When old is gold: Add a vintage touch to your home décor

November 2018

When it comes to home décor, a vintage look is always in style. We look at some simple ways, in which home owners can recreate an old-world charm in modern homes

A ‘vintage décor’ can be defined as an interior design theme that incorporates elements of the past and in particular, the best elements of a particular time. Prachi Chavarkar, co-founder of ArchiLab Designs, explains that a vintage design can be associated with a region (for example, Rajasthan, Maharashtra or Kerala) or even architecture belonging to a particular era, like Indo-Saracenic (or Indo-Gothic or Mughal-Gothic). “In terms of a global look, it can also be British, French or colonial design. Some may also call a local historical look as ethnic but it is a part of vintage décor,” adds Chavarkar.

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Elements of vintage décor

Home owners can remodel their homes based on a vintage theme, by either recreating the style or bringing in old décor elements, such as distressed furniture, a grandfather clock, ceramic tableware or even a sword hanging on the wall, into the design.

“Wall plaster treatment that mimics Greek architecture or red oxide flooring, for example, could instantly give the space an old-world charm. An old metal trunk, placed right at the center of the living area, can add an element of nostalgia and serve as a functional coffee table. Old bamboo rocking chairs, incandescent or industrial lighting, wooden fans, bohemian carpets, are all simple examples of this,” states Sameer AM, founder and CEO, Bonito Designs. Floral soft furnishings or wallpaper, add a vibrant colour to any room. “For fabrics, opt for jute, cotton and recycled fibres with muted floral patterns, to add a soothing feel. These are ideal for a vintage look,”

Antiques and souvenirs as décor accessories

People often collect old antiques or souvenirs, from the various places they travel to. A home owner may also have inherited many artifacts and antiques. “It is a nice concept to showcase antiques in your space. However, these items should be displayed with a lot of thought and care. When you display numerous pieces from different locations, historical periods, types and materials, one has to be mindful about the order of display. Depending upon the size, scale, material and type, they should be properly framed or placed. Ideally, these should have a showcase or a background/surrounding that complements the items displayed,” Chavarkar suggests.

Colour scheme for a vintage home décor

Vintage-looking furniture, made from old reclaimed wood or wood that looks colour-washed and weathered, are in vogue. Winged chairs or a royal armchair, can be used as accent pieces. The flooring, from designer cement tiles, wooden floor, carpets and area rugs, should have colour schemes that enhance the vintage décor. While designing the home, decide the colour scheme or materials for the vintage theme, based on the size and volume of space and the amount of natural light that is available.

Sonali Puri, a home maker from Delhi, who designed her house on a vintage theme, shares that “I have silver and brass artifacts, which are family heirlooms. I have also been collecting antique curious like jharokha frames, textiles and lithographs for a long time. In my living room, I have framed and put up an old textile tapestry with rich embroidery, as a backdrop. A silver-plated divan that belongs to my grandmother and silver frames, with family photos in black and white, add to the vintage look. I have tried to maintain a balance between the modern and antique. For example, the dining table, which I picked up from Chor Bazaar in Mumbai, has a pedestal of the teakwood and a glass top.”

Dos and don’ts for remodeling a house to add a vintage look

• Ideally, the colours in a vintage-themed home, should be shades of blue, pink and peach.
• Wallpapers with floral patterns, are ideal for this theme.
• For furniture, opt for old designs, like a carved four-poster bed, an ornate dresser or a maharajah chair.
• One can have a mix of themes but it should be handled carefully. Mix old pieces with modern design elements, to create a perfect amalgamation.
• Understand all the details of the era, so that there is no messy mismatch. Do not overdo the theme as the home may end up looking like a shop that sells vintage items.
• Gold and silver accents and accessories of matte or shiny finish, can add some sparkle. So, opt for interesting lamps, frames, knobs and door handles.

Also read: Vastu tips for positive energy at home

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Source: housing.com

5 reasons why this festive season is the right time to buy property

November 2018

If you have been protracting your decision to buy a house then this festive season is the right time to loosen your purse strings. Although the festive season is considered an auspicious time to buy new things, including real estate, here’s a list of five reasons why prospective home buyers should buy a property now.

