7 Easy Ways to Transform Your Home

Searching for easy ways to spruce up your abode? Following are some ways to transform your home for less than 1000 bucks.

Turn Your TV Into Art: Newer television sets can easily display family portraits, vacation photos or your favorite scenery with the touch of a button. Just upload to the gallery, add music if desired and enjoy.

Paint It Up: Add a splash of color to a boring old chair or bring new life to a table with bold bright colors.

1-Expressive-Yellow-Painted-Furniture-Ideas

Sign Your Name: Decorations don’t need to be expensive. Use a template or vinyl letters to showcase your favorite quote. Simply select a blank spot on the wall or furniture to instantly apply a thoughtful expression to your daily life.

Stop to Smell the Roses: Bring a little of the outdoors inside with the creative use of flowers, grasses, leaves, pinecones or even rocks. They add interest and color to any décor.

Cover Up: Use old wrapping paper, string and ribbons to transform plain cardboard boxes into ultra-colorful organizers.

Soft Spots: Create soft spots with the help of a semitransparent scarf draped over a lamp, table or armchair. Use different colors to create ambiance.

Create Interest: Re-purpose old jewelry, buttons and other knickknacks by adding interest to throw pillows, pull strings or other ordinary items around the home. Sew on or thread together using ribbons and lace.

Home Loan Process For NRI’s

Owning a home is a dream for most of us and thanks to the diverse home loan schemes available to make that dream a reality. How is this different in case of Non- Resident Indians (NRI)? Is it equally easy for them to obtain a home loan and own the property of their choice? NRI home loans are now easily available in India, subject to fulfillment of certain conditions.

NRI Status:

Before getting into the details of a home loan for NRIs, it is essential to understand just who is a non-resident Indian. All banks and non-banking financial companies (NBFCs) go strictly by the definition of NRI as adopted by the Reserve Bank of India. Under the RBI definition, any citizen who holds a valid Indian passport and stays out of India for employment or business spending less than 182 days in India in one financial year is deemed as a NRI. So before applying for a home loan under NRI category, make sure you qualify for a NRI home loan keeping in view the minimum number of days to be spent away from India.

Here we take a look at what is required to avail this loan and how it differs from a normal loan taken by a resident Indian:

Eligibility and Documents required

An NRI should meet the criteria on minimum age and minimum years of work experience abroad. The criteria vary across institutions. In State Bank of India (SBI) the minimum age limit is 18 years and the number of years a NRI should have worked should be 2 years. But if you intend to take a loan from ICICI bank, then it is enough if you had worked for one year abroad, but your minimum age should be 25 years. If you are a self-employed, then you should have stayed abroad for at least 3 years.

http://akinabridalcouture.com.au/product/cupids-jewellery-ze167/ Paper work

For the documentation process, a copy of your passport, visa and employment related documents such as your three to six month salary slips, appointment letter, employment contract if any and address proof, are mandatory. These documents can be submitted to the overseas bank branch located the closest to you, in the country where you reside. The documents are then sent to the Indian branch for processing.

Loan tenure & Interest rates.

Earlier there were differences in the interest rate charged for a NRI home loan and for the ones offered to resident Indians. But now the rates are the same.

When it comes to loan tenure, institutions and banks like HDFC and SBI offer longer periods of 20 to 30 years – the same as offered to a resident Indian. But in some cases the loan tenure is restricted to 10 or 15 years.

Maximum Loan Available

While banks and non-banking financial companies are free to use their discretion in offering the maximum loan amount for NRI home loans, there is not much difference in deciding maximum amount of loan compared to Indian residents. Usually NRIs can expect a maximum loan amount ranging from 80-85 percent of the total market value of the property. There is however a difference in which banks or NBFCs calculate the maximum loan amount for NRIs.

Some banks use the gross monthly income of the NRI as a yardstick offering upto 40 times the gross monthly income as the maximum home loan amount. Other banks use net monthly income as their defining yardstick limiting a certain percentage of net monthly income as a deciding factor.

buy accutane cheap Features of NRI loans

  • Loan tenor restricted to 10-15 years in some cases
  • No difference in interest rate offered to residents and non-residents
  • Repayments made through NRE/NRO accounts
  • Loan repayment is eligible for tax exemption only if an additional taxable income earned from India

 

With references from State Bank Of India, HDFC & ICICI Bank loan eligibility segments.

10 Green Tips to Consider for Healthy Living

These days everything that matters have a green label to achieve. Going green isn’t beneficial only to the environment, but also saves our health and the green guys in our wallets. So what are the basic green things that we should take care of? Well, here’s a small list of what you can do in your day-to-day life. After all, it’s these small changes that an individual does that adds up to the big change in the environment.

http://oceanadesigns.net/images/granite/louise-blue/louise-blue.jpg Turn Appliances Off

When not using any electrical appliances, switch them off. Don’t leave the trimmer plugged in if you are not using them or don’t leave the phone charger in the socket. When you plug in appliances that you are not using, phantom energy is utilised that can cost you money. Also, you are wasting the earth’s resources needlessly, so turn off anything electric that you are not using.

Prevent Heat And Cold Leakage

This is a common problem at homes where proper insulation is not done to stop the heat or cold from escaping. Ensure there is proper insulation and cover to prevent leakages of heat, especially during the winter months. Energy leakage results in wastage and increasing costs so take necessary measurements to close your home to all types of leaks.

Energy Star Ratings on Appliances

When purchasing electrical appliances, make sure they have certified energy star ratings. Trusted brands and products will have a proper energy rating system that would show how effective they are in saving energy. Purchase only products that have these ratings so that you save on energy and costs.

