The Better Long-Term Option? Living On Rent Or Owning A Home!
The Better Long-Term Option? Living On Rent Or Owning A Home!
Owning a home is a big dream for each & everyone. It is just much more than just a roof & four walls. It blows up a range of emotions and feelings in us. No matter what size or shape your home is, the thought and feeling of home can mean varying things to various people. The sense of safety & security you get from owning your own home is the most prominent & difficult to explain. Read the article to know the best reasons why you should opt for owning a home rather than renting.
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No Landlord Hassles
When you own a home, you are the controller. You do not have to deal with a landlord for any minor repairs or make any changes to your home. Living in a rented home means you are fully dependent on the landlord for water, electricity, maintenance & even to hammer a nail in the wall.
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Freedom & Emotional Security
Buying a home renders added comfort, security & privacy, not only to you but also to your entire family which is a simply irreplaceable experience. Also, the decision to extend, renovate & utilize the space as per your liking is always with you & you don’t need any permission. So, when you have a home, you are your own boss at home!
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Easy Financing Options & Can Avail Tax Benefit
With the availability of a simple financing option, home buying is effortless now. Here you don’t need to wait till your 40s & 50s to collect money for owning your dream home. You can easily acquire it in your 20s & can be the proud owner of a fully paid off house when you turn 50 or even earlier. Hence, when you want to purchase a home by availing a loan, you get capable to earn the tax benefits on the home loan principal & interest you payback. These gains add up to a reasonable deal, in possessing your home.
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A Chance to Rent It Out
Owning a property gives you a major edge that you can rent it out to someone after a point of time to return your home loan. This is possible if you are buying a ready to move apartment. By doing this you can save some money & let the tenant pay your debt over monthly rent rather than paying it from your wallet.
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An Investment
When you are adapted to remain in a particular town for extended periods, having a home will definitely give you a feeling of peace, closeness & help you to connect to the town easily & its way of life. Also, undoubtedly in future you will get a good return value of your property. As we know, over time the costs of property normally increase. Besides, owning a home provides the security of a hard asset simultaneously with guaranteeing monthly cash flow. Likewise, the security of one’s own home in uncertain times can be also a blessing & lessens stress & anxiety. If you pause your home buying process, it will end in having to spend a higher amount as you are forced to pay rent over an extended time.
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No Uncertainty
With your own home, no fear or anxiety is caused by the chance of an untimely end of the lease agreement by the landowner. Moreover, there are no other annoyances like renewing the rent contract every year & negotiating on rent regularly.
For the above-mentioned reasons, it is clear than the benefits enjoyed by a house owner are far better than an occupant leasing a house. As you don't require to compromise on various aspects such as location, spaciousness, amenities & much more whereas by investing in your own home, you can simply ensure that your preferred property satisfies all your aspired expectations. Yes, it’s true that sometimes toward the start of purchasing a house may show up as a difficult task, but at the end, you will get a beautiful home of yours & you can give your family a secured life as they deserve!
If you think you’re ready to start your journey towards homeownership, then no worries! We are here! Being the leading & the most trusted real estate builder in Kerala, Varma Homes has helped people in purchasing their dream homes. We guarantee we can meet the top-notch quality, safety standards, on-time project delivery & complete client satisfaction. Currently, we have presence in the prime locations of Kochi, Tripunithura, Thiruvananthapuram, Thrissur & Kozhikode. Here you can experience luxury, endless view & outstanding amenities at the apartments of Varma Homes & all are uniquely designed to get our clients like you the feeling of endless happiness. So, take your favourite choice from the house of Varma Homes for realizing your dream home. Get in touch with us to know about our ready to occupy and ongoing apartments in your favoured locations.
Say no to rent & Yes to Complete Ownership of Your Home with Varma Homes!