Credits : Freepik.com

Unsold inventory

Post the real estate slowdown, most developers had been waiting for the re-emergence of positivity back into the market. Buyers’ renewed enthusiasm in the real estate has brought cheers for developers who are now trying to liquidate their existing inventory and recover costs. To make the most of this development, builders are offering a number of discounts and freebies to attract end-users.

Low property prices

Your focus when it comes to building equity at a faster pace should be on the two factors that dictate your total ownership:

Property prices have decreased in the last couple of years. Although prices have remained stagnant for a while now, this is the ideal time to indulge in a hard bargain with the seller to extract the best deal for yourself.

Discounts and freebies galore

Developers are trying to encash the market sentiment and attract buyers by offering them freebies to make the deal look attractive. Munish Mishra, Sales Head, Wave City, says, “There is no better time than the festive season to avail attractive offers. We have tied-up with LG to offer various products such as AC, refrigerator, LED TV, washing machine, oven, etc. to our customers.” But a word of caution, don’t fall for the freebies instantly. Judicially analyse the freebies and try to monetise them as well. You may ask your builder to give you the value of the freebies as discount on the property and if the offered price is reasonable then go ahead and accept the offer. If festive offers from developers include important amenities such as free car parking, then go for them but make sure to bargain hard on the final property price.

Lower home loan rates

Lowering of repo rate by the Reserve Bank of India has led to a decline in the home loan interest rates. In September 2017, banks were providing home loans at an interest rate of 8.35% which is attracting home buyers. Renu S Karnad, Managing Director, HDFC, says “low interest rates help buyers in reducing their borrowed costs. Interest rate is one of the important factors that a home buyer looks at while buying a home. Lower interest rates not only helps in reducing the borrowing costs but also improves their loan eligibility.” She further added, “CLSS under PMAY for interest subsidy of 6.5% for EWS and LIG categories and the extension of the scheme for MIG category (interest subsidy of 4% on Rs 9 lakh loan and 3% on Rs 12 lakh loan) by another 15 months till March 2019 is in itself much more than a festive offer.”

RERA-compliant projects

A RERA-compliant project means that the developer can’t take you for a ride anymore. Policies like RERA and GST have instilled a sense of compliance in developers and thus, they are most likely to fulfil their promises now. Sanjay Shenoy, Joint Managing Director, Legacy Global Projects, also expects such policies to bring cheer to the market. He says, “We expect a marked upswing as buyers are now more confident that their interests are being taken care of, with a strong policy in place.” Adding that there are attractive options for buyers this festive season, he explains, “There is a plethora of attractive options for a home buyer today. Differed payment schemes, EMI free investment options and other flexible payment options which reduce the cash flow burden of clients continue to be a big hit.”

Also read: Own a Home? 4 Ways to Build Equity Faster

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Source: timesofindia.indiatimes.com

Own a Home? 4 Ways to Build Equity Faster

October 2018

A home is one of the biggest purchases you’ll ever make. And while it’s much more than just an investment, there’s no denying the importance of maximizing ownership in your property. Your home equity can be used for everything from future remodels and improvements to retirement, so the more you have of it, the better. Fail to plan ahead though and you could miss an opportunity to build the biggest stake possible. So how can you build equity faster? Let’s cover the basics.

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What is home equity?

Home equity is the current value of your home minus the amount that you owe on it. Ideally, you want your home equity to be as large as possible.

Wealth in your home is a long-term goal, and not something that will happen right away. Unless you paid off your entire home in cash before moving in (and let’s be realistic—most of us aren’t doing that), then it’s going to take you awhile to get that number into the positive. Gains in your individual ownership happen as you pay off more of your mortgage and if/when the market value of your home increases. And fortunately, you can take active steps to make both of these things happen sooner than they might otherwise.

How to build equity faster

Your focus when it comes to building equity at a faster pace should be on the two factors that dictate your total ownership:

- How much of your mortgage you’ve paid off
- How much the value of your home has increased

If you can speed up the process on both of these, you can speed up the rate at which you build equity. Here are four ways to do it.

1. Make a larger down payment

You can’t go back in time and change how much you put down for your home, but if you’re reading up on how to build equity faster before closing on a property, this is definitely something that you will want to consider. The standard down payment on a house is 20%, though many people put down more or less than that. If you have the cash and you’re looking to increase your equity as quickly as possible, it’s worth it to write a bigger check up front. Not only will you lower your interest and monthly payments, but you’ll also be that much closer to owning a positive stake in your home.

