Trends that millennial home buyers are creating in real estate investment

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With India having a large and growing population of millennials, we look at how their preferences, which are distinctly different from the previous generations, will affect the real estate market

 

Over the last few years, the real estate market has witnessed a series of drastic changes. One such development, has been the active involvement of millennials in housing investment. Their outlook and approach towards life, is slightly different from the preceding generations and they have come up with creative ways to save for a down payment. This shift in demographics is affecting the market.

 

Indian real estate industry to become third-largest, globally

 

The real estate sector holds considerable significance in the Indian economy. It contributed about 6%-7% to the Indian economy gross domestic product (GDP) in 2017 and is expected to contribute about 13% by 2025. According to a report by KPMG, by 2030 the Indian real estate industry is expected to touch USD 1 trillion, becoming the third-largest, globally. It is also the third-largest employer (after agriculture and manufacturing) in the country and presently employs over 50 million people.

As per the National Skill Development Council (NSDC), the real estate and construction sector is expected to necessitate demand for over 66 million people by 2022. The sector is estimated to grow to USD 650 billion by 2025 and surpass USD 850 billion by 2028. The value increased from USD 174 billion in Q4 2012 to USD 243 billion in Q2 2018.

India has also consistently improved its ranking, vis-à-vis global real estate since 2014, which has instilled confidence in investors. Residential, commercial and retail are the three key asset classes, which have primarily been contributing to the sector’s growth.

 

Young generation to have greater purchasing power

 

With younger generations moving up the career ladder faster than ever before, this segment is rapidly gaining purchasing power. According to a report by Deloitte India and the Retailers Association India, millennials are India’s predominant wage earners, comprising 47% of the working population. The report also observes that this generation is characterised by digital savviness and high disposable incomes, meaning that they are an integral and large part of the consumer market.

However, considering that the spending habits observed in this population highlight the importance of saving and concrete investment before expenditure, there is increasing home-buying competition.

Here, it is important to recognise the different needs of the ‘Gen-Y’ home buyer. For them, what matters is convenience, ease-of-access, proximity to commercial and business hubs, as well as the availability of various amenities. In such a context, real estate developers need to either build projects that separately cater to different age demographics, or they need to find the common points of demand and market housing projects that possess characters that will appeal to people across the age spectrum.

 

New-age living for the new-age population

 

With heavy stress on work-life integration, mental well-being and holistic living, Gen-Y loves open spaces that allow them to socialise, without feeling confined and at the same time feel a sense of spaciousness without the inconvenience and stress of maintaining a sprawling mansion. Hence, they prefer multi-functional rooms .

In addition to building smarter homes, smart technology needs to be installed, as this will attract young buyers. State-of-the-art security systems, sustainable living through smart power-saving ACs and lighting that consumes minimal electricity, as well as uncluttered spaces that are easy to clean – these are some of the modern living considerations that builders need to incorporate in projects, in order to attract the average buyer in this age bracket.

 

Millennial home owners to rely heavily on technology and social media

 

Millennials who already possess their own homes, have a different outlook on the housing market, as compared to their parents.

A BankBazaar study from 2018 found that 91% of this age demographic preferred to make their own financial decisions but relied heavily on social media to gain insights and perspectives that help in decision-making. Data from Computer Age Management Services also showed that FY18-19 saw a much larger quantum of this generation investing in mutual funds than before. When this generation buys assets, they believe in either selling it, only after significant capital appreciation, or reaping the continuous benefits by renting out their property.

Millennials today are entering the housing market, armed with smart technology, which often guides them seamlessly in aspects ranging from design and functionality, to documentation and financial assistance. It is time now for agents to familiarise themselves with aware and market-savvy clients. As long as they are a chunk of the market, they will create major trends in the home-buying sector.

 

Source – www.msn.com

 

Also read: Home Buying Tips: Should you buy a home early in your life?

