Importance Of Owning An Apartment

Getting a place to live  which would be yours forever is a great thing, people save lot to be in their own house and when they finally get it, they feel too happy about it. It’s not an easy thing to shift in a new place just at once, a lot of thing need to be thought about. Your address changes, a lot of other things changes as well, you have to get your gas connection shifted and a lot more. People want to get the best, getting an individual bungalow isn’t in reach of every other person. Every person has different priorities and bank balances. So it’s different every time. So now days people prefer to move to apartments rather than individual bungalows. Moving to apartments rather than individual houses has its own advantages.

Location
Location of your house is very important, either you live in an apartment or an individual house, it does matter a lot. Nobody would want to live in a place where crime is highly present, it’s the biggest threat to one’s security.The price of the building is highly affected by the location factor. Better would be the location, higher would be the price of the apartments in the particular complex. It’s easier for a person to live in his desired place if he looks forward to buying an apartment, whereas if they are looking forward to buy an individual house then it might get difficult.

No Repairs

WE all want a house which is in a good structure and remain in that way forever. Even if you are shifting somewhere as tenants and not buying the place, then also you would have a lot of things to do. A lot of money is spent on it especially if you are living in an individual house. Whereas if you live in an apartment, the cost spends would absolutely be less and usually it’s the duty of the landlord to keep everything in a working condition, he will give you the place only after he has made things alright. So you don’t need not to worry about the seepage problems in the bathroom and kitchen. Apartments should be the discount period like 4 bhk Apartments in Dehradun for sale.

Security
Security is another quite important aspect to be cautious about when you are choosing an apartment to live in. Sometimes even if the location of the individual house is good, criminals won’t think before coming to attack your house. Whereas if you are living in a complex then this thing won’t happen as there are ample security guards taking care of the complex 24/7. One can roam around in the complex, even in the late evenings. Your children would also be kept safe.

Other amenities
Things like swimming pool and gymnasium are desired by a lot of families rather every family in their homes, but that’s not possible as their installation needs a lot of space and money. People should definitely buy flats apartments in festivals like Residential Flats and Apartments in Dehradun for sale.

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How to Apply for a loan to buy your dream 2 BHK

Buying a property tops everybody’s life goals. Today, financial institution are our best friends when it comes to fulfilling the goals since the real estate prices are soaring so high that it is inevitable that one can buy a property without any financial assistance. This has also been made easy because of the ease of getting a loan from the banks.

But there are several factors that one needs to consider before applying for a loan:

• Loan eligibility – Once you are done zeroing in on the property that you are interested in buying, evaluate your financial standing. Look through your bank accounts and decide how much can you spare for monthly EMI and whether you hold enough balance for the loan to be cleared. Typically, banks allow a loan of 80% of the property cost. Also remember, you should not bite more than you can chew, meaning don’t sign up for EMIs higher than what you can afford, you should ideally go in for an EMI that is 50% or less than your monthly salary for you to lead a carefree life.
• Choose the lender – You can apply for a property loan to multiple banks and need not stick to only the one that you hold an account in. This helps in giving competitive interest rates and lets you take a pick depending on the terms and conditions involved. Look for other important aspects like customer service, penalties in case of premature termination of the loan and others.

You could also go in for a smart loan –prepaying a chunk of the loan to reduce interest or alternatively increasing the EMI to shorten the loan duration.

• Credit score matters – It is always advisable to check with CIBIL (Credit Information Bureau (India) Limited) to ascertain your credit score which is simply a score to determine your chances of getting credit from a financial institution. For this purpose, you need to furnish past details of bank statements, loan details, and credit card payments. Together the CIBIL score, net salary and EMIs paid towards existing loans determine your repayment capacity. Better the CIBIL score, better are your chances of getting mortgage loan approved.
• Interest rate – Decide whether you wish to go in for fixed rate interest rate or a floating one. While the former means that the EMI remains the same throughout the tenure, the latter implies that the EMI can be adjusted with a change in interest rate.
• Loan tenure – Loan tenure is inversely related to the loan tenure. The longer the loan tenure, the lower is the EMI and vice versa. There are financial incumbencies in both the case; the former provides ease of payment over a period of time while the latter implies lesser final amount to be paid.
• The finer details – Simply signing the loan agreement with the bank won’t do, you need to be aware of the terms and conditions and other fine print details. Always confirm the additional costs like service, administrative, and processing fees with the bank as these form an important component of the loan amount.

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