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Top 5 factors to consider while purchasing a flat that you want to resale in the future
If you are purchasing an apartment with a plan to resale it sometime in the future, then you should consider certain things before going ahead with the purchase. This would be wise to bear in mind how the other buyers would view the house that you have been considering purchasing.Life is uncertain and so a critical need might arise anytime when a dream home needs to be put up for sale as well. Whatever the reason be, no one wants the headache of a property that is difficult to resell. So, here is a list of the major home resale factors that you should ideally be aware of to continue your journey of home purchasing.Developer's Reputation & GoodwillAlways validate the profile of the developer before buying an apartment. You must do thorough research on the builder's profile and dig in through the history of the builder. It is important to make a detailed study of the credibility and earlier projects which he has delivered before you invest in property. Established credentials of the builder will assure a line of defence against getting cheated out of one's money on an investment. Reputed builders will always ensure legal sanctities, structural integrity, and timely completion.Construction QualityMonitor every aspect of the construction process to drainage engineering, and attainment of acceptable levels of performance within the defined guidelines set out in the scope of work. Inspect and ensure the building's construction quality and materials used in the project to make sure the final deliverables are free from any construction-related defects in the future. Before finalising your deal, analyse the quality of construction by inspecting the strength of the structure, the floorings used, the paints applied, interior fittings, and accessories. The size of the flat in an apartmentThe house's size plays a major role in reselling your flat. With all the recent work-from-home trends, people are usually looking for homes that have more rooms and provide more privacy. However, these particular trends depend on the city or town where your property is located. For example, in urban areas, smaller apartments are more prevalent while in the suburbs, the buyers are more accustomed to larger and spacious houses. You must necessarily research which size of the home is more popular in your city and then invest accordingly. The neighbourhoodThe neighbourhood and locality have a major impact on the flat's resale value. An apartment that has more amenities and along with good safety has a higher resale value. Before purchasing an apartment, it is advised that you research several popular trends, the potential new plans of infrastructure, community areas, transit accessibility, and other necessary amenities that exist in the target area. This would be a good idea to opt for quick checking of the flat's neighbourhood. This will give you a fair idea of the neighbourhood. Safety & SecurityThe must-have safety features for residential properties include fire-fighting provisions such as extinguishers, smoke detectors, and water sprinkler systems. Also, there should be provisions to tackle natural calamities such as heavy rainfalls, earthquakes, etc.Also, the best security arrangement within the societies includes trained safety guards at the entry and exit points, CCTV surveillance, burglar alarms, and intercom systems. Ensure that the safety and security systems are in place and get updated regularly.Also Read: Reasons Why Luxury Flats in Kochi Are Worth the InvestmentThe age of an apartmentThe age of an apartment is very crucial as buyers consider certain factors like the lifespan of several elements like the apartment's roof, appliances, electrical systems, windows, plumbing, etc. Even 10-year-old apartments remain at their best if the maintenance cycle is properly followed. As one of the premium builders in Kerala, Varma Homes are designed with fine attention to detail that resonates across all its projects. The spaces are luxurious and reflect what you would only expect from upscale homeowners who will settle for nothing but the best when it comes down to their aspirations. Storage space in a flatThis is one of the factors that is often overlooked while purchasing a house especially while purchasing a flat in an apartment. While this does not enhance the resale value of a particular flat directly, this usually makes a flat more in demand amongst the buyers. Homebuyers usually prefer flats that have adequate and intelligent storage spaces.In modern houses, the homebuyers usually look for at least one walk-in closet that is attached to a master bedroom. The outdoor spaces for storage like assigned car parking, sheds for laundry activities, etc. are also taken into consideration.Bottom lineAs you start hunting for the perfect flat, it is important that all of your preferences are met. You need to take into account several different things discussed above in order to make an informed choice on which property will work best with them and also help when resale time comes around!Of course, there are plenty of red flags that you need to look into while selecting a flat for sale in Kochi, but we have listed the most notable factors for a quick read. A good investment with wise decisions can help you live, and even earn a stable income for your future generation.
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Is Buying An Apartment Better Than Renting One In Kerala?