 

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For Complete Information About Real Estate Projects in Kasarwadavali Thane – Ace Homes Contact Ace Constructions Sales Office, On 022 6730 4862 Or Email Us At Info@Acerealty.Co.In

Home Buying Tips: Should you buy a home early in your life?

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It won?t be wrong to say every person dreams of having their own home in life. However, some realise this dream early in their careers while others have to wait longer to make it come true. Home purchase is typically the biggest investment of our lifetime. To achieve this superlative goal, one needs to have financial stability and an income pool big enough to accommodate this major expense.

 

So, the question is, what is the best time to buy a house: early in our careers or later when our finances stabilise? Before we get to the answer to this, let?s discuss some of the common reasons why so many people want to buy a home early in their lives.

 

Why do people think they should buy a home at an early age?

 

Young people who have just started their career usually find it challenging to buy a home and thus stay in rented houses. But as their income grows, they feel they can save on the rent outgo and instead pay for their home loan EMIs. Then there are some who buy a house early in their lives as a pure investment move to safeguard their financial future.

Many feel since buying a home will be the biggest financial goal of their lives, it is better to start the process early so that they can concentrate on other important goals later. Others believe it would get extremely difficult to buy a home at later stages owing to factors like additional responsibilities and inflation. Lastly, many buy a home at an early age simply because they have a good income or financial support from their family members making it easier for them to afford the EMIs.

To be fair, none of these arguments are wrong. There are indeed several benefits of buying a home early in your life, some of which are discussed below.

 

Advantages of buying a home early

 

Buying a home early has several advantages like you can repay the loan amount well before your retirement, and by the time you repay the loan the value of your property is likely to have increased significantly. So, you can enter your post-retirement phase without a major debt to worry about and a great asset under your belt.

Also, staying in a rented house isn’t the same as living in a self-owned property. Rental living is often marked by woes like having to look for a new place every other year, among a host of other potential issues.

If you buy a home on loan at an early age, it will also help you save a lot in tax outgo against various deduction benefits available under the I-T Act. You can always use this saved amount to meet other financial goals or to prepay your home loan and accelerate the loan-clearing process. Real estate is also regarded as one of the best hedges against inflation, so buying a home early will minimise erosion of wealth due to inflation.

Most significantly, getting into the habit of dealing with a major financial commitment like paying home loan EMIs early in your life will instill financial discipline like nothing else. Clearing your dues every month will ensure you?re always conscious about your financial priorities and an expert in minimising wasteful expenses.

That being said, buying a home early in your life is a tall task fraught with several challenges and risks too.

 

Drawbacks of buying a home at an early age

 

People take this deep plunge assuming they?ll have stable income throughout the loan tenure. However, things might get really complicated if you lose your job midway, even temporarily, as you will struggle to repay your EMIs and accumulate huge debt in the process. Worse, being unable to repay home loan EMIs for more than three months will lead to your loan being classified as an NPA, at which point the lender is within his rights to initiate the loan recovery process through the means legally available to him, including through the auction of your property. Needless to say, this will cause irreparable damage to your credit score.

Also, if you haven?t thought it through, arranging for the down payment fund and other major miscellaneous costs associated with buying a home alongside dealing with the loan burden can pressurise your finances to such an extent that you might struggle to meet other important financial commitments. Many exhaust their emergency fund and discontinue crucial insurance plans and investments to be left with sufficient funds to repay their loan, but doing so leaves them vulnerable to life?s many vagaries. Extreme cost-cutting, especially when it comes to discretionary expenses like vacations, can also cause major stress.

Then there are those who make major sacrifices to buy a home early in their lives but then they are forced to move to another city for professional reasons. Dealing with the EMIs and the rent can get extremely challenging for such people.

 

So, should you buy a home early in your life?

 

The answer to whether you should buy a home early in your career or not lies solely in your preparedness to take on this humongous financial responsibility. While buying a home early has major advantages as discussed above, doing so would involve immense financial discipline on your part.