Plant Trees

This is as simple as it can get. Just plant trees and plants in your apartment complexes or around your house. It is a really helpful way to make your place a better space. Planting trees and plants has its benefits, other than reducing the earth’s CO2. As we know, trees bring shade, but they also reduce the heat around our building, keeping our homes cool. Additionally, if your homes are attacked by insects at night, planting trees and plants will help reduce the invasion.

Use Homemade Cleaners

Stop using chemicals for cleaning your home, instead invest in green cleaning products that are biodegradable and non-toxic. Vinegar, for instance, is a good cleaning agent and is also harmless to the environment as well as for you. When you use homemade cleaners, you can store them in used containers, thus eliminating the need for new plastic containers that will add to the waste.

Intelligent Housekeeping

If you have a housekeeping staff in your apartment, talk to them and educate them on the need for green living. Instruct them on the usage of electrical appliances and management of waste and water and ensure they stick to green methods.

Ineffective Water Management

Water is, as we know, the most important resource we have so selective and careful usage is more a need than just a mandate. Store water in buckets and use them for daily chores instead of running the taps each time. While bathing, try and minimise the use of shower and use devices that would help you recycle your sink water for your toilet needs. Recycle water to use for watering plants and washing and cleaning.

Segregate Waste before disposing

This is an important factor that most of us do not give a second glance to. Waste is an inevitable output in our homes or apartment complexes, but the waste generated should be collected and segregated properly. Segregation of waste before disposing makes it much easier to recycle.

Usually waste is segregated into biodegradable and non-biodegradable. Biodegradable wastes include kitchen wastes, vegetables and fruits, garden wastes and other organic wastes. Non-biodegradable wastes are further broken down into recyclable wastes like paper and glass, toxic wastes like chemicals, medicines etc., soiled wastes like hospital wastes and E-wastes like CDs and DVDs.

Composting Facility

Install a composting system in your home or apartment so that waste can be managed effectively. Composting units are not very expensive and can be purchased and installed quite easily. They help in proper disposal of waste and the mulch or slurry got from the units can be used as fertilizers.

Celebrate Eco-Friendly Festivals

Conduct Eco-friendly festivals and gatherings to minimize pollution. Try not to burst crackers or if at all you do, try and minimize the amount of crackers. Ensure people don’t indulge in too much of burning plastic products and use green, organic or natural products for festivals.

 

via Common floor 

When is the best stage to buy?

If you have the required finances, ready-to-move-in is the ideal option for an enduser. This property would be significantly more expensive than at the launch stage but the buyer is protected against time and cost over-runs and also the EMI payment during the period when the house is under construction.

For an investor who wants regular rental returns from his property investment, a readyto- move-in property brings in immediate rental income which even helps pay back the loan secured to buy the property.

If you are a new investor with limited finances, look for an under-construction property with a suitable payment plan and keep a horizon of 2-3 years for possession. But make sure you go for a reputed builder.

When you purchase a house at the pre-launch or launch stage, the buyer pays small sums linked to the progress of construction but also has a longer wait period before the asset is liveable or starts paying for itself. This option is good in new and evolving growth areas on the peripheries of cities where infrastructure itself is under development and there is a wait period before it is liveable. Since, both infrastructure and housing are being developed at the same time, the user gets the advantage of moving in when both are ready. It also comes cheaper as property values are always lower when the infrastructure in the area is under development. The downside of this type of property is that possession will happen only after a minimum of 24-36 months. During this period you would have to shell out a monthly rental for the place of stay and the EMIs for the new property.

Inputs from MagicBricks.com

Factors you should keep in mind before getting a home loan.

The main criteria are:

  • Your income and your track record of repaying previous loans – this is obtained from the Credit Bureau.
  • Your current expenses including other loans you are servicing. The amount of loan related to the property value.
  • Ownership of the property – this means that the lending bank should be comfortable that the seller has full and complete ownership of the property.
  • Getting a loan depends on the report of the local bank surveyor who will inspect the property and give his recommendation.
  • Home loan eligibility depends on your ability to pay (ie. based on your salary) and not on the age of the building. However, the quantum of loan depends on age and undivided share too, in addition to your repayment ability.

How do you know that a project has legal approvals from authorities?

The best way is to check if the banks are funding the project. Generally, banks approve projects and start disbursement only after all the approvals are in place.

  • Ensure that the documents of Title of the property you intend to purchase are clear. A defective Title will create problems.
  • Ensure that the building has been constructed as per the sanctioned plan and deviation, if any, is in the allowed limits. It should not be in a low-lying area or in a filled-up water body.
  • Ensure that the developer has clearance certificates from the Electricity Board, Water and Sewage Board and other concerned departments.
  • Commencement Certificate and Occupancy Certificate are other important documents that are necessary while buying property. Check out the genuineness of the documents with the concerned authorities.
  • Ensure Agreement for Sale and Sale Deed, duly stamped, executed and registered are in your possession. Both should contain fair clauses for both the parties.

Things you should check at the time of signing the agreement?

Here are the important things to check before you sign the agreement with the developer:

    • Specific apartment allotted, tower number and size
    • Details of area including super area, covered area and carpet area
    • Costing
    • Date of possession, penalty in case of delay
    • Exit option
    • Specifications committed
    • Payment plan
    • Details of Land on which project is constructed and the project approval details
    • Possession related charges

How to choose the right property?

One should buy property in an area which has adequate basic amenities such as power, water, sewerage, etc. It is important to do your checks and balances while deciding on a project. Infrastructure in the area, connectivity, builder’s goodwill and price of the property are key components a buyer needs to take into consideration. A buyer should also carefully check points such as the builder’s experience, number of projects completed and delivered, banking institutions involved and present buy options available to suit your requirements. It is better you conduct a field survey before identifying a suitable property meeting your budget and location preference.

 

via MagicBricks