10 Home Renovation Mistakes to Avoid
Are you planning to renovate your home? If yes then there are certain mistakes that you need avoid very specifically. Weather you hire a professional to renovate your house or you do it on your own you need to avoid certain common home renovation mistakes to avoid. There are some common mistakes of renovations that you need to avoid in-order to complete your home renovation process in an orderly manner.
- Setting an irrelevant budget:- Always set a budget that is 20% extra than your requirement as Renovations costs more than expected.
- Not complementing the original architectural style:- Sometimes the additions that you make in your original structure of your home may nor deliver you the correct resale value. This is another home renovation mistakes to avoid while making addition to your original architectural style.
- Sacrificing the function or the form:- You need think in a proper manner about the fact that, how you will live in the space. Leaving the space may affect your placement of your doors, Windows and the traffic patterns throughout the home.
- Being too Trendy:- Updated and the Fresh looks are good but you need to consider the resale value of the property too. In this regard, you need to consult a designer as trends have short life span while a good design lasts longer.
- Buying materials too early:- Buying the perfect appliances is crucial for adjusting the cost and making the plans in the correct order. Otherwise the risk of wrong quantities of getting materials will be there.
- Selecting the appliances last:- Select the appliances lastly when your design is ready and you can install the appliances as per the need.
- Not ordering the extra:- Always order extra item to complete the job on tine without any worry for shortage of materials.
- Focusing on appearance:- You must not only focus on the appearance of the home but also on the other fundamental aspects that may bother you later. Like electricity connections, subflooring and sound, foundation of your home, etc.
- Buying cheap materials:- In order to save money you may initially buy cheap materials that may cost you dearly later. So, avoid this basic mistake regarding your home renovation.
- Updating wrong things:- Updating the unnecessary things may disturb you later. Don’t consider the looks factor only you must also consider the longer benefit of the renovation.
Hence, from the above information it has become clear that how home renovation mistakes you can avoid making your home look beautiful and updated. Just follow the above steps to avoid the costly mistakes that can make you pay dearly later for your renovation. You need to be ready with the extra materials so that you need not to face the difficulty of shortage of materials. Remember one thing that, you cannot neglect the factor of renovation but it should be done in order to meet your necessary requirement of the house. You must focus on making the right decision at the right point of time to renovate your house properly.
10 Reasons Why You Should Work From a Co working Space
Co-working is essential for making a perfect alternative that you can use to work from your home. This type of work place offers a perfect environment for the hard-working professionals who are dedicated to work hard and with efficiency to achieve their goals. There are several benefits of work from co-working space. But in most cases, people are not aware of the benefits of working from a co-working space to enhance the growth of your career.
There are several benefits for working in the co-working space let’s explore the facts one after the other.
- Find meaning:- When several co-workers are working from the same working space or from the floor then they will have a better scope to grow in their career. A collaborative work approach increases the chances of creating a team effort to solve the problems in a better manner. Learning from work will be more.
- Perks and space:- Better space is possible due to co-working environment. It will help the professionals to get better food services, work spaces and conference rooms many more essential amenities very easily. This enhances their work efficiency.
- Better flexibility and job control:- It provides better control and the flexibility to work from home or from the office suite. You can work at any time of the day it may be in the night or at the day time.
- Less chances of loneliness:- When lots of employees will work together then the chances of loneliness will be minimum. It will boost up your morale to work hard as your co –workers are dedicatedly functioning well in their business.
- Networking opportunities:- This is another vital benefit of work from co-working You will get the opportunity to build a strong business and professional network among your colleagues for future reference.
- Central location for the clients:- Organizing the client meeting will be easier as in one place they can assemble and do their client meetings.
- Increase in productivity:- You will be surrounded by dedicated and committed professionals hence your work efficiency will increase automatically. This is very crucial in increasing the chances of growth.
- Cost-efficient:- The office space will be cheaper and you will get cost efficiency while working.
- Scope to learning new:- when you are surrounded by quality professionals around you then the chances are higher that you will learn something new with them.
- Happiness:- you will get happiness after doing the work as your level of work satisfaction will be higher.
Hence, from the above information, it has become clear about several benefits of work from the Co-working space. You just need to keep searching for the right co-working place to enhance your performance and productivity in the workplace. Do not make things complicated. You will learn lots of new things and will start to enjoy your work while you will work in a co-working space this is the magic of this work area which will boost your confidence easily.
