So, you have made up your mind it’s time to get your own nameplate at the entrance. Whether it’s because the news of the arrival of a new member or you want to turn your monthly rent into EMI, buying a new house is bound to bring about stability in your life. Own roofing gives you the confidence that you have done something good for your family via your hard work. However, first-time property buying experience is a nerve cracking with a lot of things to mull over. Here if you hire one of the trusted estate agents Romford, then you can significantly shrug off some sort of burden from your shoulder.
- Don’t Rush Things
Yes, there may be priorities at stake, but the most crucial thing a first-time buyer needs to adhere is that he/she should not rush things. Take your time to explore different localities and the property options there. Seek the advice of estate agents Romford on the location to consider based on your table. With buy a property being a once in a lifetime investment, do it wisely.
- Shop Around for Mortgages
The best way to get the best mortgage deal to fund your first house is to shop around. In this age of the Internet, you don’t have to step out of your house for this, you can do it ease from the comfort of your home. Compare multiple mortgage packages to pick the right one.
- Home Inspection
Pay great emphasis to the home inspection, it’s not just an obligatory task included in the home buying process. Instead, a thorough home inspection by a professional will help you hit upon the possible weak links of the property. They will help you know the probable expenses to incur before the move-in, such as the roofing is deteriorated.
- Get A Second or Third Opinion
While, impulsive buying is good for fashion, but not a great idea when investing in a property. Don’t fall prey for the interiors of the house, the estate agents Romford opinion is quite handy, as they understand the market and how it will shape in the coming years. They will look in several factors such as the public transport facility in your proposed locality.
- The Paper Works
The amount of documentation associated with buying a new property is a big hassle. But, buy if you have hired an estate agent to do that, then you can breathe a big sigh of relief.
The above first-time property buying tips are following. But, it is even more important to get by your side someone who has years of experience in real estate along with the market knowledge to guide you with your property buying venture.
Sukanya Samriddhi yojana calculator – A unique way to save tax
With this development, we believe that people’s mindsets change. Gone are the days when boys are edging more than their counterparts. And in every stage of life today, fit boys limit women to attract the ultimate short straw. Although equality will now increase between the two sexes, investment remains an area where women continue to focus on their parents. One of the main reasons is that a strong part has not been given to the importance of most people he is short of money. The government has taken the right steps in this direction and by launching several schemes, you can financially empower your child to save tax. One of the same scheme is the Sukanya Samriddhi yojana calculator. In this blog, we will discuss in detail plans, provisions and how you can use it to protect.
About the plan Sukanya Samriddhi yojana calculator
An initiative that has been designed for girls has gone to help them complete their education. The program was launched by Prime Minister Narendra Damodardas, 2015. Here you need to know about tax exemption: 80C
- Beti Bachao Yojana came under the auspices of the Beti Pdao campaign and wanted to build a bright future for girls.
- Parents are also encouraged to invest in their daughter welfare schemes, which offer incentives to all parties.
Salient features of the scheme
Plan Sukanya Samriddhi Some of the key elements given below –
- Flexible Investment
The girl’s parents or guardians can invest the amount that fits their budget. Investment can be between Rs 1,000 and Rs 1.5 lakh per year.
2.Multiple-way to open an account
Offices can be opened for SSY accounts or nationalized banks. It provides the flexibility of alternative plans and easy account opening.
Under the scheme, only one woman for one account.
Besides, the maximum number of accounts allowed in a family of two – one for each child. The maximum limit of the two accounts that twins were born after the first daughter does not apply.
- Age front opening
Account open to parent/child Parent, not the child reaches the age of ten years. After children make it through this age, parents are not allowed to open an account.
- According to maturity
Children under the age of accounts covered under SSY are 21 years since its foundation. Pass holders have the option to continue the account after maturity.
- During operation
Operating accounts are limited to parents and guardians for 10 years. Once the child reaches the age of 10, he can do the explained work independently.
- Indian Residents
Sukanya Samriddhi Yojana can be opened only in India for the account.
The documentation for sukanya samriddhi yojana calculator
If you want to open an account for your daughter, the following documents are required.
- Birth certificate
A copy of the birth certificate is required to open the account. You must have at least the necessary documents and a ten-year plan to validate his age of opening an account.
