is a hard end to find. Mostly, with the increase in population, the household constructions have taken the liberty of privacy away. But a row house has it’s our aura. Being aloof from the other houses around with it’s own porch, background and garden space, maintaining privacy is easy.
  2. A high end freedom, it’s your own house: Stay however you like. As mentioned above, as row houses contain their own privacy, its not hard to maintain a distance from the hotchpotch pedestrian life outside. Be yourself, develop the house yourself. It’s yours.
  3. Let your imaginations flow, design it yourself: Do not have to go to the contractor and speak about extensions. Don’t bug his mind and discuss about approvals. It’s your space, work on it yourself. Not only will your experience increase, designing a house of it’s own helps in the enhancement of your own self confidence.
  4. Do not have to let the builders know about the future modifications of the exteriors: After the overall construction is done, the house belongs to yours. Whatever you do with the space within your boundaries, no one is going to bat an eyelid.
  5. Space for greenhouse: Construct a greenhouse. Not only does that help the environment, but it gives yourself a state of tranquility when you’re surrounded with greens.
  6. Gardening: It’s your piece of land, extend it with trees and shrubs and plants. Grow them, helping to reduce the greenhouse gases and global warming has no negative effects!
  7. Expanding of space as per requirements: Be it to the sides, or above, row houses are always a better option to go for, than flats. A free space to your left, want a wooden porch? Go ahead. No one is going to bother you with that.
  8. Increasing the storey: As I said earlier, you don’t have to contract your contractor for increasing your own space, if it is done legally, of course. On the other hand, in apartments, it is impossible to do so.

Though there might be concerns about the loose security of the house or joining external clubs such as gyms and sports facilities, choosing a row house over an apartment should be highly recommended because of their huge advantages.

8 Habits You must Inculcate to Remain Productive Throughout the Day!

8 Habits You must Inculcate to Remain Productive Throughout the DayThe world now is more like a rat-race where everyone is racing after a single goal of money. Keeping aside their emotions, their health and everything that should be important in their lives.  This does more harm than good. The everyday jumps and runs tire the body out and the weekends aren’t enough to recharge. Thus after a good start, we tend to fall back. This is when we realized that we are tired more than we thought we are. And a setback will affect both the job, and our mind’s peace.

Therefore, we should make plans to be our best everyday. That is, not leaving out the important issues of health and hygiene. We need to be upright always, trying to solve matters with both sheer strength and tactics. Various methods to remain productive and make everyday fruitful are as follows:

  1. Have Enough Sleep: The biggest aim you should carry out is getting enough amounts of sleep. An adult requires about 8 decent hours of sleep. Staying tired throughout the day will not help you enjoy anything you do, keeping you moody and irritated. Concentration will lack in a huge amount if you do not follow this point.
  2. Early to Bed, Early to Rise: Our body metabolism is created in such a way that going off to sleep by 9pm and waking up after 8 hours, with a fresh mind and body will keep the rates high, burn the excess fats and keep you healthy. A fit body is a great temple for the soul to reside in.
  3. Heavy Breakfast: A wholesome breakfast is not a luxury but a necessity. After a good night rest, a hearty breakfast will give you enough energy to work throughout the day. Getting light lunches and dinners should be made common.
  4. Yoga or Exercise: A heavy body is lazy enough not to move around. Strolling down through everyday’s work get them more tiring. Keep you body fit. Join yoga classes or gyms. This will keep you mind at peace too.
  5. Previous Night Planning: Reminders are healthy. Setting up jobs what you plan to do next day, too. This will create no hotchpotch for reaching the ultimate goal.
  6. A big no to Distractions: Going for late night parties, everyday. Drinking. Gambling. Drug usage. Every sort of addiction should be avoided. They distract your mind for no good.
  7. Know Your Goals: The best way not to over commit is to know your limits. Set your goals high, but not at an impossible range. Allot particular chores everyday so that you can finish your work on time.
  8. Recreations: Taking a weekend off from the daily chores to go hiking or short trips should be encouraged. The monotonous pace will keep you mind at peace too.

Following these habits should be easy. Conveying these points to others will keep you all in the same niche, thus attaining distractions will be harder.

8 Ways of Appreciating Your Employees!

Appreciate Your Employees
Employee appreciates by the team.