So, you?ll be well-advised to embark upon this path early in your life only if you think you can arrange for the out-of-pocket expenses like down payment, registration, etc. without undermining other financial goals, and have a clear repayment plan to deal with the EMIs. Because, while a home is extremely important, it’s not the only important financial goal that you need to take care of. Buying one without a proper plan can cause more harm than good. If you?re unsure, it’s better to wait for a few years until you’ve stabilised your finances.

In conclusion, when it comes to buying a home, take the plunge only when you think you can meet this financial goal without impacting other important commitments ? be it early or later in your life.

 

Source – www.msn.com

 

Also read: The Fastest Way To Enhance Loan Eligibility

The Fastest Way To Enhance Loan Eligibility

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Only a few people are eligible to become co-borrowers to a home loan and claim the tax benefits on such a loan, provided other conditions are also fulfilled

 

With the prices of houses rising significantly faster than salaries, it has become increasingly difficult for individuals to buy a house on their own. Consequently, most people now opt for home loans. To enhance the loan eligibility, once can opt for a loan with the longest available tenure or, additionally, get someone to join you as a co-borrower.

 

Persons who are generally accepted as co-borrowers

 

When it comes to adding a co-borrower to a home loan, lenders give first preference to the borrower’s spouse. It is presumed that the income of both individuals will be pooled for the purpose of household expenses, including for paying the home loan EMIs. The second category includes sons, daughters and parents. This is also considered as a relatively strong relationship, from a financial point of view. Please note that in case you add your parents as co-borrowers, their age shall be crucial in determining the overall eligibility.

The lender will only take the remaining years of their earning life into account, while computing the overall eligibility. So, in case your parents have already retired, including them as co-borrowers will not help you, as they do not have any income to help you service the home loan.

Few lenders will be willing to let a daughter join as a co-borrower because the dynamics change once the daughter gets married and her ability to help you in servicing the home loan does not remain certain.

Lenders have to take this reality into account. In case a son or daughter joins you as a co-borrower, the lender would insist on them being the first owner of the property, to ensure that the loan is serviced properly.

 

Persons who are generally not accepted as co-borrowers

 

Brothers and sisters of an applicant are generally not accepted, as co-borrowers for a joint home loan. However, if the brother/sister is able to convince the lender that the incomes of the siblings are pooled together, then, the application may be considered. This may be possible, if the brothers/sisters are staying together and are past their general marriageable age. However, the decision is made by lenders on a case-to-case basis.

 

People who are not eligible to be joint borrowers for a home loan

 

Banks generally do not approve of friends, partners or unmarried couples living together and other relatives, to join as co-applicants to a home loan. Lenders avoid granting home loans in such cases because these relationships are not considered to be strong. However, lenders may grant business loans to people who are partners in a business.

 

Tax benefits for joint borrowers

 

A co-borrower’s eligibility to claim tax benefits is not automatic. A co-borrower may not necessarily be a co-owner of the property. All the joint borrowers can claim the tax benefits, only if they are also co-owners of the property and are actually servicing the home loan. The ratio in which you can claim the tax benefits for the home loan, shall be according to the ratio in which you are servicing the home loan. This may be different from the ratio in which you own the house property, as each co-owner may not service the home loan.

Also read: 5 Must-Have Smart Home Appliances for Home Buyers

 

For Complete Information About Home Loans for 2 BHK Flats in Kasarwadavali Thane Contact Ace Constructions Sales Office, On 022 6730 4862 Or Email Us At Info@Acerealty.Co.In

5 Must-Have Smart Home Appliances for Home Buyers

In An Era Where Everything From Your Phone To Books Is A Smart Appliance, It Is Only Understandable That One Would Also Be Looking For A ‘Smart’ Home. What Exactly This Entails Is A Lengthy Narration, But Here Are A Few Appliances That We Think Could Essentially Make Your Life Much Simpler And More Comfortable.