- Variation Proof
To ask parents for proof of valid identity card of the guardian/guardian who has opened an account on behalf of their daughter.
Proof of residence such as a ration card, the voter must submit an identity card, utility bill and so on.
An overview about zero brokerage
Zero is termed as a number that makes a major difference and it counts. All the more so in the world of brokerage when zero is placed beside the right number. Now are you satisfied with the amount of brokerage you are paying? Some of you might be looking at an option of zero brokerage based trading.
Meaning of zero brokerage and discount broker
With more and more traders flocking on to the Indian stock market the prominence of zero brokerage came into existence and evoked curiosity from traders. A well thought out concept where discount brokers are not going to levy any brokerage for trade conducted.
A broker who executes buying or selling of transactions at a reduced cost is termed as discount broker. Pretty much like a full time broker, they are going to execute orders on behalf of the clients and not going to provide them with any advice. Once upon a time to even afford a broker was restricted to the elite strata of the society. But since technology has gone on to become a part of trading this has gone on to eradicate that wealth pinch. The internet is credited with the transformation as you can trade with a small amount.
Is zero brokerage expected to make a difference?
As far as zero brokerage trading in India is considered a major difference is expected. By traditional trading you have to shell out brokerages on trades. This is calculated by arriving at a % of the total volume of trade. This business model of calculating brokerage is a difficult task and an important part of the trading for an investor. The main reason being brokerage paid reduces the profit from the trades. A lot of people were disappointed as they felt paying brokerage was part of the trading game, till the point zero brokerage came into prominence.
There are numerous benefits expected with zero brokerage that are outlined below
- There is no need to be worrying about the size and volume of your trade
- In zero brokerage a flat monthly fee is levied and there is no need to worry about monthly trades executed
- This goes on to enhance the profit or profitable trades or even breakeven point that is lower
There are a lot of companies who provide hidden opportunities. You have to time the stocks correctly so as to earn money from the stock market. If you are an investor in equity and commodity market you need to consult a share specialist that might help you to earn profits and cut losses. Though in the market you might come across numerous brokers providing you with profitable trades by raking in a chunk of investor’s profits they are enjoying. As an investor it is all about getting your timing right. But still major disappointment lies in store as you have to levy high brokerage.
Considering the calculations of the brokers in mind investors are even reluctant to place trades.
The ELSS and tax saving benefits
Those who have to work hard for every penny do not like to waste their money. For many people though earning is good till the liquidity is a problem and if the income also falls in a big tax bracket for income tax, no one loves to go for it. In such a case, one needs to try the options that can help him save on income tax. Among the tops tools that are known for the tax saving the list may remain incomplete if the ELSS is not added to the same. It is a mutual fund which is linked with the equity market.
What is ELSS and how it helps save tax?
ELSS is a type of mutual fund that is specifically created for the tax saving purpose. Various AMCs are there in the market that has created this mutual fund to invest in the share market. The amount invested in this mutual fund is exempted from the income tax up to the limit of 150000 per annum. This exemption is provided under section 80c. Hence the investor who has to pay income tax on his complete income can invest the amount up to 150000 in some of the best ELSS mutual funds and save tax up to the prescribed amount.
Investment in ELSS mutual funds can help one save on income tax on the side while on the other side the invested amount in the form of a mutual fund can also help one get a good return from the market. The best part here is the investor who wants to invest in ELSS can go for investing the amount in a single go or can also pay the same in instalments. Hence one does not need to feel the burden of investment on his routine income also. While going to investing the amount in some of the best ELSS funds, one needs to check the unit price of the fund and also find its previous performance. If one does not know about it, one can find an expert who can help one invest in the best mutual funds that offer ELSS services also. The amount invested in this fund cannot be withdrawn for the next three years, and hence one can have a good return on his mutual funds in such a period.
The investor also needs to check if the investment in a mutual fund will be in a specific company or segments such as large caps, small caps and mid caps. There can be dividend and growth options from which one needs to find an option that best fits his investment as well as profile. The investor needs to understand the terms and conditions of the AMC before going for investing in specific AMC. One must note here that ultimately this investment is linked with share market and hence the ups or downs of the market can also affect his portfolio. It is always good to read the terms and conditions of the company before investing the amount to the same.
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