Workplace can be a tiring battlefield. The environment one is made to work in can be both physical and other human factors. Not only can the office temperature be regulated by the air conditioning system, but also the temperament of your co-workers can be an aspect.
One should always maintain healthy relationships with the people he is dealing with. Time, management, decisions and appreciations should be a part of their everyday job chores. You should always learn to enhance your rapport that not only makes you a better co-worker but also keeps your mood lit in such a hasty surrounding.

Some of the basic ways in which you can appreciate your employees are as follows:

  1. Verbal Thank You- You can always appreciate your co-worker without any spend of money. A small amount of energy can always be used up for saying a “thank you”. Sometimes, small phrases as such, “good job”,”amazing effort” or “you’re improving” is enough to make someone’s day.
  2. Pointing out the best in them- Everyone consists of positives and negatives. Presenting out the positive in one, can be difficult. You, as a co-worker, can always help to bring out the finest in them. Welcoming them, tipping their recent paperwork with heart warming gestures will always make you a fine person to hang out with.
  3. Lunch Time Gossips- We all need chitchat once in a while. Working throughout the day is always tiring. Chatting about politics, sports or other such recreational topics are refreshing. Going to get some coffee or getting those papers Xeroxed? Why not ask your next cabin employee to tag along with you with his paperwork too?
  4. A bendable work schedule- Adjusting the calendar according to the work pressure or a flexible schedule that can both finish the job within the timeframe and coordinate with his personal life is highly valued.
  5. Gifts and Gestures- Personalized gifts during birthdays or colleague’s marriage ceremony is a symbol for both appreciation of his work in his career and personal life.
  6. Munching- Food is something welcomed by all. If you’re leaving your seat to grab a doughnut from the bakery, why not get some more for your partners at work? I’m sure they won’t return the delicacies.
  7. Traditional gatherings every year, once at least- Going out on picnics and gatherings in a pleasant weather is both euphoric from the daily chores and also refreshing.
  8. Provision of Opportunities- Once in a while, we all need to stand above the rest. Giving someone the platform to do so is a huge task in itself. Leaving a particular project to someone else, who you think is viable enough to impose a proper respect for the job, is highly thankful.  

Letting your colleagues know how much they mean to you not only in the workspace but also personally in any day of the year can be a huge boost throughout the whole job experience. Small tokens of appreciation and surprises, makes them feel loved and valued.

How does the CIBIL Score Affects Your Credibility?

Credit Score and Magnifying Glass

Thinking of buying a house or a car? The mere thought of applying for the loan is enough to induce stress as in spite of having all the required documents; there’s always a chance of your loan application getting rejected.

It’s true that we can’t provide any guarantee for your loan application acceptance but we can certainly offer you an insight on one of the fundamental component that defines your credibility- CBIL score.

What is a CIBIL Score?

CIBIL (Credit Bureau India Limited) score is a three digit score that plays a pivotal role in determining your credibility. Derived from CIR (Credit Information Report), your CBIL score is determined by taking your entire credit history in consideration. In simple terms, CIBIL score helps the lender to know whether you are capable enough to repay the loan.

How will the CIBIL score influence my loan application?

As the CIBIL score forms the authentic source to reflect your credibility, whenever a lender receives your loan application he refers to your credit score. A score of less than 300 can increase the chances of loan rejection whereas a score between 300-600 or above 900 can process your application to the next level.

Post your credit score check, a review of your recent credit purchases, payment history, outstanding payments, earlier loan repayment durations, etc., is undertaken. Although sanctioning of loan is subjective in nature, the component of CIBIL score certainly influences the decision of concerned money lending institutions.

How do you manage your CIBIL score?

If your CIBIL score is less than 300, here’s how you can improve your CIBIL score:

  • Avoid overuse of credit: Use your credit facility only when you actually need it, as over exploitation of credit simply creates a false impression on your lender.
  • Clear your dues: Ensure that you act responsibly and clear all your outstanding EMIs and bills on time as the timely clearance of your bill will reflect a healthy loan repaying capacity.
  • Periodic check: Through a periodic review of your CIR (Credit Information Report), you can always rectify your errors in case of any.
  • Manage your accounts: It is advisable to have only one or at the most two accounts, as the presence of multiple accounts often makes it difficult for efficient management.
  • Seek help: If you are finding it difficult to manage your CIBIL score than always seek professional help as that would simplify your credit management.

Having said that always remember that CIBIL score affects your credibility but it’s not the only factor to affect your credibility. Often there have been instances wherein in spite of having a good CIBIL score, the loan applications have been rejected by banks. Also, this does not mean you neglect your CIBIL score, especially when you are applying for a loan.