5 Must-Have Smart Home Appliances for Home Buyers

Credit : Freepik.Com

Smart Home Appliances For Home Buyers

1) A Smart Home Security System

With The Help Of Such A Device, You Can Keep Watch Over Your House And Your Kids’ Safety All The Time. You Can Get A 100 Percent Wireless Wi-Fi Security Camera Equipped With Night Vision, To Give You Crystal-Clear High-Definition Video Around The Clock. In Most Cases, These Cameras Are The Size Of Your Fist, Are Weatherproof And Work Smoothly Even After Continuous Usage. Some Of These Home Automation Systems Use Cameras That Are Battery Operated, So You Can Set Up The Camera Wherever You Want To Without Worrying About Finding A Power Outlet Or The Hassle Of Inconvenient Power Cords. You Can Not Only Watch Live Streamed Or Recorded Videos But Also Control This System With An App On Your Mobile Phone From Anywhere.

2) Internet-Enabled Smart Switch

A Wi-Fi Enabled Switch Lets You Turn On Or Off Your Electronic Devices From Anywhere. These Switches Provide A Wireless Control For TVs And Stereos, Lamps And Heaters, Fans And Coolers, All By Using Your Existing Wi-Fi Network. All You Have To Do Is Download The Free WeMo App On Your Smartphone Or Tablet, Plug The Switch Into An Outlet At Home And Plug Any Device Into The Switch. These Smart Home Appliances Give You Wireless Control Of Your Other Electronic Devices And Gadgets.

The Switch Also Operates Over Mobile Internet, Which Means You Can Control Home Devices From Anywhere In The World. The App Makes It Easy To Set Schedules For Appliances And Electronics In Your Smart Home. Use Your Smartphone Or Tablet To Program A Fan To Turn On Or Off At A Certain Time Of Day, At Sunrise Or Sunset. So Now You Can Switch On Your Music System To Go Full Blast Every Morning To Wake You Up! Or You Can Program Your AC To Start Cooling When It Is Time For You To Come Home From Work Or School.

3) Smart Cleaning Robot

Our Busy Lives Often Don’t Give Us Enough Time To Do Our House Cleaning. When We Do Make Time Rarely, We Easily Get Tired Of Dragging The Heavy Vacuum Cleaner To All Corners Of The House. In Such Cases, A Robot Vacuum Cleaner Comes To Rescue You. These Home Automation Robot Vacuum Cleaners Look Like A Sleek Black Disc. Using A Pair Of Rotating Extractors Instead Of Brushes, This Robotic Device Acts As Your Own House-Cleaning UFO, Ridding Your Floor Of All Kinds Of Dirt And Debris. At The Bottom End, There’s A Discreet Compartment Where All The Dirt Collects. All You Have To Do Is Empty This When It’s Full; It Easily Pops Out And Clicks Back In Place.

One Can Also Schedule Such Robotic Cleaners To Clean At A Specific Time. Say, If You Want It To Vacuum Every Monday, Wednesday And Friday At 3 Pm, It’s Just A Matter Of Pressing A Couple Of Buttons To Schedule This. You Will Be Amazed At The Ability Of This Cleaner To Clean Along Corners, Around Furniture Legs, Under The Beds, Rough Edges And All Kinds Of Nooks And Crannies, Letting You Relax While It Takes Care Of All Your House Cleaning Chores!

4) Smart Lighting

Imagine Coming Home After A Hard Day’s Work. As You Sit Down On Your Favourite Armchair And Switch On The Lights, Your Favourite Songs Start Playing In The Room. These Newly Arrived LED Bulbs Make This Scenario Possible. These Pearl White, Easy-To-Install Speakers Make For Quirky LED Lamps In Your Room. Just Plug These Smart Home Appliances Into Your Regular Bulb Holder And Play Music Through Any Bluetooth-Enabled Mobile Phone, Tablet Or Laptop. Both The Light And Speakers Operate Independently, So You Can Switch Off The Bulb While Still Playing The Music Or Vice-Versa.

