BUILD YOUR DREAM HOME

The dream of a home is universal. We earn to live comfortably. A home is where we get back after the toil of the day is over.
Since how long has the thought of building a dream home been bothering you? Since how long have you been saving to just get that perfect home of yours?

Dream Homes Chennai, Anna Nagar understands your desire for that perfect house. Getting a house constructed is a reason for extreme delight but at the same time can be thoroughly harassing and tiring.

This is where the role of Dream HomesChennai comes in. It is their endeavor to make your journey of building your dream home ready comfortable and smooth.
Here are a few things to be kept in mind before you take the plunge:
1- Budget it
Get your numbers right. Tell your builder how much you are ready to spend. Don't fixate on the per square foot cost. Instead tell him your budget and let him walk you through the various options available within your reach.
2- Have the squad ready
Have in mind the builder, architect, designer and lawyer if need be you'd be taking services from. So once the plot where you want the house to be constructed is decided you have your squad ready for action.
3- Get your needs straightened
Be very clear about what you need and what you want and then decide what weighs more on your budget to progress. Your builder can work out various options that you would have never thought of. This is what Dream Homes does to give you the best in your budget.
4- Everything good takes time as well as patience
Rome was not built in a day. Yes it is your dream house we are talking about after all. The fruit that patience bears are sweet to taste. So wait and take into account various factors like strikes, rains or other natural or unnatural hindrances that might cause some delay in the construction of your house. Being prepared for such thing will automatically make your ride less troublesome and smoother.
5- Transparent relations with builder
If you've chosen a builder for something so big you surely would have done your home work about the company first. Which means you would have surely chosen someone reliable and trustworthy. So trust him. Have easy and transparent relation with your builder in terms of your budget, expectations and problems if any.
Besides keeping these things in mind be alert, beware and be responsible. Having patience and being attentive will make the whole process easier for you.

Dream Homes Property Developers Pvt. Ltd. has made the ride of constructing the house very comfortable for many. It continues to do so to have happy homes and happy owners.

Buying Your First Investment Property?

Real estate has its own share of producing many of the world’s well-off people so there are ample of reasons to believe that property is a stern investment. But similar to any other investment, it’s better to be informed about the space before diving in. Unlike investing money in stock, which might cost a dollar or two per share, you could easily get hold of six figures into your first property. You must go through the information by Dream Homes Chennai before starting on your new career as a real estate magnate.

Pay Down Debt First

Savoir-faire investors might bear debt as component of their investment portfolio, but an average person perhaps shouldn’t. If you have pending debts like student loans, due medical bills or your kids will soon attend college, buying a rental property may not be the appropriate move.

Arranged the Down Payment?

Investment properties commonly require a larger down payment as compared to an owner-occupied construction and have more rigorous approval requirements. The 3% you put down on the home you at present live in isn’t going to work for an investment property. You would at least 20%, provided that mortgage insurance isn’t accessible on rental properties.

Be Cautious About Higher Interest Rates

The expenditure of borrowing money may possibly be cheap right now, but the interest rate on an investment property will be much higher. Keep in mind that you need a credit payment that’s low enough in order that it won’t consume too heavily into your monthly profits.

The Bottom Line

You need to have realistic expectations while buying a home. Just like any investment, a rental property isn’t going to generate a great monthly paycheck for a while and selecting the wrong property could be a terrible mistake. Consider working with a knowledgeable realty agent on your first property or rent out your own home to make the most of your deal. 

Here Are the Things Which Can Go Wrong With Real Estate Transaction

Real Estate industry comes up with something new each day. What keeps this business get going is that there is never an ordinary day; in fact, no two transactions are ever alike!  Some transactions go very smoothly, you turn up at the closing stage and can't believe that there hasn’t been any hurdle on the road. Others...well, they aren’t fortunate to reach at the closing table this smoothly! As per DreamHomes Developers, the last year, realty industry had some of the most random things going wrong during the deal - here are few for the year, so far!  

Buyer’s Regret

The real estate industry is all about bidding wars, its human nature to want to be the victor!  Few days down the line, after leading the bidding war, particularly if buyers have gone considerably higher than the list price, buyers tend to regret a little. Some even go to the extreme levels, ultimately making up their mind to terminate the contract for purchasing the home.

Buyer was pre-approved but had no credit!

As per Dream Homes Chennai, this has happened to many buyers just before closing the deal.  The lender had issued a pre-approval memo based on the stability of income only.  The buyer never had any sort of loan or credit card and hence, when the documents reached the underwriter, the file was rejected!

Buyer switches auto lease to purchase (or, buys a new car)

This doesn't take off with lenders if their debt-to-income ratios are rigid. It's recommended not to make any purchases using credit or savings until you reach to closing.  In this way, you can avoid the trouble of losing your new home along with all of the money that you've already exhausted in grounding of being the new homeowner (earnest money deposit, inspection costs, , title search costs, due diligence fees, appraisal costs, etc.) 

Is it Important To Work With A Real Estate Professional?

Purchasing or offering a property is a noteworthy budgetary undertaking. With the excess of administrations that helps the property purchasers and vendors in finishing their own realty exchanges is entirely later, and it leaves numerous individuals pondering whether to delegate a land operators or not. While completing the methods yourself can spare you the extensive commission rates requested by land specialists, for some, going solo may not end up being productive. They can even wind up being more costly than a real estate agent's bonus over the long haul. Dream Homes Developers carries your preferences of working with a land proficient for extreme benefits:

• Better Access/More Convenience

A real estate agent’s core task is to act as a connection between buyers and sellers. This implies that the agent will have easy access to all other major properties listed by other representatives. Both the agents of buyer and the seller work full time as real estate agents and they know what it takes to get a deal together.

