How to find a safe builder?

Thinking of buying your dream luxury flat in Kochi? Searching for a builder who is safe and reliable? You should have complete peace of mind that the right builders are doing the job for you.

How to find a safe builder for your home? Check this run-through from luxurykeralaflats.com, the best real estate portal to buy or sell flats in Kerala.

Proper Research
You should research options to find the ideal builder for your flat in Kerala. A good builder should be able to deliver the project on time and within the estimated budget. The best way will be by personal recommendation. Ask around with friends and family & get information about the quality of the builders’ workmanship, costs, reliability, time period to complete the job etc.

Reputation and background check
Popular online discussion forums are one of the best ways to thoroughly research any builder. You should be wary of any negative reviews of the builder. Further check out the websites of each builder to gain in-depth knowledge about their project details, past delivery record, financials, and more. Real estate portals like luxurykeralaflats.com can give you information on builders of luxury flats in Kochi.

Registration
One of the prime hallmarks of a credible builder is the registration with regulatory authorities like RERA & Confederation of Real Estate Developers Association of India (CREDAI). All details of the builder will be present on the State’s RERA website.

Project quality
You can get an idea of the quality of construction, the work standards, parking, amenities etc. by visiting the builder’s completed luxury flats in Kochi. If it is an already existing flat, you can get in touch with the Residents Welfare Association (RWA) of flats to get an in-depth account of the amenities provided by the builder.

Layout plan
It’s always good to thoroughly check the building Layout Approval certificate to understand if the builder is safe or not. The project should have got all approvals from the concerned authorities.

Delivery record
Check the delivery record of the builder to ensure if the builder is safe or not. Many reputed builders in Kerala have a delivery record of completing projects on time.

Transparency
A safe builder will be totally transparent regarding the covered area, super built-up area and total built up area. If the builder is not answering your queries, he probably should not be trusted.

Occupancy rates
Always check the occupancy rates in completed luxury flats in Kochi by well-known builders. Most safe builders will have a high occupancy rate to their credit.

The real estate portal luxurykeralaflats.com is your answer to the question how to find a safe builder? As the one hub under which the buyers and sellers can come together, it is indeed the easiest way through which both the parties can get in touch with each other. All the real estate dealings get a much transparent form with luxurykeralaflats.com. You get the best choices to buy or sell homes for the best prices.

Benefits of Buying a Home When You are Young

The real estate sector of today has seen a boom in the number of young millennials buying homes at a very young age! The increase in the number of youngsters buying homes can be attributed to many factors. Large pay-checks, availability of consumer-friendly loans, the desire to stop renting and easy access to information are only a few to mention.

Luxury Kerala Flats, best real estate portal in Kerala, list a few benefits of buying a home when you are young. 

Tax deduction for your income

Buying a home on a loan is the best way to get the most out of our income and avoid unnecessary taxes! It gives you tax exemptions under both Section 80C & 80EE of the Income Tax Act. The deductions can be claimed until the loan is completely paid off. 

Step- up facility and consumer–friendly loans

Nowadays, there are a number of schemes and loans that are consumer-friendly. Step-up EMI is a scheme where your loan EMI is proportional to the expected growth of your income. The EMI amount gradually increases, allowing a buyer to pay less EMI amount initially while still owning a house.

Make use of the fact that you are more eligible for a loan

Young people have fewer financial liabilities than older people & lenders consider this as an advantage. Being young you have a longer active work life ahead of you, giving you enough time to repay the loan. 

You can take your time to repay your loan

You are eligible for a longer repayment tenure when you take a loan when young. Your loan obligation over a longer period of time means your EMI will reduce, giving you the space for other financial commitments.

An additional income source

Giving your home on rent gives you rent, an extra income which would certainly help you improve your bank balance or help to pay off the EMI.

Low risk High Returns

With thorough research on flats for sale in Kerala or flats in Kerala by a reliable real estate portal like Luxury Kerala Flats, you can rest assured that your investment will be worth its value. As land prices are constantly increasing there is a large possibility that your money is not just safe, it also multiplies over a period of time.