There Is Also An Infrared-Connectivity-Based Remote For Changing The Sound Track. So Once You Set Your Soundtrack With Your Smartphone Initially, You Can Control The Music Directly Using The Remote Control After That.Unlike Other Bluetooth-Based Speakers, This Doesn’t Require Any Charging And Runs On Electricity. The LED Bulb Comes With Low Power Consumption And Features Two Colour Modules – Cool White For High Brightness And Light Yellow For Soothing Mood Lighting. Here’s An Appliance That’s Both Smart And Cool!

5) Wi-Fi Enabled Air Conditioner

Indian Summers Can Be Very Tough! The Hot And Humid Climate Along With The Harsh Blazing Sun Sucks The Energy Out Of People. However Comfortable Your New Home May Be, One Just Cannot Escape The Heat Waves. A Smart Solution Would Be To Get Yourself The Newly Launched Wi-Fi Enabled Air Conditioners.

Your Home Automation Is Incomplete Without These Wi-Fi Enabled ACs Which Use Your Home’s Wi-Fi Network To Connect With Your Phone And Also Works On 2G, 3G And 4G Data Networks. They Can Be Controlled From Anywhere Through Your Phone, If You Have A Working Internet Connection. The AC Connects To Your Phone Like It Would To A Remote. The ‘Away’ Mode On The AC Tracks Your Smartphone’s Current GPS Location And Accordingly Switches The AC Off To Conserve Power If You Are Out Of Range. You Can Also Use Your Phone To Turn On Your Air Conditioner Before You Reach Home, So When You Reach Home Tired And Sweaty From School/College/Work, You Are Greeted By A Cooled Room. These Smart ACs Are Here To Stay!

With Even One Of These Devices Tucked Under Your Belt, Life Is Sure To Become Immeasurably More Comfortable And Fun. You Personalise Your Desktop, Phone’s Wallpaper, Workstation Desk And Bedroom Décor. With These Smart Home Appliances, You Have The Opportunity To Personalise Your Entire Lifestyle As Well!

 

Also Read: 9 Tips To Decorate Your Home Like A Minimalist

 

For Complete Information About Luxury 2 BHK In Ghodbunder Road Thane, Contact Ace Constructions Sales Office, On 022 3964 7550 Or Email Us At Info@Acerealty.Co.In

1 Bhk Flat Vs 2 Bhk Flat ? Which One to Choose.

1 BHK Flat Vs 2 BHK Flat ? Which One To Choose According To Your Family Size

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The Real Question

As The Urban Lifestyle And Pace Is Evolving Rapidly, Our Choices And The Approach

Towards Everyday Life Is Taking The Needful Curve. Though A Family Is Seen As One Unit, If Dissected, It’s A Fusion Of Individuals Of Different Age Groups Living Together. Individuals Who Need Their Space, Their Time But That Too By Staying Together In A Harmonious Space. Today’s Nuclear Family Is A Live Example Of Improved Functionality That Keeps Up With The Evolving Pace Of Life. The Question Of Choosing A 1 BHK Or 2 BHK Flat In Thane Can Leave Many Profusely Puzzled. So, Here’s An Overview For You To Decide.

1 BHK : A Beginning

1 BHK Flats Are Perfectly Sized For A Newly Married Couple. It Is Ideal For The Beginners As They Are Priced Low And Don’t Make You Stretch Your Budgets Profusely. If You Are Looking For An Investment, 1 BHK Is A Perfect Option For You Too. However, A Family Should Be Switch Ready In The Future. As The Family Expands From Two To Three Or More It Demands More Space. This Can Act A Perfect Ladder If You Don’t Wish To Spend More On A Space For Now. As The Property Value Increases Overtime, Your 1BHK Can Help You Reach That Larger Space Which You Would Aim Few Years Down The Line.

