Love Break-up!!! Because of Savings!!! Are you saving to buy a new home?

Naveen and Neha are a perfect match and an understanding couple. Naveen has a plan for everything in life. Neha is a cheerful and practical woman. Both of them discuss and get things done. So what made their ways apart? I should tell this.

Neha wants to visit a good restaurant and have great food. Naveen says ‘no’.

Neha wants to get away from her daily schedule and go for a vacation. Naveen says ‘no’.

Neha’s birthday time!!, Naveen got a card for her. She is happy, he had given her a card atleast. 

 Finally, Neha asks Naveen. “We earn well. We can spend though not for a luxurious life but for a relaxing and comfortable life. But why do you always say ‘no’ for anything that makes me feel happy?”

Naveen  now opens up. He has a dream house and he wants to buy it. 

So what is he doing? Yes. Saving saving saving.

Saving, forgoing the comforts and the feel good factors too??

with and without home loan savings example and loan calculator
With and Without homeloan. Know more with real example and calculations
Yes. He wants to save not just for the down payment of the home, but for the whole value of the property. So how does he save?
Let us see how it works without a homeloan

Age : 26 years

Salary : Rs.40,000

Expenditure : Rs.15,000

Savings : Rs.25,000

His dream home value : Rs. 40 lakhs.

On an average per year he saves : Rs. 3 lakhs

No. of years he should save : 14 years.

In the mean time the property’s value increases which means he has to save even he reaches his limit. Ofcourse, his salary increases and he can save more. If you observe in the example, he saves more than half of his salary. Without even fulfilling smallest of his desires. When will he explore life if not at the age of 20s and 30s.

So, Neha asks him to go for a home loan. He rejects. She tries to explain.

So, is it that you should not go for saving at all if you buy a home? No, save for the down payment and for the rest go for a home loan.

Let’s see how it works with a homeloan.

Age : 26 years

Salary : Rs. 40,000

Expenditure : Rs. 18,000

Savings : Rs. 22,000

His dream home value : Rs. 40 Lakhs

No.of years he saved : 2 years

Amount saved : Rs. 8 lakhs. (used for down payment) 

Home loan amount : Rs. 32 Lakhs

Salary after 2 years : Rs. 60,000

EMI Fixed : Rs. 32,000

Now, at the age of 28 years, he is enjoying in his own dream home. Since, EMI is fixed, he need not think of saving for a home when his salary increases. He can invest and diversify his extra income, where he gets more returns.

Is that the end? No, you rather have to, monitor your homeloan via loanyantra, the synonym for loan management services. This helps you to put an end to your home loan faster.

Experts help will always work. So, seek help to pay your home loan faster. That is what exactly Loanyantra does for your homeloan

Ohh!! the love story above!! They didn’t breakup 🙂 Naveen understood Neha’s ideas and followed her. They lived happily ever after in their own home. 😉 

How can you have a break up if you listen to her?  😉

Major Points to Consider When Investing in Delhi

Investment in properties is like a mind- numbing decision, which shall be taken with utter care, and understanding. After all who wants to put in their hard earned money into a property where there can be even a slight chance of degradation? We are smart people of the current era and we should be looking into a variety of factors before banking in with a decision and when the decision revolves around choosing a property that is situated in Delhi, you just have to be smarter!

Know your city!

Delhi is a tricky city, being a capital and a fast developing market has given Delhi numerous chances to be a risky area of investment. With its wings spreading across Ghaziabad, Faridabad, Noida, Gurgaon, choosing the property in NCR can be very expensive and strenuous. It is good to have a thorough knowledge of the developing areas around Delhi and the central Delhi opportunities and create an understanding of the growing trend and demand of properties comparatively to understand the best deal. Delhi is not very low on space and it always welcomes new additions of technology and advancement; so make sure that the project has something new in technology for you.

What are the factors you should look into?

Before considering a property or project for your investing in Delhi, you should understand a few factors that shall be big time influencers in your decision making. They can be:

  • Location: It is the most important factor depending on the kind of property you want to invest in. If you are looking for a residential property make sure the area is well equipped with modern day amenities, is growing and surrounded by residential set-up and is safe too. However, if you are looking for office or plots, there is a need to understand the development probability, the investors and future viability of the same location properties.
  • Valuation: It is imperative to understand the future benefits associated with the property and calculate the correct value of the project before investing.
  • End use: What is the end use of your property should be calculated too to prevent from future mishaps. The property can be for resale or can be for keeping and building some property on it at a later stage in life.
  • Financial Planning: Do have a thorough check on the financial planning, you are doing for the purchase of the project and if it is that worth. The loan agreements and the clauses put up by the seller are important areas in financial planning.
  • Construction: Read everything associated with the property and find the future construction or work permissions as well as the law binding you with regards to usage of the property.

Trends

Properties are always evaluated with regards to the growth, development and the trends running for that area. Make sure you understand the history of the property and calculate the amount that has escalated over time. This might just be the right time to buy a property if the calculations say that the price of the property shall rise with a big margin in future (calculate the future). This can be easy to predict keeping in mind the constructions and upcoming projects in and around the property of interest.

To know more about the Home loans in Delhi click here..