How
to Plan Real Estate Finances
Repaying a real estate loan is easier, if you plan finances efficiently. If any investment is there which requires plenty of preparedness and tenacity, it is probably the real estate investment. The amount involved is huge and a great patience is necessary. It takes a minimum of 8 to 10 years for most families to feel comfortable with their property investment.
Repaying a real estate loan is easier, if you plan finances efficiently. If any investment is there which requires plenty of preparedness and tenacity, it is probably the real estate investment. The amount involved is huge and a great patience is necessary. It takes a minimum of 8 to 10 years for most families to feel comfortable with their property investment.
The
percentage of loan amount could vary from individual to individual, but the
share of loan tends to be well in the region of 70 to 80 percent. In recent
times, interest rates have been highly volatile and hence, the EMI is unlikely
to remain constant till the loan repayment. Here are some of the tips to help
you manage your real estate
finance comfortable.
Estimate
EMIs:
Before
you sign up a home loan, get mentally prepare for EMI. This will help you in
managing the loan liability with lot of ease. The best option is to keep aside
the EMI sum in the form of monthly savings. It will not only allow you to save
a quantity for your property purchase but will also help you to be prepared
when you decide to take loan.
Increase
Margin Money:
Increase
your margin money as early as possible. Though a real estate finance helps you in
avoiding taxes, the benefit has a limit of 1.5 lakhs. If you pay a higher EMI
and higher interest, it will not benefit you. Hence, keep the loan to the
minimum.
EMI
Percentage:
Your real estate finance should be according to your repayment
capabilities and the EMI should not exceed more than 50 percent of your monthly
income, because you also need funds for your living expenses and emergencies.
Accurate
Estimate:
Never
borrow your loan based on your future income as it may or may not arise. Many
tend to believe that their salaries would automatically rise after one year and
takes their loan for 60 to 70 percent of their monthly income. It is better to
have an accurate estimate for EMI for repaying the real estate finance without much strain.
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| Neeta Shah
Contact Details
Office :- 022 - 2895 32 32 / 022 - 2894 87 47 / 022 - 28906363
MobileNumbers
Neeta Shah - 9821411063
Parth Shah - 9821911063
Kalpesh Shah - 9821106543
Manish Sheth - 9821728465
Skype Id :- neeta.shah30
Email: neeta@aasharealtors.co.in
Shop No. 2 & 11 , Shailesh Apartments,
Borivali West, Mumbai – 400103,
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