2 BHK : Space & Grace

When It Comes To Space; The More, The Better. A 2 BHK Gives A Growing Family The Ideal Space. As Children Grow Up, Having Their Own Space Turns Out To Be A Significant Aspect Which Needs To Be Addressed With Time. A 2 BHK Flat In Thane Seems More Welcoming For The Relatives And Friends Who Would Want To Stay Over. An Additional Bedroom Adds More To The Grace And Space Of A House. At Namrata Group, Considering Both The Sides; We Thoughtfully Design Spaces To Fit Your Needs.

For Complete Information About 1 BHK And 2 BHK Flats In Ghodbunder Road Thane, Contact Ace Constructions Sales Office, On 022 3964 7550 Or Email Us At Info@Acerealty.Co.In

Get Your Home Monsoon Ready

How Can Home Owners Ensure That Their Homes Are Ready For The Rains And Ensure That It Does Not Cause Any Harm To The Safety And Beauty Of The Home? We Offer Some Suggestions

While The Arrival Of The Monsoon Season May Bring Relief To Many, After The Sweltering Heat Of Summer, It Is Also The Time To Prepare And Protect The Home. Leakages Not Only Damage The Look Of The Home But Can Also Spoil The Interiors, Including Furniture And Furnishing. Home Owners, Hence, Should Check For The Smallest Signs Of Damage And Take Prompt Action, To Ensure That The Problem Does Not Become Uncontrollable.

 

Get your home monsoon ready

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Water-Proof Your Home

Water-Proofing Protects The Structure From Extreme Rainfall And Also Saves On Repair Cost And Hassle, In Terms Of Breakage And Weakening Of The The Structure.

Water Seepage And Dampness Can Also Pose Serious Health Hazards, As Dampness And Cracks Lead To The Growth Of Fungus, Moulds And Algae. Dampness Can Cause Home Owners To Develop Allergic Reactions, Asthma, Irritations In The Nose, Eyes And Throat And Other Respiratory Ailments, Cautions Sanjay Bahadur, Global CEO, Construction Chemical Division, Pidilite Industries Ltd. These Problems Can Be Avoided, If A Little Precaution Is Taken. “Different Surfaces Are Exposed To Diverse Challenges. Hence Each Surface Needs The Right Kind Of Water-Proofing. Merely Water-Proofing The Roof, Is Not Enough To Ensure A Leak-Free Home. The Home Will Be Fully Protected, Only When All Five Possible Areas For Water Entry – Below The Ground, Internal Wet Areas (Bathroom, Kitchens And Balconies), Roof, Concrete Water Tanks And Exterior Walls – Are Properly Water-Proofed. All Broken Plasters And Cracks Should Also Be Repaired,” Adds Bahadur.

Check The Surrounding Area Of The Building

Prior To The Monsoon, Also Check The Surrounding Area Of The Building Compound, Or The Garden Area Of The Bungalow. “Check If Any Tree Branches In The Garden Or Terrace Are Weak And Need Trimming, Lest They Give Way In A Heavy Downpour And Cause Damage. Make Sure That The Drainage In The House Or Even Outside The Villa Is Checked For Blockages. Metal Doors, Frames And Grills Of Windows And Balconies Should, Ideally, Be Given A Coat Of Paint Before The Monsoon, To Prevent Rusting And Corrosion,” Says Prachi Chavarkar, Co-Founder Of ArchiLab Designs.

“Water And Electricity Is A Dangerous Combination. For Outdoor Usage, Opt For Electrical Switches And Lights That Are Designed For External Usage. Also, Get An Electrician To Check All The Connections Before The Rains, To Avoid Chances Of Electric Shock Or Short-Circuit,” Adds Chavarkar.

Keep The Home Pest-Free

Puddles And Stagnant Water Are Common During The Monsoons. As Mosquitoes Breed In Stagnant Water, One Should Keep Areas Like Air-Conditioner Ducts, Drains, Trays Beneath Potted Plants, Etc., Clean And Dry. Clean The Terrace And Rainwater Drainage Pipes Of Dried Leaves, So That Water Can Flow Easily And Not Stagnate. Before Laying A Carpet On The Floor, Ensure That The Floor Is Completely Dry. Alternatively, Roll Them Up And Store Them Away For The Season. Vacuum And Air Them Well And Keep Camphor Balls Along With The Carpets, Before Putting Them Away.

