Everyone dreams of owning a house that is unique. It is fact that each home has its own quirks and corners. Now, as yourself what do you think of your dream home? The answer will vary from individual to individual. While we tend to furnish our home to make it more personal, however, there are some underlying common themes running across all homes. After all, you have to match up to your neighbour or stay near your relatives or you want to be close to the shopping areas or close to the airport or a metro station.
Let’s see what are common among dream homes that people aspire for:
In today’s traffic-filled roads commuting is an arduous task that you can avoid if you can help it. So, you tend to find a home in a locality that is in close proximity to all your daily needs – schools, shopping, religious places, entertainment centres, metro station and the like. Perhaps, if you are a young couple with growing kids, then schooling becomes an important factor and you tend to locate your home nearer the school you want your children to go.
Thus, good location satisfying several requirements is a common theme for many dream homes. Besides, homes in a good locality rise in value and can give you handsome returns if and when you want to sell it in the distant future.
Sometimes, the locality you want may cost you more. If you really like the place and are open to borrowing the extra fund, a home loan can be the answer.
Everyone has a concept of what spaciousness means for them. A space for you and your children, for some it may be a home office, for others a guest room or two for visiting family and friends. There are also those who want a backyard for gardening or a clubhouse. Whatever your needs are space is a common theme and you will decide on a home based on the space you and your family would need.
While for many, these tend to be pre-requisites, some incorporate these changes during renovation as well. If you are planning on creating a special space for yourself, talk to financial institutions like Tata Capital that provide housing loans for renovation as well.
Quality of construction
Many times you tend to get carried away by some innovative streak to build a home that is unconventional and futuristic. However, you have to remember that your home is for the future and you want the home to last longer and so you have to ensure a high quality of construction. Of course, you can be innovatively provided you maintain the basic quality of construction. You can include quality of fittings here too. Your bathrooms fittings, flooring, façade, kitchen cabinets and wardrobes must all be of the best quality of materials to last longer.
Thus, quality of construction of the home that you build or the built home that you buy is a common factor and you will do well to go with the common flow.
In today’s Internet age, smart homes are very convenient and useful to possess. The Internet of Things (IoT) is a network that connects a variety of physical devices including home appliances, vehicles and other devices hosting electronics in them. Smart homes are a part of IoT.
They can help to conserve energy by controlling lighting, heating and air-conditioning. They increase factor of safety and security exponentially. They are more comfortable to live in. They can cater to the requirements of individual family members in the home as well.
If you are keen on making your home a Smart Home, you will have to be ready to bear the cost as well. While these electronics come with a much higher price tag, you need not compromise on quality. While availing a home loan, do budget for this aspect as well. Your housing loan can help you find the best things in the market that can make your home a dream home.
Due Diligence and Smart Contracts
The legal process related to owning homes in India will undergo changes due to the introduction of blockchain technology which will ensure more transparency in the due diligence process. However, until this technology reaches an acceptable threshold you have to ensure the authenticity of the purchase of your home using the available means today. If you don’t, then you will face unwanted complications in setting your land and home records straight.
Thus, due diligence is a common feature of any home buying process.
Choice of Lender
Buying a home is a huge investment for you. You have to ensure the availability of funds to buy a home of your choosing. Most of you would often find a resource crunch and you would opt for availing a housing loan. You would want to choose a reliable lender such as Tata Capital to finance your homes, fully or partially, based on your creditworthiness.
Before you apply, check your eligibility for availing a home loan. You will need a CIBIL score while applying as this gives financial institutions more confidence on your repayment as well. Once you understand your eligibility, with a home loan calculator, you can check your EMI with the interest rate for your home loan.
These financial institutions like Tata Capital offer a home loan with various features including a simple application process, higher loan eligibility, competitive interest rates, balance transfer, home loan EMI calculator and choice of EMIs and tenures.
These are the common things that most of us look for while buying a house. However, in the end, your house becomes your home because of you and your family. Finding the right place, with the right space and amenities is just the start and with the right home loan, you can get to building your dream home.