Make your home Eco-Friendly this World Environment Day
Conserving the environment has become the need of the hour and has led to the demand for eco-friendly homes. The concept of a green home is beyond the environmentally sustainable house but about a greener lifestyle. Your will to conserve and preserve the environment could lead you to a healthier and happier life. This World Environment Day, let’s make the conscious effort to create an environment-friendly lifestyle and what could be the better place to start with than your home.
Here are a few of the tips to start the green way of living:
Curb the usage of Plastic
The very first way to conserve the environment is to reduce the usage of harmful materials like Plastic. De-clutter your home and take out the unnecessary plastic items especially the ones being used in the kitchen like water bottles and plastic containers. Curbing the use of plastic can eliminate a substantial amount of land and water pollution. On top of it, shifting to more sustainable and organic materials could help you lead a healthier life.
Manage the waste
Another important element to lead a green life is managing the household waste. Ensure that you are creating separate bins for wet and dry waste in the house and segregating the edible kitchen waste. You can try composting the kitchen waste and use it for the indoor plants in the house. Also, before throwing off anything take some time to think if it could be recycled. Nowadays, you can recycle almost everything from your old clothes, newspapers to batteries and furniture. Recycling helps in reducing land pollution since the recycled material could be reused to build something new rather than ending up in landfill.
Add Greenery inside your house
While we all focus on adding plants outside the house like balconies and yards, however, bringing greenery inside your house is equally important and the way to a greener life. The indoor plant is an excellent way to improve the air quality inside the house and requires less maintenance. You could also try your hand in creating a small kitchen garden for your herbs which could help you get the feel of going your own organic food.
Conserve Energy and Water
Energy conservation is the topmost priority and need of the hour in today’s time. It is not only a sustainable practice but also could help you cut down on those high energy bills significantly. Switch to energy-efficient appliances like replacing the regular lights with LEDs or sensor-based lighting system, unplug appliances when not in use, and go for regular servicing of the electronic appliances for maintaining their efficiency. In addition to it, you can insulate your home from windows to walls that would help in maintaining the ideal temperature inside the house without an extra load on the AC or heater. Sustainability is not just about saving energy but also about saving one of the most natural elements required for our existence that is Water. Make your home leak-proof and invest in some good taps and faucets. Reducing the energy consumption in the house will help you save on the utility bill and save the environment.
Make this environment day a beginning of an eco-friendly lifestyle to transform your home and the planet.
Factors you Need to know Before Selling your House
Are you planning to sell your house? Just like buying the house, selling the house is an equally daunting task for the homeowners. Whether you are relocating or planning to buy a bigger house, selling your existing property could be cumbersome without knowing the proper steps to uncover this emotional journey.
So before you plan to put up your property on sale, below are few of the tips to make this journey a bit smoother:
Touch up your home
Selling your house can be difficult and tricky without touch-up job. If not a complete makeover, go for making the minor repairs, cleaning job, painting the areas that require attention so that your house looks like a ready to move in property. Fix up the most common things like broken handles, taps, missing lights, broken windows, mirrors, etc. On top of it, stage your house well to make it shine through and give a good first impression. De-clutter and organize the space especially the living room, so that the buyer gets the fair idea of the space available. Add freshness to the house by adding plants and flowers that would make the house look lively and green. Idea is to make the house look appealing to the buyers that they could customize as per their preferences.
Keep your legal documents ready
Ensure that you have all the legal documents that show you are the rightful owner of the house. Moreover, be honest about the details of the property to avoid any legal repercussions at the time of the sale. Make sure there are no structural defects and you possess all the required permits of the renovations or advancements made. Cover yourself legally from every aspect to avoid any surprises at the later stage that could break the deal.
Current market assessment
Before proceeding ahead with the selling process, you need to be aware of the current market rates and research on the same. You simply cannot put the property on sale based on years-old valuation. Hence, you need to ensure a fair assessment and valuation of the property as per current market standards to avoid devaluating the price of your house.
Take help of the expert
If you are not in a hurry to sell the house or want to save on the commission required to be paid to the broker then you can always sell the house on your own. Privately selling the house with the help of word of mouth or self listing websites can be beneficial if time is not the constraint. However, if you do not have time to go through the whole process yourself then opt for the help of an expert real estate agent. If you choose the right agent, the navigation would be much smoother and faster. From advertising the property, taking care of house visits by potential buyers to legal documentation like sale agreement, a professional agent could make the process legally safe and error-free.
So before you put up your house on sale, remember to go through the above tips for making the selling process a bit easier.