“It Is Better To Do A Pest Control Treatment Before The Monsoon, So That All The Hidden Worms And Bugs Are Eradicated From The House. Use Antibacterial Fluids For Mopping The Floors, As Dampness Can Encourage The Growth Of Bacteria And Termites. Opt For A Cleaning Agent, Which Is Designed To Keep Bugs Away. Indoor Plants Not Only Add To The Moisture Level In The House But Also House Insects. Hence, Keep Potted Plants Outside During This Season,” Says Shantanu Garg, Founder And Creative Director Of Shantanu Garg Designs.

Caring For Furniture And Accessories During The Monsoon

When Cleaning Furniture, Avoid Using A Wet Cloth And Instead, Replace It With A Dry Cloth. “All Leather Bags, Belts And Shoes Should Be Kept In Cotton Or Muslin Bags, As This Will Keep Them New. Also, Instead Of Placing Footwear Directly On The Shelf, Place A Newspaper First And Then, Keep The Shoes On It. This Will Keep The Shoe Rack Clean,” Adds Garg.

Home Maintenance Tips For The Rainy Season

1. To Get Rid Of The Damp Moist Smell In The Rainy Season, Use Scented Candles And Burning Oils.

2. Ensure That The Clothes Are Completely Dry, Before Keeping It In The Wardrobes. Keep Silica Gel Pouches In Cupboards Or Between Clothes, To Soak Up The Moisture And Prevent The Growth Of Fungus. Also, Put Some Dried Neem Leaves (Not On The Clothes) Or Naphthalene Balls In The Cupboard, To Keep Fungus And Mildew Away.

3. Keep The Kitchen Area Dry. When Cleaning The Cabinets, Keep Them Open For Some Time To Prevent Bad Odours And Moisture From Being Trapped Inside.

4.Install Metal Canopies And Shades Over Windows And Balconies, To Prevent Water From Coming In.

5. Place A Small Bucket Near The Main Door, To Keep Wet Umbrellas. Allow The Umbrella To Dry, Before Keeping It Back In Its Place Inside The House.

6. Light A Few Pieces Of Camphor In A Diffuser As Camphor Is An Effective Mosquito Repellant.

 

For Complete Information About Flats In Ghodbunder Road ThaneContact Ace Constructions Sales Office, On 022 3964 7550 Or Email Us At Info@Acerealty.Co.In

Simple energy saving tips for home owners

We Look At How Home Owners Can Decrease The Energy Consumption In Their Homes Substantially, By Making A Few Simple Changes

With Climate Change Affecting People Across The Globe, Energy Conservation Is No More A Choice But A Must For All. As Buildings Are One Of The Largest Sources Of Energy Consumption, Conservation Should Start At Home, Through Behavioural Changes That Ensure That We Have Energy-Efficient Homes.

“Each Of Us Should Consciously Evolve Ways, To Avoid Wastage Of Scarce Resources Such As Water And Power, In Our Homes. The Problem With Urban Planning Today, Is That Building Structures Are Guzzlers Of Energy. Their Design Is Based On The Assumption Of Limitless Supply Of HVAC (Heating, Ventilation And Air-Conditioning) Resources. No Effort Is Being Made To Tap Renewable Energy, To Meet The Need For Power. There Is An Urgent Need To Revisit Climate-Sensitive Concepts Of Indigenous Architecture, To Design And Construct Multi-Storeyed Buildings, While Making Appropriate Use Of Advanced Building Technologies,” Says Anthony Raj, Founder-Director Of The Center For Indigenous Architecture.

Flats in Ghodbunder Road Thane

Credit : Freepik.Com

Opt For Energy Efficient Appliances

According To Pune-Based NGO, Prayas Energy Group, Residential Electricity Consumption Has Gone Up By 50 Times Since 1971 And Now Forms About A Quarter Of India’s Total Electricity Consumption, Up From About Four Per Cent In 1971.