2. Purchase a lower priced home

Here’s another one to consider before you even start looking. A highly-priced home will net you more equity in the long term, but it will take a long time. With a lower-priced home, you’ll be able to offer a bigger down payment and possibly shorten the term of your mortgage as well. Banks are profit-driven, and the amount of money they tell you that you can spend on a house isn’t necessarily what’s smart to spend. Think of your own budget and financial goals, and choose a home that will allow you to pay more and pay faster.

3. Prioritize paying off your mortgage faster

What’s standing in between you and full ownership of your home? Your mortgage. Every month that you pay money toward your mortgage you’re contributing to both the principal and interest on your home. The principal goes toward your home equity, the interest toward your lender. The goal then is to pay toward your principal as much as you can, in turn paying more toward your own net worth. While the thought of putting even more toward your mortgage every month than you already are may not seem all that appealing, the pay off is surely worth it. Try incorporating one or more of the following tips for paying off your mortgage faster and see if it works with your resources and budget.

- Round up every month. A little bit can go a long way. If your mortgage payment is $1,225 a month, for example, give $1,300 instead. An extra $75 (or $50, or $25) may not seem like much in terms of your home’s total cost, but it will go straight to principal and your home equity.

- Opt for a shorter mortgage term. When it comes to mortgage terms, a 30-year fixed loan is the go-to. But if you’re okay with taking on a larger monthly payment, you can choose a shorter term mortgage and build equity much faster. If you originally went with a 30-year loan but now have the means to reduce it, look into refinancing to a shorter term.

- Funnel gifts, bonuses, and your tax refund into your mortgage. Think of your home equity like a savings account and consider that anything extra you put into it is essentially being saved for later use. By that logic, it makes sense to dedicate all or a portion of any extra money you make during a year to your mortgage. Different lenders have different rules about extra payments, so talk to your lender and find out what the terms are, and be sure to verify with them that the extra amount will be allotted toward principal, and not interest or interest-plus-principal.

- Make an extra payment each quarter. Set aside money every month toward an extra mortgage payment and once a quarter apply it to your principal. You’ll save a ton of money in interest and could shave years off your 30-year mortgage. Again though, first be sure to find out what your lender’s rules are about extra payments.

4. Improve your home to increase its value

There are a lot of factors at play in terms of how your home’s value appreciates, including the economic growth of your neighborhood, supply and demand, and proximity to certain amenities. And while you don’t have much control over those, you can affect your home’s market value in a positive way by keeping your home well maintained and putting in certain improvements.

Some improvements net more returns than others, so be sure to focus on those instead of wasting money on things that won’t necessarily add value to your property. Remodeling offers Cost vs. Value data for home improvement projects that is searchable by your own city or region so that you can see exactly what’s getting the biggest bang for its buck in your area. You may be surprised to learn that a mid-range bathroom addition will pay off more than an upscale bathroom addition, or that there’s a lot of value to be gained by improving the accessibility of your home.

In addition to home improvement projects, you should also be taking care to maintain your home in the best shape possible. Regular maintenance activities like cleaning out gutters, replacing filters, and making small repairs as they come up will all help your home hold its value so you’re not losing equity through decreased market worth.

The big takeaway

There’s a lot to be gained from making a concerted effort to build equity in your home faster. Putting in more money now might seem difficult to imagine, but it’s almost certainly going to be worth it in terms of your future financial health.

To figure out what’s right and doable for you when it comes to building equity, crunch the numbers either on your own or with the help of a trusted financial advisor. See what it will take to knock a couple years off your mortgage or to chip away at your principal more than you already are each month. And if it’s not financially feasible right now to increase your rate of equity building, don’t worry—while it’s better to start early, starting late is better than not starting at all.

Also read: Vastu tips for positive energy at home

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Source: moving.com

Vastu tips for positive energy at home

The energy flow in a house is greatly influenced by its construction and the décor in the house. We look at some simple ways in which home owners can boost the positive energy in their homes

Each one of us desires to live in a home that is comfortable, calming and rejuvenates us. It is important to understand that the energy within a house, affects the people who occupy it. “One’s environment helps in building a foundation for a healthier mind and body and Vastu Shastra offers ways to create a healthier life,” says Nitien Parmar of VastuPlus. “If followed correctly, Vastu Shastra can help the home’s residents to become physically and mentally healthy,” Parmar adds.

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Vastu tips for the main door

Vastu principles improve a living space, according to the principles of harmony and energy flow. The main door of a house is the entry point for energy. “A door that opens outward pushes energy away from home. So, have the main door opening clockwise. Opportunities may be limited, if the door does not open fully. Ensure that the lobby near the main door is not dark. Good lighting stimulates positive flow of energy and promotes balance and harmony within the premise. Every house should have a threshold (umbra) on the floor, at door frame. It protects the house from external negative influences,” adds Parmar.

Declutter for positive energy

One can positive energy into a house, by decluttering and cleaning the space. Clutter creates stagnant energy and impedes the flow of positive energy. Avoid keeping chipped, cracked or broken things. Clean the cupboards and drawers and clear things that are no longer in use. Keep the house clean and ensure that there are no cobwebs. Add few spoons of sea-salt to the water and mop the floor with it. It is believed that mopping the house with salt water, will reduce the effects of negative vibrations.

Vastu-compliant construction

There is a strong connection between the energy of the house and the health of the occupants, maintains Rasesh H Shah, energy facilitator and Vastu expert. “Ancient architecture was all about proportions and planning the structure in a manner that it is always in sync with the magnetic field of the earth and harmony of colours. It is most important to commence the construction at the right moment (muhurat) and to use non-offensive building materials. Every built space has three types of energies – cosmic, earth and structural. To make the space positive and to ensure that all three are in harmony with each other, keep the centre of the space, which is called the Brahmasthan, free of any kind of structural violation. This will ensure that the flow of cosmic energy is balanced. Earth energy can be balanced by keeping the north-east corner lively. Structural energy can be harmonised, by ensuring that there is no clutter in the space,” advises Shah.

Rectifying Vastu faults

According to Vastu experts, one can also attract positive vibes to enhance the health and well-being of the occupants, by simply arranging or correcting items in the surroundings. “If the bathroom is directly opposite to the kitchen, keep the door closed and use a Vastu energy partition on the door frame to separate these opposing energies and to block the negative energy,” says Parmar.

“Mirrors bounce back energies. Hence, if the bed on which one sleeps, is in the line of the mirror, it is advisable to remove the mirror or to cover it, for better sleep. A tulsi plant is a must for the home, as it clears negative energy,” concludes Shah.

Home décor tips for positive energy

• Fresh air and sunlight aids positive energy at home. So, ensure that you keep the home’s windows open, for some time in the morning.
• Aquariums are akin to moving water and it is auspicious, when placed towards the north-east.
• Avoid having a tree, pole or pillar facing the main door. It is called a dwar vedh (door obstacle). Similarly, avoid having dead plants near the door.
• Keep the bathroom door closed. Always keep toilet lid down, when not in use. Ensure that there are no leaking taps at home. Use pleasant fresheners in the bathroom.
• Do not keep medicines in the kitchen.
• Switch off all electronic and Wi-Fi systems, while taking rest.
• Play soothing divine music or chanting of mantras at home, for some time in the morning.
• Ensure that the furniture edges are not sharp. Avoid excessive use of red, black and grey in the home’s décor.
• Avoid having split levels in the floor.
• Pictures at home should always be positive. Avoid photos depicting war, loneliness, poverty, etc. To generate positive energy, display pictures of nature.
• For a calming effect at home, light a diya, camphor or add soothing fragrance like sandalwood.

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Source: housing.com

Basic rights that tenants and landlords need to be aware of

When it comes to rental accommodations, there are some basic rules and rights that tenants, as well as landlords should be aware of, to avoid friction. Here's a look at some simple, yet, commonly overlooked aspects

People who live in rental accommodations, often face disputes on minor things with their landlord. It is, therefore, essential to know what your rights as a tenant are, as well as the rights of the landlord. Both parties must respect these rights, to live in harmony.

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Basic things that the landlord must provide with the property

According to Nishit Dhruva, managing partner, MDP & Partners, “The most basic requirements that a landlord (licensor) ought to provide to the tenant (licensee) under the common Leave and License Agreements include:

• - Accurate details of the licensed premises, such as the size of the premises, availability of car parking area, etc.
• - Willingness and cooperation to get the leave and license agreement duly stamped and registered, at the sub-registrars office.
• - Uninterrupted use and occupation of the licensed premises.
• - Safety and privacy to the licensee, to use and enjoy the licensed premises.
• - Clear right, title and interest, to provide the licensee with the license to use and enjoy the licensed premises.

Tenants should inspect the apartment for defects and make a note of them, by taking a photo to share with the landlord. They should ensure that the plumbing systems (including the water pressure), electricals fixtures and other provisions in the apartment are in a usable condition. Some tenants also request that the landlord repaint the walls, before they move into the apartment.

When should the deposit be handed over to the landlord?

“The deposit is usually an advance given by the tenant to the landlord as a security, while moving into the rented apartment. The purpose of the deposit is to protect the landlord, in case of any damages or alternatively, in the event of any non-payment by the tenant. The payment period for the deposit is usually stipulated in the agreement with the landlord. The deposit is typically inclusive of administrative fees. Any grounds for deduction from the deposited, should be specified in the agreement. The deposit is returned to the tenant after the completion of the tenancy period, assuming that there are no deductions applicable,” explains Shubika Bilkha, business head at REMI.

Who bears the cost of repairs in a rental home?

Experts believe that ideally the licensor should bear all costs arising out of wear and tear and structural damage caused to the licensed premises, on account of the monthly license fees enjoyed by them. However, most of the parties come to an understanding, whereby, the licensor bears the costs of all long-term structural damage, while regular wear and tear is borne by the licensee.

Under what condition can a landlord ask the renter to leave the property?

A landlord can ask the tenant to vacate under two conditions:

• - Eviction with a cause and
• - Eviction without a cause

Dhruva elaborates: “Landlords can allow the tenant the pre-decided notice period, to look for alternate accommodation, in case of eviction without cause. In most situations, the following causes can be a reason for eviction:

• - Consistent delay in the payments received from the tenant.
• - Violation of a term or a condition specified in the agreement.
• - Illegal activities on the leased property.
• - Serious damage to the rental property.”

Increase in rental

Increase of rent is entirely up to the understanding arrived at between the licensor and the licensee. Strictly as per the law, there is no cap on such increase and the licensee must negotiate and settle on fair terms, in respect of the increase in rent.

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Source: housing.com

Real Estate Investment: Why Navratri is a good time to buy property

Navratri is considered auspicious to buy new assets. With the onset of this festival, real estate developers also come up with their special offerings for buyers.

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Things to consider, Why Navratri is a good time to buy property

Navratra or Navratri is a nine-day festival celebrated across India with great zeal and vigour. It involves worshipping nine incarnations of Goddess Durga. In India Navratri is celebrated twice a year: Chaitra Navaratri normally falls in the month of March-April and Shradiya Navaratri is usually celebrated in the month of October or November.

This period is considered auspicious to buy new assets. With the onset of this festival, real estate developers also come up with their special offerings for buyers. Usually, developers offer discounts on property prices during this festival season. The offers, however, are generally for a limited period or on specific days. For example, a discount on the per square feet rate on the last two days of Navratra is a common practice. Developers also offer free gifts during this time. The commercial real estate fraternity remains quite upbeat about the festive season and looks forward to the start of new projects. Some developers start the construction of new malls, retail shops etc.

Banks also encourage property buying during the Navratras by offering several schemes. These schemes include lower interest rates, waiver on processing fees, and faster processing of the loan, etc.

These days are considered highly auspicious; purchasing made during this time is believed to bring good luck, opulence and wealth to the buyer. Especially the real estate sector sees a massive boom during these nine days.

However, despite the offers being lucrative, experts suggest that buyers should not fall for these and must conduct a thorough research before making a buying decision. Buying a property is an important decision in a buyer’s life and all required parameters such as builder reputation, location, specifications and etc should be checked.

Whatever be the case, the Navratra season is believed to be a good time to buy property and if you are looking to invest in property, then this may be the right time for you.

Also read: The home buyers’ guide to choosing the right amenities

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Source: financialexpress.com

Design must-dos for doing up a weekend home

While a weekend home can be a relaxing getaway, home owners need to ensure that the home is designed, according to the climate and topography of the area

Vacation homes are increasingly becoming popular as a niche housing segment, with many row house and bungalow projects coming up near metro cities in India, in the past decade.

“These second homes are mostly located on the outskirts of cities,” points out Ravi Gurav, member of the MCHI. “Consequently, the infrastructure in these locations, may not be at par with that in the city. Secondly, a majority of these locations, are either above the sea level (for example, Karjat), in hilly areas or close to beaches (for example, Alibaug),” he adds. Hence, the climatic conditions at these locations, are not the same as that in cities and this needs to be considered, before designing the second home.

Ateev Gala, executive director of the Vijay Group, feels that the climate and topography of an area, can be leveraged while designing a weekend home. “The architectural theme and concept of the second home, can boost its ‘enjoyability quotient’. For example, one can design the homes with a colonial or mediterranean theme, with ample fresh air, sunlight and natural views, to match the requirements of people,” he says.

Credits : Freepik.com

Things to consider, while designing a weekend home

A well-designed house, should keep its occupants comfortable, in all seasons. “To achieve this, one should hire an architect or engineer, who is well-versed with the kind of materials that will sustain in such climate. They must also lay down a practical plan that ensures that all the required materials are easily available and affordable,” advises Sushil Raheja, CEO, Raheja Homes Builders & Developers.

Site layout:

If it is a low-lying area, consider a raised platform for the house. If the area has trees and greenery, opt for a layout that does not harm the vegetation. One should also check the soil of the place and ensure that the drainage system can cope with the soil and water conditions.

Regions that receive substantial rain:

In such places, the humidity levels are higher during the day, while the ambient temperature is lower during the night. Hence, one should choose building materials that allow for air circulation and also insulate from the cold nights. Earth as a building material for walls, is the best possible choice and can be used in the form of stabilised blocks or as rammed earth panels. Large overhanging roofs can be used, to prevent the walls from getting soaked in heavy rains. The windows must be protected, using a chajjah or box, to prevent water from entering the house. The appliances and furniture must be properly coated, to protect them from moisture, while the the flooring should be non-skid.

Beaches and coastal areas:

These areas have very high humidity throughout the day. Hence, homes in such regions should have a well-designed ventilation and cooling system, to dehumidify the indoor air. These places also receive generous amount of sunshine and ambient temperatures can be very high during the day. Hence, a greater thermal mass for the walls – to retain the heat and not allow it to pass indoors, is very important. Locally-sourced stones or even earth, can be a very good eco-friendly alternative to regular bricks or concrete blocks. Coastal areas also have salty air. Thus, the appliances and furniture must be treated accordingly, to avoid rusting.

Climatic condition:

Ricky Doshi, director, ARD Studio explains, “Places like Lonavala, Khandala and Deolali, have climatic conditions that differ from Mumbai. They are located at a higher altitude, thereby, making the air more dry than in Mumbai. These regions receive more rainfall and have cooler temperatures in winters. These factors have to be considered, while designing the home.”

Hill slopes or mountains:

It is very important to anchor the structure properly, on such terrain.

Stilt foundations provide a viable solution, reducing the footprint of the dwelling and preventing it from getting in the way of surface aquifers, if any, along the slopes. At the same time, the superstructure above, must be lightweight and thermally insulating. Wood is a good alternative for the flooring and walls and helps to control indoor temperatures. Stone shingles can be used for the roof, to protect from harsh sunlight.

On flatter regions, stone can be used for constructing the entire building, as it is abundantly available.

Expenditure incurred

According to Ashish Bhuvan, principal architect and partner, IdeinLab Architects, “If one were to use a single set of materials across all terrains, one would end up spending more on the operational and maintenance costs of the building during its lifecycle. Hence, it is better to chose locally available materials and systems, which are cost-effective and suit the location.” However, additional expenditure may be needed, to build a house, based on the topography and types of materials that are required. In some cases, this may be 15%-20% higher than the cost of building a traditional house in a temperate zone. Also, local materials may not be available and one may need to spend on transportation costs.