Tips To Let Your Home Reflect Your Personality
The best thing about your home is that it’s your space. While it is alright to consider the latest trends in interior design but in the end, your home should be the reflection of your personality. It is important to incorporate your taste and style to your home that depicts who you are and what you like. Infusing the personal touch creates a happy space, helps uplifting your spirits, and gives a sense of belongingness to you and your family.
Here are 4 tips to customize your home with the tinge of you and let yourself shine through your home:
Highlight Your Passion
One of the best ways to bring out your personality through your home is by highlighting your hobbies. Your home should give an insight into your passion and your interests. Surrounding yourself with things that you are passionate about makes you feel cozy and happy. If you are an art lover and like collecting displays then aesthetically place the work of your favourite artists in the living room.
If you are a nature lover then create an indoor garden and infuse the green quotient in every corner of the house. Do you love music? Then put the elements of music like instruments-guitar, an antique vinyl record player with a statement wall in the background. If you resonate more with reading then install a wall-mounted library or bookshelves. The walls, decor items, and furniture, they all are your playground and you could play with them as per your taste and have fun.
Narrate Your Story
Each home tells a story and you can narrate yours by creating a memory lane. All you need is an empty wall and transform it into your personal gallery. From pictures of your family, your childhood photographs to your travel history like souvenirs, postcards that you have collected over the years, display them as a warm memory of your past and your roots.
Play frequently with the wall and update it regularly with your achievements and accomplishments. The wall acts as a silent narrator of the story of your life and immediately depicts who you really are. So make space for creating this special personalized corner for yourself.
A Statement Entrance
Let people have a glimpse of your personality by having a statement entrance. Transform the dull entrance like the foyer with something inviting and welcoming resonating with your personality. You can experiment with displaying items that could act as good conversation starters like a flower bouquet, a statement mirror, your antique treasures, or a welcoming seating area. The entrance speaks volumes about the home and the people living in it.
Envision the Design
The design of each room says a lot about the owner of the house. A perfect design is the one that is envisioned by you. It is something that gives you peace and makes the home your heaven. The way you design the interiors of the house depicts your traits, for example, if you like being organized, efficient and target finesse then the minimalist interior design is for you clubbed with similar textures and patterns. If you like being unique and old school then you might want to plunge into the vintage interior design to depict your taste.
You cannot go by a fixed rule when it comes to bringing your home interiors in sync with your personality. So be the creator of your own canvas and paint your house with your personality.
Selling Vs Renting your House - Factors to Consider
If you are planning to move or buy a house for the second time either for a bigger space, for a better location like, or for upgrading to a luxurious one, you probably are confused about whether to sell your existing house or to put it up on rent. To make this important decision you first need to consider various factors involved like the objective of making the move, whether is permanent or temporary, your financial situation, and the market conditions.
Let’s take a look at the important factors to consider while making the ‘sell vs rent’ your home decision
Duration of the move
If your move is not permanent and there is a possibility of coming back, then it is better to rent out your home for few years instead of incurring the cost of selling the house and buying a new one. By putting your house on rent, you always have the option to move back and save on the agent fees and other transaction expenses.
Profitability involved
One of the most important factors to consider is the potential profit involved in both cases. In-case of renting out the property- is the property generating positive cash flow? Once it is up for rent, is the monthly rent generated is more than the expenses like maintenance, taxes, insurance, etc. If there is no positive cash flow or negative cash flow, then consider selling the house. The next step is to weigh the profit in case you plan to sell the house- if the market is up and you are getting a fair price of the property then consider selling the house and you could invest the profit in something else that may provide good returns. In case the profit is marginal or low as compared to the positive cash flow you are getting from renting, then hold the property for a while and wait for the market to rise.
Future potential
Gauge the potential of the house and the location in the coming times five to ten years. If the future looks bright in terms of infrastructural development, job opportunities, quality of the neighborhood, etc. then it’s best to hold the property and put it up on rent in the meanwhile and vice-versa. Analyze the current trends in the locality and anticipate the future growth of the area for making the best call.
Rental responsibility
Finally, ask yourself if you can take up the responsibility of being a landlord and have the potential to invest time and money in the process. Consider factors like distance and handling the rental remotely, time to deal with day to day issues or emergencies, etc. Also, the condition of your home plays an important role while putting it up on rent. It is important to strike a balance between your time and financial investment for being a landlord and have the mindset to earn through it.
Besides the above factors, there are various other miscellaneous parameters like taxes on rental income or capital gains and market situation. Consider all the factors and risks involved while choosing between selling and renting your house. Finally, make the call that is best suited to your needs and financial situation.