A future asset

The value of the apartment for or a villa in Thrissur appreciates over time. Owning a house works as a future asset & you can sell it and use the income to both buy a new house and fund any financial crisis. Owning a house gives one a feeling of safety and security.

As many young people begin to earn their own money in their early 20s, it’s good to buy a home early. If you are looking to buy apartments for sale in Kerala or independent houses in villa projects in Kerala , contact us at Luxury Kerala Flats. Book now!

Things housing societies must know to fight Coronavirus

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It is the second wave of the pandemic, many people have been infected. Cases are increasing and there might be cases in your vicinity or flat complex also at the moment. But no need to panic! Here’re some important things housing societies must know to fight Coronavirus. This insight is brought to you by Luxury Kerala Flats, the prime real estate portal for buying, selling and renting flats in Kerala.

Recommendations

• If there is a suspected/sure case of coronavirus, make sure that the person is quarantined and outsiders (maids, drivers, delivery people, visitors) maintain a safe distance.
• An affected family should not be ostracised. It amounts to harassment and causes trauma. Remember we all are vulnerable to the virus. 
• Always help by giving provisions or any medical supply, to the family.  Don’t enter the premises, just leave it at their doorstep..
• Do keep in touch with the family by means of phone, WhatsApp etc.
• Keep ambulance services numbers handy
• Playgrounds with swings and slides should be closed temporarily so that children are not tempted to use these.
• Indoor sports areas, gyms, common yoga or meditation rooms should not be used frequently now.
• Avoid using clubhouses even if it is within your society.
• As much as possible avoid using common taps, public washrooms and toilets.
• Restrict use of lifts. If that is not possible, ensure that you are using a sanitiser immediately after use.
• Avoid crowding in lifts.
• Ensure that reception areas or lounges within apartment complexes are used only if necessary. 
• Make sure security and that the housekeeping staff wear masks.
• The housekeeping staff should be provided with proper gear & gloves while cleaning such areas.
• Proper disposal of waste should be strictly adhered to. The waste should be segregated into biodegradable, non-degradable and medical waste, 
• Medical and other waste from an infected person should not be dumped in open dumping grounds. Alert sanitation workers and secure the waste in multiple bags so that the workers do not come in contact with these. 
• Care to be taken while using or handling milk bags, elevator buttons, door knobs, door bells, newspapers, car doors, shoes, garden seats, grocery items, currency notes, ATMs, etc.
• Make hand-washes, masks, easily available for visitors and household helps.
• Do not assemble in large groups, postpone any celebration.
• Ask your local body to fumigate and disinfect your premises.
• Keep the elderly at home safe. If they are used to morning and evening walks, create alternatives for them at home to exercise so that their contact with outsiders is lesser.
• Educate the domestic helps, security guards, your grocery vendor, newspaper vendor, delivery boys, etc. about the importance of personal hygiene.

We at luxurykeralaflats.com, hope that this insight on things housing societies must know to fight Coronavirus has been informative to you. Check out flats for sale in Kerala at luxurykeralaflats.com. 

Maintain Social distancing and keep yourself safe!

What is debt-to-income (DTI) ratio?

So now you are all set to buy your new home – a flat in Kerala! You are already checking out flats for sale in Kerala and the main thing now is to figure out your financial situation. You decide you need a home loan and approach a bank or any other loan provider. That’s when the term debt-to-income (DTI) ratio becomes all the more important!

So, what is this debt-to-income (DTI) ratio?

DTI ratio is nothing but a personal finance measure that compares an individual’s monthly debt payment to their monthly gross income. The gross income is your pay before taxes and other deductions are taken out. The DTI ratio is the percentage of your gross monthly income that goes to paying your monthly debt payments.

While evaluating the financial fitness of the borrower, banks look at the applicant’s ability to pay off the additional debt burden, besides considering a good credit score. If the applicant has other liabilities like a student loan and an auto loan the credit score is rather low. 

