Top 6 Signs that You are Ready to Buy a House

Homeownership has always been considered as a big step towards your growth graph. But it is impossible for buyers to decide the right time to take that step. How will you contemplate that now this is a perfect time and you are ready to invest in a house? 

Let’s have a look at those signs which will assure you that you are now ready to buy a house.

Owning a house can be put on two opposite scales of the spectrum, one side tilts on the early side and the other on the late side owning to many reasons, if you are planning to buy a home very early then it can be done only on the basis of mortgage and of course, if you are a late buyer then you must have enough savings to buy a home direct.  

1. Debt-free Accounts

The first and foremost important aspect which needs to be considered, your debt should be under control. Rather it should reflect as you are almost debt-free from all existing loans. There is a term called DTI ratio (Debt to Income Ratio).

 (Total monthly payments ÷ monthly income) x 100 = DTI 

As per the real estate consultant advice, If your DTI range is less than or equal to 36% to 45%, then this can be the right time for you to purchase a house.

2. Ready with Down Payment

Real estate experts always advise that you should have about 20% of the purchase value of your house saved for a down payment. As per directions of the RBI, banks, and NBFCs are supposed to grant only 80% of the property value as a loan, and the rest 20% has to be arranged by the borrower.

It is advisable to have a diversified income source apart from the monthly salary. So that even after paying the down payment you are having sufficient funds that can be used for emergencies.

3. Good Credit Score

Having a good credit score will definitely impact your home loan interest rate. A credit score between 750 and 900 is considered very good. The closer your score is to 900, the faster your loan gets approved. A credible score provides multiple benefits for the loan acquisition such as maximum loan amount, offers in interest rates, and longer duration, etc. 

As per the expert advice, if your credit score is below 650 then you have to improve it before applying for a home loan. And congratulations are in order, if you have maintained your score well, you are one more step closer to buying a house.

4. Not Planning Bigger Expenses in the Future

Did you confirm the decision of buying a house then for a stable balance in the finance, make sure you do not plan any bigger expenses in the coming future? If not you will surely end with some conflicts in managing your accounts. You should be quite stable in your lifestyle so that you can take your house buying decision.

5. Fix Job with Stable Location

Don’t have a stable career? Still, Looking for a stable job? Think you might want to move to a new city? You might not be ready to buy a home. Make sure you are with a fixed-job and stable location for at least 5-6 years then you can think about buying a new house.

6. Tired of Rental Houses? You are ready to buy a house 

I think this might be the main reason why everyone thinks about having their own house. After spending lots of money and time in rental houses, at one point, you will be tired of rental houses and this is one more sign that you are ready to buy a house. If you have checked all points mentioned above, then let’s go ahead and do it.

It is a very proud feeling of buying your own house so you should be mentally as well as financially ready. Keep all points in your mind and then make your final decisions.

In this situation, real estate consultants play a very important role, as per the market trend and research they can add more possibilities for confirming your decision.

Reach out to our real estate experts and clear your all doubts. Call: +91 96202 46980

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Where to buy agricultural land in Bangalore?

The real estate investment in the present time needs a different strategic approach than purchasing a property for personal use. And investment in agricultural land in Bangalore is one of the best decisions which will give good outcomes in every situation.

Even like current pandemics, agricultural lands can be a good option for investment.

Before investing in agricultural lands let’s learn more about the same. Here you will clear all your doubts regarding agricultural lands.

• Who is eligible for buying agricultural land?
• Why should one invest in agricultural lands?
• Where should one buy agricultural lands in Bangalore?
• How ownerstown will help you to get the best deals?

Who is eligible for buying agricultural land in Bangalore?

Earlier in Karnataka, there was a restriction for buying agricultural lands that only registered farmers or those from farming families can buy agricultural land. 

But recently the Karnataka government has updated rules for the same.

• Latest Amendment through the Karnataka Land Reforms (Amendment) Ordinance 2020 – has deleted Section 79A (Section 79A – If the aggregate income of all the members of a family or a joint family from sources other than agricultural land is more than Rs.25,00,000 per year, they are prohibited to purchase the land.) This means Income criteria are no more applicable. 
• Non-agriculturists without having any agricultural background by them/their family can purchase the Land in Karnataka.
• As per FEMA ( Foreign Exchange Management Act) Regulations, NRI/OCI/Foreigners are not allowed to buy agricultural / farmhouse property. Only Indian Residents can purchase agricultural land.

Why should one invest in agricultural land?

• Agricultural land is a type of investment where the investor will be investing at the lowest risk and value increases over the long term. 
• The income earned through agriculture is free from income tax. (According to Section 10(1) of the Income Tax Act, agricultural income is not considered a means of income)
• When you own farmland, you have several options for making a profit. The most common is nothing but growing and selling your own crops. An alternative to this would be leasing the farmland.

Where to buy agricultural land in Bangalore?

In real estate, investment in Bangalore itself is the best decision. In the case of agricultural lands, there are some places outside Bangalore that can be considered and recommended by real estate experts.

North Bangalore

• Devanhalli
• Hoskote
• Yalahanka
• Anekal
• Nelamanagala

South Bangalore

• Chitradurga
• Kanakapura
• Basavangudi
• Jangamkote

These are the places where an investor should think before taking any decision. There might be some legal hassles and all that you should clear before making deals for that we always recommend a background check from exports.

How will Ownerstown help you to get the best deals?

OwnersTown experts are always there with up to date market analysis. Once you finalized investing in real estate then the rest of things will be taken care of by our experts. 

Hope you are now ready to buy agricultural land without any doubts. For any doubts or further clarification comment down your query or simply contact us.