The desire to have a place to call home is what provokes the majority of people to own an apartment. But sometimes, they are stuck in the EMI vs rent dilemma and hence they are hesitant to take a good decision. Many questions may arise, such as whether it is sensible to pay more for an EMI when I can rent it for a significantly lower price, or whether I can handle the bank loan interest, and so on. Yet, in the end, most people choose to settle down in their own home. Now it seems that the residential real estate industry is at its best now with several favourable factors that force people to buy an apartment in their favourite location. People can access loans at historically cheap interest rates now. Owing to the RBI's decision to lower the repo rate, home loan rates have fallen below 7* percentage, compared to 8-9* percent a year ago. If you have adequate monetary wealth, you can purchase an apartment. Though, if you do not, then also, you can try to purchase a home with EMI. After paying high monthly rent, you will eventually buy your home. Paying EMI is better than paying high monthly rents. After all, finally, you have your own property to call "Home". In the case of renting, rent is a monthly payment that does not result in the creation of any physical asset. Paying EMI, on the other hand, has important impacts: it not only gives you present shelter but also advances the proportional possession of the property. While it is true that renting relieves one of the stresses of EMI payments, property taxes, & other legal concerns that come with owning a home. Unlike apartment owners, renters do not have to pay for maintenance or repairs, & they do not have to pay property taxes. However, owning a property as an investment might save you a significant amount of cash, thereby leaving you to build equity and also the appreciated land value will promise you a huge return on your investment. Make the Correct Decision! Owning your own home is desirable, & the time is when you can afford it. Affordability is usually a crucial factor when it comes to purchasing your own home. As a rental, you will not find a decent property for less than 15-20k rupees in a good area, so even if you stay there for 15 to 25 years, you won't have a home to call your own. However, if you buy it with a home loan, you have a home of your own; you won't have any trouble settling down when you retire, a home increases your net worth & credit score, your future generations have an edge over others, and so on. Without a doubt, owning an apartment is a worthwhile choice rather than renting one. Renting does not allow you to build equity in the same way that buying an apartment does. Also, your rent could increase at any time. You're perhaps under the control of your tenant, who may order you to leave or defer repair demands. But, when you take out a loan to purchase a home, you're already mindful of the EMI you'll have to pay over time. But it is worth than renting. Let's look at a real estate property in Kochi as an example. Consider the following scenario: You need to pay 20K average in rent to get a housing, with around 5% increase in rent per year. The rental range will increase in the next ten years too. On the other hand, if you purchase a nice apartment for 40–60 lakh & pay an EMI of 30K with today's lower loan interest rate for a period of 20 years, you will save a huge amount in the long run. Also, it might be possible that in twenty years, the price of your apartment will also increase. So, think about whether you want to invest in it. That is, do you want to pay around 2.5 lakh in rent per year or do you want to own a house that will be an asset to you? Wrapping up, In fact, renting has its own set of benefits, such as flexibility, HRA, & lower monthly costs, among others. But when it comes to apartment ownership, it offers a long-term investment with the potential to create equity & raise the value of your house over time, as well as tax benefits & the option to transform your home into a source of income & integrate yourself into your community. Furthermore, by taking the step of purchasing your own home, you provide greater stability for your family's lives as well as their social lives. Besides, the sense of security & pride that comes with owning a house is unrivalled. And it is better to own your dream apartment through a mortgage, since it'll be all yours after a few years & you won't have to pay for it. But a rental house will always be for rent & you'll be paying for it for as long as you live there. Hence, it's quite obvious which option is the greatest. So, don't get caught up in the buying vs. renting debate any longer! Buy your dream home with Varma Homes, one of the leading builders in Kerala, offering apartments in Kochi, Tripunithura, Thiruvananthapuram, Thrissur and Kozhikode with top-notch amenities.