4 factors that could devaluate your Home
The value of a house is based on various parameters like location, space, number of rooms, floor, connectivity, etc. These parameters remain unchanged; however, there are few factors that are under the control of the house owner. On the one hand, there are many things you can do to uplift the value of your house; on the other hand, there are factors that could bring down the value of your house.
Let’s take a look at the factors that could devaluate you home for you to take pro-active measures to avoid them:
Lack of Natural Light
One of the main things that boost the value of the house is access to natural light. While most of us do pay attention to the direction of the flat or apartment at the time of investing, however, it is important to ensure that the house should have access to the natural light as well. Sunlight is a very important element that is cherished by the buyers and the absence of the same could lead to devaluation. An apartment without access to direct sunlight could discourage potential buyers to purchase the house.
Vexatious Views
An unpleasant view is another factor that deflates the value of the house. Who wouldn’t want a scenic view from their balconies and windows? While this is not a mandatory feature that most people look for but it is catching the attention of the millennial. If not a scenic view, buyers would not want to see a plain wall or a neighbor’s living room up too close from their balconies.
Treacherous renovation
It is important to remember that different people have different tastes and choices. It varies from region to region and personal preferences. With so much variation in the likes and dislikes of people, dodgy renovations of the house could restrict the flexibility a home should offer for people to renovate it as per their needs. Go easy on remodeling the specific areas in the house, for example, some might prefer a bigger bathroom and go for expansion covering the storage area, however, others may want more storage space in the house. While you can play with the interiors but making structural changes could reduce the appeal of the house for a large segment of the population and potential buyers. Hence, over customization and treacherous renovations could change the main purpose of the room and reduce the value of your home in the buyer’s eye.
Over Customization
Customization of the interiors as per your taste is a good idea but over personalization could lead to a bad first impression o your home. Usage of odd colors for paint, contrasting wallpapers, and bad flooring influences the space in the house and makes it look cluttered. Ensure your house is well lit, tidy, and organized for a warm and welcoming vibe. Go easy while accessorizing your house and add as many natural elements for a fresh feel.
As a homeowner, you are responsible for upholding the value of your home and enhance it further for better prospects.
Defining Co-signer, Co-borrower, and Co-owner for a joint home loan
Buying a home especially if you are the first time home buyers could be complicated due to the number of formalities involved. From searching for the house, managing the finances to securing a deal, the process requires thorough research on the terminologies especially when it comes to finances. Whether you are buying the property for yourself or helping a closed one, it is important to be educated about the various terms involved in the process. Borrowing money for a home loan involves a lot of paperwork and requires a joint applicant for applying for the loan. With multiple people applying for a loan the chances of loan approval increase. There are many ways to involve another person in the joint loan application as a co-borrower, co-signer, co-owner, and co-applicant. If you are to be involved in any of the roles for home loan application then it is important to understand the difference between the terms which may look similar on the surface but has different legal implications.
So, let’s explore the difference in these titles before you apply for a home loan:
Co-signer
A co-signer is a person who guarantees the loan for the main applicant. This approach is usually sued when the primary borrower is not able to qualify for a home loan. A co-signer needs to have a good credit history to provide surety for the main borrower. Co-signer does not have any interest or part in the property and is only there to help the borrower to qualify for the home loan and act as a backup in-case of default. However, the loan will impact the credit history of co-signer in-case of delayed payment and would be held responsible if there is a default from the primary borrower’s part.
Co-borrower
A co-borrower is a co-applicant who shares the liability of paying back the loan along with the primary borrower. The co-borrower needs to have a strong credit history to be eligible and responsible to repay the loan in case the main borrower defaults the home loan payments. With the help of a co-borrower, the primary borrower can get a larger sum of home loans. Mostly immediate family members are the co-borrowers.
Co-owner
A co-owner is an individual who has the legal share and ownership right of the property as per the ownership agreement. The co-owner is responsible for the repayment of loans along with the primary borrower and entitled to tax benefits. It is mandatory for co-owner to be co-borrower but a co-borrower may or may not be a co-owner. Having a co-owner increases the chances of qualifying for a home loan as bans consider the salaries of both individuals for the loan application.
Whether you are signing as a co-borrower, co-owner or a co-signer, it is important to understand the risks involved. It is crucial to take into consideration the primary borrower’s financial stability before taking the accountability f a long term financial burden. Be well aware of your future investment plan as the loan may affect your credit history and may impact your ability to avail the loan for yourself in the coming times. Educate yourself with the legal implications and seek advice from experts to safeguard your interest.
How to Enhance Your Home with Natural Elements?