Where to Buy a Luxury Villa in Bangalore?

Luxury Villas are the most sought-after options if you are planning to invest in real estate. On the other hand, if you are really willing to buy a Luxury villa in Bangalore, you need to accelerate and step up your hunting for the right place and property.

Luxury Villas are without a doubt the most wanted place for elite people, probably to spend quality time with family on weekends. These Luxury Villas are dedicatedly constructed for the people of the upper class.

Luxury Villas have great benefits like you get to live in an independent home with all the luxuries you need, privacy, and most importantly, Security. Even if you leave it for any kind of rent or lease, you are going to get a great income once in every while.

Why buy a Luxury Villa Exactly?

Luxury Villas are a way for elite people to show their way of living. Obviously, Bangalore is one of the biggest metropolitan cities in India, and people here from the upper-middle-class turn into the elite or upper class. This automatically pushes them to buy luxury villas in Bangalore. Also, not to forget, Bangalore has some best places just defined to construct luxury villas.

Bangalore has always been a comfortable space for people living here too with so much work all week, they deserve to rest in a comfortable and cozy place. This could be the reason why Bangalore has seen such a great demand for Villas in recent times.

 

 

Various Builders across the city design the best Villas that attract potential clients in and around Bangalore. Advanced Quality in construction and technology is what makes the Luxury Villas more attractive. Isn’t it a blessing to live in Bangalore’s one of the finest bungalows? While not everyone can experience it, let’s see some of the advantages of living in a luxury villa.

 

 

Advantages of a Luxury Villa

1. Personalization of Villas
2. Privacy & Security in the Luxury Villa
3. Location of the Luxury Villa
4. The Increasing Value of the Villas
5. You know the better lifestyle that comes along with Luxury Villas
6. Huge Returns if you are owning one

If you need to buy Luxury Villas in Bangalore, you need to make sure everything is perfect. Let’s go on a quick tour of the advantages of a Luxury Villa,

Personalization of Villas:

The Luxury Villa and the Look of the Luxury Villa, it’s interiors and everything will portray the buyer of the Luxury Villa. It just has to reflect your personality.

Customization of the landscape, exteriors, and interiors of the villa to have very particular aesthetic appeal, individuality, uniqueness.

Personalization is what will be of great help to you in case if you buy Luxury Villas in Bangalore.

Privacy & Security in the Luxury Villa:

You should care about the Privacy and Security of the Villa. Security should be properly checked and scanned (Just in Case). Privacy and security for a person living in a Luxury Villa are very important and could be the reason why you should choose Luxury Villas over anything.

The gated Villas assures safety and security 24/7. It also offers more comfort and a pleasant stay for people residing there in the Luxury Villa.

Location of the Luxury Villa:

After all that, Location is very important to take chances for. You need to know where you are going to buy your Luxury Villa in Bangalore. You need to find a location that is an apt fit for the Luxury Villa and you.

Because there is no use in buying a Luxurious Villa in Bangalore but in the wrong location. Make sure to have all the grocery shops, hospitals, schools, colleges, etc., are nearby.

Also, you know about Bangalore Traffic, you can hit it off only if you plan all these before buying Luxury Villas in Bangalore. It’s like the villa should be inside the city but also not in the city!

You got to choose wisely.

The Increasing Value of the Villas:

With circumstances changing and there is nothing like Investing in a Luxury property. Since Luxury Villas are in demand, the value of the Luxury Villas keeps increasing.

You know the better lifestyle that comes along with Luxury Villas:

Luxury Villas tend to have luxuries right? They have great amenities like a gym, park, lawns, personalized porticos, swimming pool, running track, outdoor gaming area, etc.,

Moreover, you get to live in a place with people with exactly your mindset.

Huge Returns if you are owning one:

Buying Luxury Villas in Bangalore comes with great returns with an option of investment. You can invest in Luxury Villas and it gives you the highest returns possible. You know about the real estate market and how great of a pick is your villa.

Personally, we feel buying a Luxury Villa in Bangalore is a great option for you to live safe, sound, and comfortable in today’s environment.

Best Areas in Bangalore to Buy Luxury Villa:

You just can’t go buy Luxury Villas in Bangalore anywhere you think. Bangalore is a wide place. You need to carefully screen the Luxury Villas for your liking. The Location should be fair enough for a Luxury Villa and investing there should have a scope, at least in the future.

Some great places to buy luxury villas in Bangalore,

• Yelahanka
• Whitefield
• Devanahalli
• JP Nagar
• Indira Nagar
• Sarjapura
• Koramangala
• Richmond Town

These are the best places to buy Luxury Villas in Bangalore. They sure will be worth buying and living there, considering all the amenities and values.

Advantages of Buying a Luxury Villa:

• You get to experience the best of luxuries that you can’t get in a normal household
• You have your complete privacy
• The bigger the better types (Great living spaces)
• Calm surroundings
• You can personalize anything you need.

Disadvantages of buying a Luxury Villa:

• Big investment, big risk
• You may need to put more money in care for the security purposes
• The location could be a problem. Villas usually require a lot of space and peace. So many of them are constructed outside the City.

Closing Points:

Buying a Luxury Villa in Bangalore is a hell of a lot of risks but worth it. You will be investing so much money in this. But with everything that’s happening and the increasing values of the Luxury Villa ultimately makes buying Luxury Villas in Bangalore a great idea.

Here’s everything you need to know about Luxury Villas in Bangalore, the most Sought-after places in Bangalore for Luxury Villas, Advantages, Disadvantages of the Luxury Villa for your greatest of help.

We hope whatever we mentioned in the blog, we thought we may help and hope it is helpful to you!