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Buying An Apartment in Thrissur Is A Wise Move
The third-largest urban agglomeration in Kerala and the site of the Thrissur Pooram festival, Thrissur is situated precisely in the geographic centre of the state of Kerala. The land of festivals is also one of Kerala's most vibrant commercial centres, drawing visitors from all over the nation and state due to the rising demand for flats in Thrissur.Are you aware that Thrissur is a city with a bridge-like existence? the span that connects North and South Kerala. The district added another gem to its gorgeous crown as a result of this bridging quality.Thrissur has now grown significantly. In terms of being a city that encourages investment, it has improved. It is also close to important cities like Kochi. And Kochi also happens to be Kerala's commercial centre. Thrissur is the ideal location to invest right now because Kochi is nearby. The need to acquire assets in Thrissur is thus currently tripling. Many people are interested in Thrissur's spirituality, culture, and booming economy.1. AccessibilitySince Kerala's cities are not all located in the same general area, not all of them can boast that the bulk of their flats and apartments are conveniently accessible. Thrissur is an exception in this regard and is situated exactly in the geographic middle of the god's own country, making travel to other areas of the state as well as to the bordering states simple.2. Cultural elementThrissur is the top real estate investment location in Kerala and is renowned for its cultural diversity and reputation as the "country of festivals." Owning a residence in the centre of Kerala's cultural life, which attracts attention from around the world for its famed Thrissur Pooram, increases the district's importance.3. Weather conditionsThe attractiveness of the green, clean city of Thrissur among buyers of homes is boosted by its promotion of environmental protection, growth, and preservation. The city's constant temperature, which never rises or falls, contributes to the stability of one's pleasant modern lifestyle.4. Fourth-Generation IT HubThe real estate market in Thrissur, which is home to one of Kerala's main IT centres, is still in its prime, rising stage and has not been affected by oversupply like the other IT centres of the state. Customers have benefited greatly from the thriving real estate sector since builders in Thrissur are continuously trying to innovate.5. NeighborhoodThe area of Thrissur city also makes it easy to get to corporate hubs, medical facilities, schools, and well-known landmarks as well as large retail complexes (City Centre and Sobha City Mall). There are three medical institutes, including the Kerala University of Health Sciences, located in the suburbs of the city, which are exceptionally equivalent to the major cities of Kerala. The famous Sree Kerala Varma College and the Kerala Agricultural University have added to the city's long history of educational importance.6. A healthy cash flowThere will always be a demand for real estate properties that people would rent or take a lease on because Thrissur is a thriving commercial centre where thousands of people come in search of employment. Your purchase of apartments in Thrissur as an investor seeking a consistent return will, as a result, ensure a positive cash flow.7. Return on Investment (ROI)The return on investment should be the first consideration when thinking about investing in real estate since if an investment doesn't produce your fantastic returns, it will be of no value (ROI).Due to Thrissur's consistent growth, investments in the area's future are completely guaranteed because the region's expanding economy will only increase your property's return on investment. The price of the property will go up if you decide to sell it in the future, and the longer you keep your investment property, the bigger profits you'll get.One of the greatest builders in Thrissur is Varma Homes. Years of expertise in the industry taught us that real happiness can only be found when the homes built are of quality and most importantly, eventually, become an investment worth a lifetime. For timely and efficient all-time delivery, we strictly follow efficient methods of planning in advance, training labourers, and staff members and adhere to safety procedures.
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Consider location before purchasing a property
Whether if you are an expert property investor or a first-time homebuyer, the purchasing decision process for a property involves both time and energy. And when your desired location is in one of the booming real estate markets like Kochi Metropolitan area centred around the city of Kochi, then even more time and energy is required. Kochi’s real estate market is very active nowadays and with its price fluctuating, one need to conduct a thorough research on the ideal locations, metro connectivity, traffic volume, infrastructural development and the changing market trends; when purchasing a property in Kochi. During the research, one will get to know the importance of a convenient location very clearly. Indeed, the above mentioned factors play a vital role in the property purchasing process in the metro city. So before you actually settle down on one property, interact with the best real estate developers and validate the various other factors. Paying an adequate attention to these factors, while purchasing a property can make your living easy in Kochi and if ignored, these can become the reason for your inconveniences and losses. And shortlisting the properties at strategic locations can also offer best returns, if you are someone who prefer investing in. If we discuss more specifically about the most developing areas of the Kochi city i.e. Edappally and Thripunithura, and if the locations are chosen wisely for new luxury apartments, it will prove advantageous in many ways. If you have chosen the location according to your investment plans which is just for a shorter period of time, then it is highly advised to purchase a property located in a developed area or an area which is in its development phase. But if the investment plan is for a longer period of time, then there is absolutely no harm in opting for residential projects in Kochi as the locations are likely to develop at a faster pace in the near future. For those who have a joint family and are planning to purchase a property for their own personal use, then they are greatly recommended to seek for a location which can cater to everyone’s need. Those who live with young children can select a location which is neighbouring to renowned schools or other educational institutions, famous amusement parks and popular shopping malls in Kochi. And if your family consists of old parents, then choosing a location which is proximate to well-known hospitals, 24 hours pharmacy, temples, etc. will be a nice option. For the working class family members, the use of metro can save both your time and money when commuting to work. Varma Maalika and Varma Regent of Varma Homes, the most reputed builders in Kochi are the ready to move flats in Cochin accessibly erected in the most developing and prime residential areas of Kochi city. Both these carefully built apartments have already received an overwhelming response from the public. The 2 & 3 BHK luxury apartments of Varma Maalika in Thripunithura, exactly positioned at S.N. Junction is close to almost everything. This ready to occupy apartment is just 200 meters from Metro Station. The place is connected to temples, shopping malls, schools like Bhavans, Choice & Chinmaya and connectivity to mini bypass & the seaport - airport road. Varma Regent’s luxury flats in Edappally is adjacent to all the prominent healthcare centres, hangout spots and other major commercial developments. Apart from the nearness to Lulu Mall, its easy access to Metro Station is an additional benefit of Varma Regent.
