Sunday, October 13, 2019

Important Tips For Property/Apartment Purchasing

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Buying property is not something you do every month or every year hence being vigilant prior to making purchasing decision is very important.

Whether you are considering an apartment for your own living or investing your money to make some passive rental income, a careful approach will lead to more satisfying experience and better value for money outcome. Thinking on the same lines, below Property Investment Guide has been prepared containing 19 aspects for your consideration.

1- Cost Analysis :

The foremost important question! Before making your mind for a specific property, check market price for similar properties from local agents (minimum 3) or respective market portal/website. Consider that fact that local agent and online property portals will quote the same price for the highly sophisticated/educated societies whereas for emerging countries or less-educated countries, asking price mentioned on website is usually 10-15% higher than the actual market price. Know the right numbers with thorough search.  

2- Built-Up Area Vs Carpet Area:

Remember, construction area and livable areas are different. Construction Area or Built-up Area (BUA) is actual used area of an apartment. Built up Area is the carpet area plus the thickness of outer walls and the balcony. Some apartments/houses might have large balconies which may not prefer specially for hot climate countries.

3- Cost per Square Foot:

Cost per square foot can give you a quick idea about your investment Vs Size. Posh areas would have higher cost per square foot. Most of the mature websites/portals usually show this value automatically. Check the cost per square feet value for similar apartments for quick comparison.

4- Annual maintenance cost:

If you are purchasing the unit/house for investment, remember the fact that your take-home income is after the payment of maintenance cost.. Maintenance cost are usually calculated on per-square feet basis. In some buildings, maintenance cost is paid by tenant to the building management whereas for other countries, the owner is required to pay the maintenance charges (Monthly or Quarterly). Check who will be paying maintenance charges and how much.

5- Currently rented? If not, why not?

Many investors prefer to purchase the unit/house which is already rented because they know how much they are going to earn out of it and also they want to start their income as soon as apartment is purchased. If the unit you plan to purchase is not rented, try to find out the reason. Probably, the building is not in-demand in the vicinity or tenants have more new buildings available in the community or the building has maintenance issues etc. Speak to the tenants and find out!

6- If Rented What is ROI?

Your Return on Investment ROI = (Annual Rent – Annual Maintenance Charges)/Total Investment
For example: you purchased an apartment in $600000 having annual maintenance cost of $10,000. If the annual rent is $50,000 then the ROI = (50000-10000)/600000 = 6.7%.
Each property market has different ROIs. On a general note try to invest where ROI is 7% or more.

7- Closed Kitchen Vs Open Kitchen:

Consider the most-likely nationality of the tenants of the area. European/American tenants usually prefer open kitchen setup whereas Asian wives mostly prefer closed kitchens to manage their large crockery. Since you want to be a good investor, always consider end-user perspective else not a lot of tenants would be interested taking your unit on rent.

8- Balcony Availability:

Most of the tenants would prefer the apartments with balcony for evening chit-chat, for drying their clothes or for simply placing kids cycle or other stuff. Depending upon the type of community (congested community vs wide area community or nice-view community) the size of the balcony also matters.

9- Free hold vs 99 year lease:

If you are expat or investing in another country, always check the land/apartment ownership rules. In some countries the ownership is granted for 99 years from the date of construction. Although you are not going to live this much, but at the time of selling the unit, the new buyer might prefer buying free-hold property. None the less, 99-year lease will also be sold out sooner or later because human psychology is different for everyone!

10-  Builder Repute:

Always prefer to buy an apartment which was built by reliable builder. Check the reputation of the builder prior to making buying decision. Don’t just go for the outlook of the construction. All that glitters is not gold. It’s quite easy to make a poor-quality building look awesome. Beware of dodgy builders. Don’t get deceived.

11- Community Services at walking distance?

Community services are very important aspect of any living. You don’t want to purchase a fantastic apartment with all the great feature but do not have schools, markets, parks, pray areas, banks and hospitals nearby. Such a waste of investment !

12- Security, Gym, Pool availability:

In-building features are equally important. Many tenants prefer to stay in buildings having gyms and sauna. If the family has kids, they will love having kids play area and pool. Also check the security features of building such as physical appearance of guard, wireless remote based car parking entry and CCTV in lobby, common area and parking.

13- Car Parking included?

Check how many car parking are being provided. Are parking slot shaded/covered? You would not like to park your car outside the building which is prone to dust, sun and even stealing.

14- Built-in Wardrobes?

Some architects consider providing built-in wardrobes. This is to facilitate the tenants to move to the apartment without much hassle of being new cupboards. This is definitely an ad-on you should consider. 

15- Number of Washrooms?  Extra Store Room? Maid Room?

Extra rooms are definitely a plus however with large apartment space, the investment will also be higher. If you are buying for your own, do your need vs wants analysis and make decision based on your buying capacity.

16- Take Your lady:

Sorry, I am writing this recommendation at number 16, whereas it should be one of the top considerations. Highly recommended to take your wife, daughter, mother, sister to see the apartment because females have that strong critical aesthetic sense which males simply don’t possess. They will surprise you by looking into the nitty gritty of interior designing aspect.

17- Agent Reliability and Legitimacy:

Remember, agents work to get commission. Be strict, logical and analytical when dealing with agents. Agents are simply sales person trying to sell a product which means you may become their victim if not being careful. Verify agents credibility by checking his (and his company’s) repute, asking for his legal identity, visiting their office and checking his LinkedIn profile. Never pay anything (cash or cheque) without proper legal documentation. 