Debt-to-income ratio is calculated by dividing the total monthly debt burdens like minimum credit card payments, auto loan, student loan and the like, by net monthly income. The ratio is best calculated on a monthly basis and it helps lenders to gauge how much additional debt can be handled by the applicant. 

Debt-To-Income Ratio Formula and Calculation

DTI = Gross Monthly Income / Total of Monthly Debt Payments

What does the DTI Ratio tell you?

A low debt-to-income (DTI) ratio means a good balance between debt and income. If your DTI ratio is 15%, that means that 15% of your monthly gross income goes to debt payments each month. On the other hand, a high DTI ratio may symbolise an individual has too much debt for the amount of income earned each month.

Generally, borrowers with low debt-to-income ratios are likely to manage their monthly debt payments effectively. Banks and financial credit providers prefer to see low DTI ratios before issuing loans as they want to ensure a borrower isn’t overextended. 

A DTI ratio of 43% is the highest DTI ratio a borrower can have and still get qualified for a mortgage. Preferably lower than 36%, with no more than 28% of that debt going towards paying off a mortgage or rent payment.

Debt-to-Income Ratio Limitations

The DTI ratio is not the only one financial ratio or metric used in making a credit decision by the lenders. Extending credit to a borrower depends on a borrower’s credit history as well as the credit score. Late payments, delinquencies, balances on credit cards relative to their credit limits, number of open credit accounts, or credit utilization usually weigh down the credit score quite heavily.

Now that you know what is debt-to-income (DTI) ratio, you can now be confident to apply for a home loan. Check out flats in Kerala at luxurykeralaflats.com. Get back to us to know more…

Friendly Furniture Pieces for a Comforting Home

Your flat is your haven of comfort and a dream come true! There’s no better way to improve your mood than an adequately furnished house! Comfort should be a huge factor when picking out furniture for your flats in Kerala. By selecting the right furniture, you can relax at home without a worry. Here is a list of some friendly furniture pieces for a comforting home that never go out of style! This insight is brought to you by luxurykeralaflats.com, the best portal to buy flats for sale in Kerala.

Sectional Sofas

The living room is where you spend so much of your time binge-watching your favorite shows and hanging out with your family. What better way to relax than a comfortable plush sofa with tons of space to sprawl out and cuddle up. Sleeper sofas are also available nowadays. With sectional sofas you can try out different arrangements to get the best fit. All you need is a nice warm blanket and some cushions to make your cozy corner complete! 

Armchairs

Armchairs have been soothing our worries away over the years. Overstuffed armchairs are good comfortable choices for the living room or family room. Recliner chairs with footrests are the ultimate in comfort! You can also use them as reading chairs to sit back and relax reading a book.

Rocking Chair

A rocking chair that’s as soft and cushy as it is chic takes you to the ultimate comfort zone! Makes a good choice for the kid’s nursery or your living room. 

Pouffes or Foot stools

Put up your tired feet on a comfortable Pouffe or a foot stool and give them the rest they deserve!

Wooden Farmhouse Table

Tables can dominate a space! A strong-lined wooden farmhouse table in a contemporary design will often stand out and make the room warm and inviting. You can add a mix of classic chairs to make it more comfortable!

Display Unit

Add a display unit to your home to make it look more spacious and open. Also, you get a fancy space for storage! You can display your books, collections, memorabilia, vintage pieces, and quirky possessions.

Bedroom dresser

A dresser is a very functional and eye-catching piece of furniture in every bedroom. You can get a wide array of options nowadays in design, type of material, and style.

Mirror

The best way to open up and brighten your home is by adding a mirror. Try to get a big mirror with a unique frame.

Coffee Table

A low Coffee table adds to the comfort when you have friends or family at your home. It can be used to place drinks, flowers or as a general table for placing items.

Check out luxurykeralaflats.com for buying the best flats for sale in Kerala. We hope this list of friendly furniture Pieces for a comforting home will help you in furnishing your apartment. Good luck to you!