• Negotiating Is Tricky Task

Many people don’t appreciate the idea of undertaking a real estate deal through an agent. They feel that it is easy to negotiate between buyers and sellers in a transparent manner. This is true till some extent but unfortunately, this isn’t always an easy liaison. Dream HomesChennai states that an agent can help by speaking on your behalf in hard-hitting transactions and smoothing things from getting too messy. This puts you in a better position to acquire the house of your dreams.

• Contracts Can Be Tough To Handle

An experienced real estate agent deals with complicated contracts and conditions recurrently, and is well-versed with which conditions should be applied, when they can carefully be removed and how to use the contract in your favor, whether you’re buying or selling a property.

Some Powerful Ways Real Estate Can Make You a Millionaire

As per the experts of Dream Homes, investing in real estate is the best mode of generating great returns in the current scenario. Although, just because you purchased a piece of property doesn't mean you're going to make riches. As Dream Homes Developers state, big wealth is generated through realty investment by capitalizing on "the four wealth generators of real estate." Single-handedly, each of these can help you make more money, but jointly they'll make you wealthy.

 1. Cash flow

Cash flow is the additional profit available after all of the fixed expenses have been paid on a property. For example, if your rental property generates INR. 50,000 in income and your expenses came to INR. 40,000, your total cash flow would be INR. 10,000 per month. Obviously, "ten thousand Rupees is not going to make you a millionaire." But remember, it is just one of the money generators. There are still three more to go!

2. Appreciation

Here, the term appreciation refers to the opportune rise in value of real estate. For instance, if you purchased a property for 20 lakh a decade ago, and today that property is worth 60 lakh, the appreciation made you 40 lakh richer! Of course, appreciation doesn't lead to increase in values every year. However, traditionally, real estate prices have remarkably increased over the long term. Hence, appreciation single-handedly is not going to make you a millionaire, so it is recommended not to indulge in bad deals in hope of appreciation.

3. The loan pay-down

When you buy a leasing property with a mortgage, you have to make a payment to the lender on monthly basis. That payment incorporates two parts: principal and interest. Interest is the revenue for the lender, but the principal is amount that you are paying down the loan with.For example, if you purchased a property five years back for $100,000 and acquired $80,000 mortgage (we’ll consider it was a 30-year mortgage with a 5 percent fixed rate), at present you would owe only $74,000. Ten years down the line, you would owe only $65,000. This indicates that each year your equity increased, as long as the value of your property didn't fall.

4. Tax benefits

Lastly, tax benefits provided by the government to investors are the fourth wealth generators in real estate investment. But you should definitely confer with a professional CA before making any financial or tax decisions.

Here are some Top Myths about Real Estate!

Everything you read on the internet is not necessarily true. Real estate myths are too common, some of them might be true while other are absolutely bogus. Whether you are a purchaser or a seller, the real estate world can be a mystifying place to navigate. In order to separate facts from fictions, Dream Homes presents some common myths you need to debunk. With this you can make the smartest choices, rather than just believe what you hear.

Myth #1: Agents quote higher sale price for receiving higher commission

Real estate agents are sincere professionals who want you to get a dream home at the accurate price. Your real estate agent will help you to work on different offers on a home to settle on the best offer amount. For instance, in a variegated offer situation, you might make a higher offer so that you have a good chance of cracking the deal.

Myth #2: Listing home at a lower commission will help you earn profits

Generally, we hire a Real Estate agent for his experience, negotiating abilities, and his verified track record. Best agents do not rebate their services because they don’t need to. None of the realtors will market your home properly if you discount their services. So in order to crack the best available deal, you need to keep your agent satisfied.

Myth #3: Realtors get bribes from dealers, inspectors, etc.

Not only is this deceptive and immoral, but as said by RESPA (The Real Estate Settlement Procedures Act) it is unlawful. No professional Realtor will put his career and reputation at risk just to earn a bribe.  The only reason agents give you recommendations for various vendors is because they have built professional contacts with these people. This only helps to certify a flawless transaction for everyone involved.

 Myth #4: You can save money by not hiring a real estate agent

It’s true that you can get your home sold by listing it yourself and saving the listing commission. Majority of the buyers hire an agent and indirectly you will have to seek an agent’s help to find buyer. They will usually ask you to sign a One Party Listing Agreement before introducing their buyer. This means that you agree to pay them a commission. Hiring an agent means that they will help you to make the best decisions when buying or selling your home.

Old Home Vs New!

During the time of buying a home many people struggle with confusion that whether to purchase a brand new house or to purchase a house that is up for resale? A few individuals feel that buying a house or property involves a great deal of money so when they are spending such huge amount of money then why should they settle for something that is second hand. On the other hand some people feel that buying an old house is a brilliant way to cut down the huge cost involve in the while process.

Real Estate experts from Dream Homes say that though it’s better to buy new house but this decision depends entirely upon a person’s personal choice and financial position also plays a key role in it. Read on to discover two major reasons why buying a new house is a superior alternative for you:

• You’ll have to make adjustments in an old house:

This goes without saying that if you purchase a used house then you would have to make a lot of adjustments. For example if you feel that a room is a bit congested or the roof is too low then you can't do anything about it. The only alternative is to reconstruct it which would obviously require you to spend some additional cash. Then again on the other hand if you purchase a new house then you can plan the outline according to your needs and requirements.

• No Hidden Costs:

A newly constructed house the total cost covers everything. This means that you won't feel the need to shed out additional money in the denting and painting of the house. On the other hand in case of an old house you might need to spend some more money in the form of various hidden costs.