Besides, having a healthy CIBIL score can also bring in an advantage of low interest rate from your lender, so next time before you apply for a loan always check your CIBIL score to avoid any unforeseen surprises.

Things to Consider While Giving Your Flat on Rent

When we successfully buy more than one property a lot of us try to rent it out. Renting your place brings, in extra money and additionally, it also brings the place to use. Even though this looks like a simple ride, there are ample of things that you must take care of when renting a house to others.

Here is the checklist –

  1. Preparing the Agreement – Agreements shields you against unwelcomed disputes. You can even take the help of your legal advisor when it comes to preparation of the agreement. Without agreement do not even try to rent out your house. Also, ensure that you are inculcating every vital point in the agreement with the terms clarified and well defined.
  1. Background Check – Background check of the person whom you are going to keep as a tenant is significant. Go for the police verification. You should collect the photocopy of all the necessary documents of the tenant. Do not overlook this matter at all. For your own safety, it is vital that you take the troubles of getting the background checked.
  1. Necessary Details – It is your responsibility to disclose the charges that you would include in the rent. In case you wish to divide the electricity bill into halves rather than including it in the rent then make sure that you disclose it to the tenant. Transparency holds a greater importance between both the parties.
  1. Rent and Deposit – As the market is getting competitive, it is best that you do your research well in time. Decide upon the rent at the same time the deposit. Some renters take 5 months deposit amount while some take 1-year deposit. The choice is, however, yours.
  1. Notice Period – Deciding upon the notice period in advance is also important. In order to avoid any inconvenience in later stages, it is best that you decide it in advance. It is best to keep the notice period of 30-60 days. This notice period is the period that you would give to your tenant to search for another place before vacating this house.
  1. Tenure – Post the decision of rent and deposit amount, you got to decide the tenure. Some owners choose the period of one year while some agree for 5 years. It is however suggested that you must decide the tenure of one year and keep renewing the agreement annually.

It is best that you do a thorough background check of your tenants. A lot of owners do not prefer keeping unmarried couples as their tenants however if their character certificate and police verification are in place then there is no harm in renting the house to them. Make sure that even if the tenant looks good you do go through all the required documents.

Buying a New Home? – Here is What You Must Consider

Buying New Home - NL BuildersWhether it is either your curiosity that has brought you here or perhaps you are looking for a house, this one is worth your attention. Buying a house is one of the several milestones we wish to achieve in life. Who wouldn’t like to curl up in a cosy corner of the home which you would call “Yours” by every possible means?

While we understand the excitement and glory in buying a brand new house. It is also a matter of complete caution. Here are a few things you must consider before buying a house.

  1. Sale, Resale – Ready to move or Under Construction – You need to decide whether you wish to buy a brand new home or a resale one. Resale houses are relatively cheaper and a lot of families prefer resale ones. Additionally, also decide if you are ready to move immediately or you have another 2-3 years. If you choose and under construction, house makes sure you talk about the date of completion with the builders.
  2. Research and Read – when the internet welcomes you with heaps of information you must research well. Figure out various ways of cost cutting and make sure you find loops to negotiate. Also, be extra cautious while reading the agreement or any document related to a home purchase.
  3. Consider your Affordability – It is essential to beforehand calculate how you can really afford. Don’t merely look at the cost of the home without considering other expenses. Carefully analyzing the budget and sticking to it would let take decisions from the head instead of the heart.
  4. Check Legalities – As a citizen, you must be well versed with the legalities. Do not involve yourself in any land/house that is legally disputed. Also, make sure that you go to a trusted and registered builder. There are a number of times when the people get trapped between a disputed lands and realize it only after signing the contract. Subsequently, ensure that the builder you have chosen is reliable.
  5. Infrastructure Plans – Apart from going through the connectivity of the house with rest of the cities also check the infrastructure plans. If there is an upcoming development coming in the vicinity, there are chances that your future returns on the house would increase.
  6. Draw your Pace – Do not hassle unnecessarily and it is not advisable to work on the deadlines while choosing a home. This process would take longer than you think. Hence, be patience and give yourself ample of time. Getting it done at your pace give you time to think rationally.
  7. Verify the Builder – Track record of the builder, better to pay a premium to a builder with a good track record and brand image then deal with a fly by night operator.

Buying a home is indeed a tedious task but we are sure that you are prepared for it. We wish you all the best. We wish you a very happy home finding!