Option-42Catching the right trend can save you from tide and hardships of life.  Especially when people desire to own a home or creating a dwelling of their own.  The biggest criteria is our financial position since housing demands huge money.  The second important factor is the economic criteria, which tells us how conducive the environment is before we plunge into realizing our dream.   Currently in this part of the world we have severe crisis for construction grade sand used along with cements for construction.  This has resulted in black marketing with huge volatility and skyrocketed prices.  Similarly a decade ago steel prices were double the current price level and in 80’s we had cement shortage and rationing was practiced.  Availability of money has been a challenge throughout, but in the last few years the Government has made several efforts through the banking system to provide easy finance by funding nearly 80% of the projected cost at a very reasonable rate of interest with longer tenure.

So,  What are the pros and cons in current situation; except that the sand is substituted with M-sand by most of the builders there seems to be no other challenges if you are planning to own a dream house.  Especially current Interest rate scenario is clearly trending towards softer regimen and borrowing is in the range of around 9% interest rate, the truth is it can hardly go below a hundred or one fifty basis points (1-1.5%).  Even if it happens it will be for a brief time and timing it would be a challenge.

Apart, the other important commodities viz., steel and cement are still languishing at a reasonable rate compared to their previous peaks.  The labour cost is always going to be higher in future from current rate and offers no speculation, hence there is no better time than today if you are deciding to build a home today.  Especially lot of alternate materials have emerged in wood with composite materials coming which are competitive in pricing and proving to be durable with each day passing.

A vast majority in Indian tradition still meet up with an astrologer to check Kundali (horoscope) once before they attempt to build home, but as an observer I believe the current economic scenario is best fitted in any kundali.  The prediction for sure is going to be a smooth sail to reach your goal, provided you choose right partners like the Architect or Civil Engineer.  Their expertise will play a major role in transition of your dream into reality.  Wrong choice always will result in bad taste and bad experience.   Choosing the right partner is the best ingredient for a perfect recipe to own a dream home.