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Let's Join Hands to Reconstruct a New Kerala
Yes, it is true that the unexpected flood badly affected the beauty, peace, economy and heritage of the God’s own country. More than 350 people lose their life, many are displaced and huge loss of infrastructure are caused due to this flood. The magnitude and intensity of the floods, landslides in Kerala are very large. But the major consequences of this disaster is the realisation that the obligation of taking maintenance and care of the security and safety respites straight on individuals themselves. Many people, organizations, institutions and countries open their hand and heart to support Kerala to overcome this terrific situation. It revealed the element that the people are more generous and charitable than we thought. So it gives a renewed hope for building a wealthy future in the midst of divisiveness and hatred. Efforts are now under process to make a new Kerala with the fresh start to rehabilitee all the victims, rebuilding the air, road connectivity and also the whole affected areas. Varma Homes is always dedicated to constructing happiness since rehabilitation is a prolonged process we plan to keep our service and offers that should be favourable to our victims and also for the creation of the new Kerala. We are the pioneers for establishing delicate lifestyle with our brand new apartment and flat projects across all the cities in Kerala. We assured you that we are capable to present you another world of fulfilment, security through our finest apartments and luxury villas within the affordable prices to the customers. Varma homes set a benchmark for satisfying their client’s expectations and requirements. We already raised our hand to contribute our donations to the rebuilding of Kerala with our latest affordable services and projects. Varma Homes Join hands to the Comeback of Kerala Kerala recently faced the worst flood in the century and the daunting chore of reconstruction and rehabilitation from floods mock-ups a huge challenge. During this crisis, people showed a great resilience and also displays the emulate power of Kerala to the world. A unity of action is discovered throughout this crisis time. All divisions, regardless of religion, politics, creed, caste, gender, and business worked collectively to pull up Kerala. Our projects mainly spread across various cities in Kerala like Trivandrum, Thrissur, and Kochi. All our projects in these locations were not affected by this flood. We also made all necessary precautions to protect our projects from this natural disaster. Since we are always committed to deliver our services in terms of quality and worth beyond business profits, we also pitched this crucial time of Kerala with wholeheartedly and generously. We definitely play our role for the comeback of Kerala by putting innovative ideas and projects for encouraging and backing the rebuilding efforts of the whole state. Since the Government main motto is to not only limit to the restoration of Kerala to the pre-flood times but also to create a thriving path towards the new emerging Kerala. For this, we are interested to offer our services to the minimized costs or in discount amount for distributing our apartments to the right victims. It is true that Kerala is receiving huge support and love from the world’s each corner and nook. So it is our pleasure to be a part of this rebuilding process of Kerala by our smallest contributions. Since we are the best builders in Kerala and we are dedicated to promising the noble class of living to our clients with our goodwill and promptness of our projects. We centre on earning the trust and confidence of our customers and to advance the supreme with our best facilities. We understand the great responsibility of us towards customers, society and country. Our creation of latest projects continues with the advanced innovative living amenities to our most valuable customers. Our capable workforce tuned our client’s dream apartments and villas into reality along with our latest mission for the rebuilding of a novel and fresh Kerala. We hope this nobility will continue in future as our firm emphasis on quality and value.
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