Bringing nature in your urban abode is the best thing you could do to give a fresh feel to your home and get
connected with your roots. We will all agree to the fact that being surrounded by nature has a calming effect. When
you add natural elements to your home you are bringing in an irreplaceable interior design that cannot be
replicated. If you are planning to follow this trend and bring natures best into your home, then check out these
natural and organically inspired elements into your home:
Houseplants
The best way to bring the raw nature into your home is houseplants. They not only give aesthetically pleasing vibe
but also improve the indoor air quality. Indoor houseplants are not only easy to maintain but also could be placed in
almost every room of the house. From potted plants, vertical garden, kitchen herb garden to planters, you can use
creative ways to display the plants.
Wooden Furnishings and Furniture
Bringing in wood to your interiors is one of the easiest ways to add natural elements. Wood weather finished or raw
is the warmest element that gives a cozy natural vibe to your home. From flooring to ceilings, you can use this
beautiful element anywhere and everywhere. In addition to this, wooden furniture is one of the most popular ways
to incorporate the rustic, antique and country look in your house.
Fresh flowers
Green interiors have moved beyond the artificial elements and found floral inspiration in fresh blooming flowers.
You can select the options from the seasonal flowers and place them as a centerpiece on your coffee or dining table
to give an instant fresh feel to your home.
Waterfall
The noise of flowing water is something that makes us feel closer to nature. You can enjoy the sound of running
water by installing innovative waterfall designs and fountains in your home. You can invest in tabletop fountains for
a perfect interior decoration piece or room partitions with water trickling down inside the glass wall.
Stone backdrops
You can bring in beautiful pebbles and stone inspired decors to your home. Who says stones and pebbles could only
be used outdoors? You can give an immediate facelift to any room by creating stone or brick backdrops and add a
natural outdoor element inside the house. The appeal of stones and brick backdrop is unmatchable due to its
uniform patterns. In addition to this, you can also add marble in the kitchen and bathroom for a clean, tidy, fresh and natural look.
Shells and Gems
If you want to add a beach vibe to your home then add small elements like seashells. Shells could be used to create
innovative home decor solutions and bring in the fresh natural feel to your home. To bring rich texture and color you
can add small elements like rocks and gemstones.
You can incorporate an instant natural and organic feel to your home with any of these elements and create a design
statement.
Debunking Home Loan Myths
Home loans are the most significant and useful financial tool provided by banks and housing finance companies. However, a home loan is considerably misunderstood as a debt that comes with a burden of repayment in monthly EMIs. Thus, to understand the optimum utilization of home loans, you need to understand and be clear and put the common myths attached around the home loans.
Myth 1-You can lend the home loan for the full value of the property
It is one of the most common myths amongst first time home buyers that you can borrow a home loan equivalent to 100 percent of the property value. The truth is home loan is given amounting to 70 to 90 percent of the total property value depending upon the market value, condition, and resale value of the property.
Myth 2- The lowest interest rate is the best
Selecting a home loan based on the lowest interest rate could be the biggest mistake and the most common home loan myth. Evaluate the home loan options in detail for hidden costs like processing fees and valuation charges etc. The interest rate on your home loan is decided on the basis of your credit score and repayment history. Also, a low-interest rate might look attractive in the beginning but you would have to provide a higher down payment. Always go for a fact check and finalize the home loan that best suits your needs. The low-interest-rate might not be the best deal for you and hence, don’t be blinded by it.
Myth 3- Shorter tenure is the best option
The home loan is conceptually a long tenure loan. Most people have the mindset that a home loan for a shorter duration will be a better choice; however, it would lead to high Equated Monthly installments (EMIs). On one hand, a high EMI can put a burden on your monthly budget but make you debt-free earlier, on the other hand, a low EMI can ease out the monthly financial pressure but stretches the debt period for long. Opt for a mid home loan tenure to create a balance between affordable EMIS s and right duration.
Myth 4- The fixed interest rate is to be preferred over the floating interest rate
One of the common myths floating around the home loan is fixed interest rate is better as compared to floating interest rate since it doesn’t fluctuate. However, the floating interest rate has its own benefits- It is usually lower than fixed interest rate up to 2 percent, which could make a lot of difference in savings over the home loan duration. Moreover, as per the current scenario interest rates are declining, hence, the floating interest could be a beneficial choice.
With so many options made available by the various banks at competitive rates, it could be difficult to narrow down on the right option. The key is to fully understand the type of loans, interest rates, and tenure to eliminate the misconceptions. Ensure that you are aware of all the required mandates and clauses of the home loan as it is one of the major financial decisions you have to live with for a considerable part of your life