Aditya Chunekar A Fellow Of Prayas Energy Group, In The Research Area Of Energy Efficiency, Maintains That Consumers Should Opt For Energy-Efficient Appliances.

Citing An Example, He Says That An Energy-Efficient 1.5-Ton Split Air-Conditioner Can Utilise 30-40 Per Cent Less Electricity Than An Ordinary 1.5-Ton Split Air-Conditioner, Used For The Same Amount Of Time. “The Total Residential Energy Consumption Can Decrease, With The Use Of Energy-Efficient Appliances. Studies Reveal Overall Savings Of 15-25 Per Cent From The Use Of Efficient Appliances. Air-Conditioners Consume Much More Energy Than All The Other Appliances Combined. Refrigerators Can Also Contribute To 25-50 Per Cent Of The Electricity Consumption In A Household. An Inefficient Refrigerator Can Increase The Annual Electricity Bill Of A Household By As Much As Rs 4,000-5,000, In Some Cases. So, It Is Important For A Consumer To Choose Appliances With Five-Star Rating,” Chunekar Explains.

Energy Efficiency In Homes, Where The Construction Is Complete

The Challenge With Ready-Made Homes, Is That The Buyer Has No Control Over The Exterior Façade Design, Like Shading Structures And Type Of Windows Installed In The Homes. “If The Buyer Has Control Over These Features During The Construction Phase, Well And Good. Otherwise, There Are A Few Things That Can Still Be Done, To Reduce Energy Consumption In The Home,” Points Out Mathan Ramaiah, Director Of Design, Fountain Head Design (FHD) Group.

“Replace Light Fixtures With CFL (Compact Fluorescent Light) Or LEDs (Light-Emitting Diodes) If They Are Not Already Installed. Proper Size Of The AC Is Also Important. An AC That Is Too Small, Means That It Will Run At Full Load, Which Wastes Energy And During Peak Hours, It Cannot Produce Enough Cooling. Oversized ACs Will Also Lead To Loss Of Energy. The Best Practice Is To Set The Temperature At Around 24 Degrees And Wait Till The Room Cools Down,” Says Ramaiah.

Home Owners Can Even Use Shading Devices Over The Windows, To Reduce The Heat Gain. “For Example, One Can Have Bamboo Blinds On All The Balconies. This Reduces The Exposure Of Walls To Direct Sunlight And Improves The Thermal Comfort Within The House,” Raj Elaborates.

Solar Panels For Electricity Generation For All Common Areas And Common Amenities, Can Also Help Energy Conservation, Adds Ramaiah. “It Is More Economical For A Community To Install Solar Panels Than An Individual Home. As A Community, One Can Also Install Biogas Plants, Where All Kitchen Waste Can Be Segregated And Put Into The Plant To Generate Electricity. The Advantage Of Biogas Plants Is That They Store Energy In The Form Of Gas That Can Be Used Whenever Required,” Suggests Ramaiah.

Dos And Don’ts For Saving Energy At Home

– Opt For Energy-Efficient Appliances, BEE (Bureau Of Energy Efficiency)-Labelled Or Eco-Star Products.

– Clean The Filters In Air-Conditioners Regularly. Insulated Walls And Roofs Decrease The Heat Gain And Reduce Load On Air-Conditioners.

– When Doing Laundry, Only Run The Washer When There Is A Full Load. Once Done, Hang The Clothes Out To Dry Under The Sun Instead Of Using The Dryer.

– Unplug Any Battery Chargers Or Power Adapters And Switch Off Devices Completely, When Not In Use.

– When Leaving The House Ensure That All Lights Are Off. Have A Master Switch At The Entrance, To Switch Off The Lights.

Also Read: Investment Tips: How To Buy A Home That Delivers Long-Term ROI

 

To Know About Flats In Ghodbunder Road Thane Visit Ace Constructions Sales Office In Thane