18- Cash vs Mortgage:

Personally I do not recommend mortgage approach. Firstly, you do not have clear understanding about your rate of return on investment since you have to pay monthly charges for many years of your life. Secondly, having a liability of returning massive amount of loan causes psychological pressure. I know many people who have lost their peace, got sick and deteriorated relationships due to loan stress. Think twice before you take any decision involving financial liabilities. 

19- On-Plan vs Off Plan:

Generally speaking off-plan investment generates more profit however it requires careful ROI calculations and good understanding of future-cost-analysis of the property. While doing the analysis you need to consider:

  • Currency depreciation factor (especially if you are a foreigner and investing in emerging countries where currency value depreciates drastically), 
  • Revenue which you could have earned if not invested in off-plan.
  • Assurance from the builder on whether the forecasted completion date will be ensured. If not what compensation will be given to you? What are your rights as an investor and how the legal entity of land department is protecting you.
  • Check the financial status of the building company. Seek guidance from local agents or real estate companies.
  • Consider taking legal counselling before you sign the deal for off-plan  
  • What are the exact deliverables of the off-plan property (furniture details, tiles finishing, paint type etc. 
  • Check all of the features which are mentioned in this article above. All deliverables should be written in the contract. 

Thanks to Mr.By JunaidTahir 
This article appeared on originally.

Health Benefits of eating Banana

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Ripe, rich and delicious – bananas are one of most popular fruits that are easily available all year round. However, there are some weight watchers who will raise their eyebrows if they are asked to include it in their diet. They will soon know why this awesome fruit deserves to be loved and eaten.

It is a versatile fruit that contains many nutrients including vitamins A, B, C and E along with minerals like potassium, zinc, iron and manganese. Just as eating a banana helps in keeping your body in good health and great shape, application of this fruit on your hair and skin will help you to keep them in great condition.

The local names of bananas in India are kela (Hindi), Arati Pandu (Telugu), Vazhai  Pazham (Tamil), BaleHannu (Kan nada), Ethapazham (Malayalam), Kella / Kela (Punjabi), Kele / Kel (Marathi), Keda (Gujarati), Kollaa (Bengali).

Amazing Benefits And Uses Of Banana For Skin, Hair And Health

Bananas are exceptionally healthy as they provide numerous health benefits. 

1. Gives Instant Surge of Energy:
It does this by converting the natural sugars into instant energy and this is one of the reasons sportsmen consume it during intervals.  Bananas are an excellent breakfast for kids and adults as it provides required energy throughout the day. This probably the most popular health benefit of banana.

2. Helps Keep Blood Pressure Under Control:
Research indicates that potassium keeps blood pressure under control and improved consumption of calcium, potassium and magnesium can also help decrease high blood pressure. Bananas are rich in potassium, calcium & magnesium, so it is a healthy option for keeping blood pressure in check.

3. Helps Lower Cholesterol:
It is said that Pectin which is a soluble fibre in banana helps to lower Cholesterol levels.  According to researchers, fibres that are water soluble such as pectin, psyllium, beta-glucan etc., lower the LDL Cholesterol without disturbing the HDL cholesterol

4. Supports Renal Health:
Bananas being a rich source of potassium, if consumed regularly in moderation, promote renal health. The International Journal of Cancer states that Bananas being a rich source of antioxidant phenolic compounds, if consumed together with cabbage and root vegetables protect renal health.

5.. Improves Nerve Function and Enhances Brain Power:
Banana is a rich source of B vitamins and therefore perks up nerve function.  Potassium, in banana keeps the mental faculties vigilant and boosts learning abilities.

6. Decreases The Risk of Stroke:
Studies indicate that regular intake of bananas in daily diet helps reduce the occurrence of stroke and this is due to the high amount of potassium.

7. Reduces the Risk of Cancer:
Rich in antioxidants and dietary fibre, consumption of bananas reduce risk of various types of cancer, especially bowel cancer..

8. Helps Build Healthy Bones:
Probiotic bacteria present in bananas is said to have astonishing ability to absorb calcium in the body. Hence, consuming bananas help in building better bones.

9. Enhances Digestive Ability:
It is very rich in fructooligosaccharide which acts as a probiotic (friendly bacteria). It stimulates the growth and activity of probiotics in the colon and produces enzymes that enable absorption of nutrients thus enhancing the digestive ability and preventing unfriendly bacteria from harming the body.

10. Helps Combat Stomach Ulcers:
Certain substances in bananas stimulate the cells which make up the stomach lining, this enables production of a thicker protective mucus barrier against stomach acids.  Also the substance known as protease inhibitors in banana, help getting rid of bacteria in the stomach that produces stomach ulcers, thus protecting against damage of stomach and ulcer.

11. Helps in Controlling Diarrhea:
Raw bananas are astringent in nature and are effective in treatment for diarrhoea.  They also regulate fluid balance.

12. Relieve from Constipation:
Pectin found in Bananas, help to alleviate constipation and improves bowel function.

13. Helps in Curing Piles:
Since bananas help regulate bowel movement they help cure piles.

14. Helps Regulating Anemia:
Bananas are good for Anaemic patients as they contain high levels of iron which help regulate the haemoglobin levels in the body.

15. Helps Alleviating Heartburn:
The antacid substance in banana gives immense relief from heartburn

16. Prevents Allergies:
The presence of benign amino acids in banana helps combat allergies.

17. Helps Withdrawing Smoking Urge:
Vitamins B6 and B12 along with magnesium and Potassium in Bananas helps recover from nicotine addiction

Also read about   Nutrition Facts of Bananas: