Hidden Costs in Buying a New Home

You always have a plan when you are buying a house. The plan definitely has the monetary investments included. You need to calculate the budget, while being prepared that there are some costs that would be unplanned.

Other than down payments and monthly EMIs, a home comes with a lot of other costs. Here is a rundown of five hidden costs that are related to buying a new home.

 

  • Maintenance Deposit in Advance

When signing the agreement, a number of builders include a maintenance deposit for a specific period of time, in advance. The timeline could be a year, two or even 10 years in some cases. Builders make it a point to collect it as these deposits offer a stable influx of funds. The maintenance cost varies according to the location and the services offered by builders.parkons group

  • Property with a View

Who does not like a pool side apartment or one that is sea facing or garden facing? But, the time you make that choice, you incur additional costs. These are Preferential Location Charges or PLC in real estate terms. This increases your property price by a good 5-10%.

  • Parking Space

A lot of buyers have an assumption that buying a property comes with a free parking. But this is not the truth. Depending on the location, type of property and some other factors, builders charge a good 1-5 lakh rupees for a parking space. And, if you need a space of your choice, you should be ready to shell out a few lakhs more.

  • Registration and Stamp Duties

No house includes the cost of registration and stamp duties. But, when you buy a property, you need to register it and the registration comes with a price tag. Stamp duty usually varies between 7-8% of the property value. 1-2% of the property value has to be paid as registration fee to the court.

Also, include the fees of the lawyer, cover home insurance (optional), property tax, and bank inspection costs.

  • Miscellaneous Costs

Some other miscellaneous costs include:

  • Moving Charges
  • Interior Design Costs
  • Brokerage
  • Any tax reforms in the real estate sector

It is dream to buy and build your own home. Hence, when calculating the actual costs is a must. So when you sit down calculating the costs, don’t forget to include the aforementioned hidden costs. When you get down to the brass tacks of buying a property and plan your savings accordingly, you might avoid unwanted confusions and headaches later on.

 

 

Parkons Group: Defining Pune’s Real Estate

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Pune’s real estate has been one of the most sought after and high returns generating markets of the Indian real estate. Being one of the prime localities of Maharashtra, the city has always been witnessing a lot of traction from both residential and commercial property seekers and developers, alike.

parkonsgroupFactors backing up Pune’s flourishing real estate market vary from a settled commercial space that makes it an ideal joint for job seekers to the planned social infrastructures that makes it easy for people to settle with their families. The overcrowded and expensive Mumbai is another reason that has been sending people towards Pune’s direction. The amalgamation of all these and several other factors have resulted in –

  • Making the city the ideal location for property investments
  • Extension of profitability to localities surrounding Pune
  • Mixed budget property options
  • Mix of property types from lands and apartments to villas

Seeing the positive outlook of Pune’s real estate market and the positive buyer sentiment, a number of nation’s eminent real estate developers have come up with their projects in the city. While there are a number of new and renowned builder groups in Pune, the names that have contributed to the making of Pune into a premium residential and commercial hub, are very few. One of those few premium and trusted names in the city’s property market is Parkons Group.parkons group

Let us look into this reputed group in some detail –

About Parkons Group

One of the most sought after and reputed brands of Pune real estate market, Parkons Group has been offering premium office, land, and residential options to the city’s property seekers and investors since many years. Focused mainly in Pune, the group is slowly seeping into the real estate of nearby up and coming localities like Pimpri Chinchwad, Pimpalpada as well.

Every single undertaking of the land, residential, and commercial projects under their umbrella share factors like prime location, premium amenities that give a community feel to the property holders, modern technology, and state of art construction quality.

Some of the most reputed and appreciated projects – both residential and commercial – by Parkons Group that have changed Pune real estate outlook are Panacea, Supreme Plaza, Navkar Avenue, Rajvilas Complex, Sai Apartment, and Amar Plaza, among various others. While these are the ones that have already created their names and image in the city, there are various other upcoming projects under the Parksons belt, such as Navkar Park, Navkar Feel, etc. both in and around Pune.

parkonsgroupThe USP of every Parkons project lies in the fact that they are all environment friendly. Raw material that the builder group uses, from water and energy to building materials, are highly sustainable.

The trust and quality that Parkons group offers have made them one of those names that guarantees a high return on investment for the investors and a homely stay for homebuyers.

Know more about the renowned group and their projects – http://parkonsgroup.com/

 

 

 

Home Decor Tips For Diwali

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Diwali or Deepawali as the festival of lights is commonly known as brings a frenzy cleaning up of house with all ideas popping up of how to decorate and bring a new spark to the house.

Take the help of below ideas and decorate your house beautifully this Diwali:

Diyas and Candles

diwali-decor-diyas-parkonsIt is common to light diyas and candles around the festival. But you can add a spark to your home using varieties of diyas available in the market today. Today, diyas have made their way inside the living room in form of floating diyas or electric diyas. These are safe and add a beautiful dash to your room.

On the other hand, using decorative candles is one other way of giving your home a Diwali special feel.

Assorted Flowers

Asorted Flowers ParkonsAssorted flower petals especially genda and roses are a must for Diwali. It makes the house look great and smell even better.

Flowers create a positive vibe in the house whether they are fake or real. Flowers together with an elegant vase can make a world of difference in enhancing the beauty of a space.

Rangoli

diwali-decor-rangoli-parkonsA beautiful rangoli outside the entrance is an ideal Diwali decoration. You can use coloured powders, cereals or pulses tom make the rangoli. Also, you can add a different angle to it by beautifying it further with the use of lamps, flowers, earthen pots, tissues etc. Making a rangoli does not necessarily mean you have to be an artist. Drawing simple swastik and other religious signs also adds a dash to your home decor for Diwali.

Lanterns

diwali-decor-lanterns-parkonsPaper laterns are are delicate, beautiful and exotic way to decorate your home this Diwali.

Fairy Lights

You can use fairy lights in a number of ways to beautify your home. Some of them are:

  • Drape these lights on pillars outside your home, if there are any.
  • Use them on potted plants to elevate the look of your garden or entrance.

Flower Bowls

Apart from the rangoli, this Diwali have flower bowls around the house. The fragrance, the beauty is something incomparable.

Add Traditional Indian Decor

Antique Oil Lamp - ParkonsTraditional Indian decor creates the suitable vibe for one of the major festivals in India. The antique oil lamps are a great way to add something authentically Indian to your home this Diwali.  A rustic style  oil lamp with dainty bells is a beautiful pick for Diwali.

What are you going to do this Diwali? Share with us.