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Buying a house is no more the brunt of manhood alone. There was a time when the weight of creating a permanent roof rested on the shoulders of menfolk in a family. In the last decade or so, the scenario has capsized and taken a completely different perspective.
What was once only the responsibility of men alone today has become the ambition of all regardless of gender. Especially the level of significance that independent women alone devote to owning a home is startling and, in all honesty, illustrious. A woman has been tailored to work under pressure and as a vital member of the family, she has immense issues to deal with financially. What are the important measures and precautions a woman is bound to take if she is planning to buy a house?
HM Constructions is a leading builder in Bengaluru that has been turning thousands of home dreams into a reality.
DOWN PAYMENT IS FUNDAMENTAL
There might be 10 banks offering housing loans but if you do not have the initial funding, the dream of buying a house will soon perish. Depending on the total purchase value, you should be able to stockpile a significant amount of money for down payment purposes. In addition to this, registration charges, insurance charges, taxes, stamp duties charges will cost a huge pile altogether. These are some of the steps most often people forget and find themselves in the middle of severe financial pressure. Women henceforth need to consider these steps as well while planning and saving up their down payment.
WHAT IS YOUR MONTHLY EXPENDITURE?
We are living in an era in which women have stacked owning a house over marriage. This is the level to which independent women find a permanent roof important over landing a life partner. In such a situation, the intensive urge might make you take vast steps and buy a house using a housing loan or even private loans. However, before you go out on a limb and take this drastic step, it is wise to calculate your monthly income with your monthly expenditures. The key is to put aside at least 10% of the monthly income for post-retirement / emergency purposes.
Secondly, it is important to consider if there are other people in the family like a life partner to pay the monthly interest on the housing loan you bear, if you are a single woman, the parameters to consider are even more delicate. You do not want to pour all or most of your monthly earnings on the housing loan and be left with meager money. These are the kind of steps that can land you in financial debt. To overcome this, it is advised to make sure nothing more than 30 to 40% of the monthly income goes to pay housing loan interest. Furthermore, there are a spree of banks today that offer exclusive home loans to women. These are designed especially to accommodate and motivate more and more women to become the owner of their houses. This is also seen in the low-interest rates and EMIs at which loans are offered to independent women who desire to elevate their life by being independent.
This means that you should choose a house equivalent to your financial abilities. HM Constructions is a supreme builder in Bengaluru offering both high-end and affordable residential projects.
SET REALISTIC GOALS
As independent women who have an extensive set of responsibilities, owning a home should become only one of them. Keeping in mind our capabilities and strengths, one should look for houses that are within their financial bracket. Ms. Manjusrii Manilal GM adds “During my interactions with various families, we notice that the women today are empowered to take calculated decisions on her selection of home including its financial planning, irrespective of whether she is a homemaker or a working woman. She is an integral part of the decision-making process if not the lead in it. We also notice a trend of more and more young women, wanting to be financially settled before marriage which includes having a good job and buying a nice home. Women today have financial freedom which gives them the wings to make their right choices.”
For instance, HM Indigo is one such residential project that is designed to make the housing dreams of people true. Spread on a land area of 28 acres, HM construction offers 2 and 3 BHK houses at 84 and 97 lac INR respectively. This also includes a wide range of amenities suiting both the essential and luxurious housing desires of people.
If you wish to make your housing dream a living reality, check out HM Constructions now!
For more details contact us at 080 42 555 555