Saturday, September 1, 2012
Friday, January 25, 2008
mistakes to avoid buying first home
Mistakes to avoid
First home buyers can make some very big, and expensive, mistakes. Watch out!
One of the biggest and most expensive mistakes that people make is buying a home in a hurry. The decision involves several issues legal, financial and emotional and it's not just your own opinions that you have to consider but those of your loved ones as well. A decision like this is a long-term one and will impact your lifestyle for decades to come, so do take your time, ask the right questions and check out all the possible options before signing on the dotted line. Here are some of the most common, and most expensive, mistakes that first home buyers make RUNNING BEFORE WALKING.
This is easy to do once the decision to buy a home has been made. It means rushing off looking at homes, surfing the web or calling on advertisements before doing some up-front preparation. Not spending time doing this preparation, though, can be a disaster. Once you have signed the contract, changing your mind can become very difficult, so be absolutely sure before you sign up.
BUYING A BIGGER SPACE THAN YOU CAN NEED, OR AFFORD:
What are you going to do with a home that is much too big and has cost you so much that you have no money left over for furniture? Don't push yourself beyond your limits while buying a home there can be nothing more stressful for both of you, and for your family. Work out the budgets carefully and identify your exact needs.
GOING WITH THE WRONG AGENT:
Real estate agents can be a huge help, but then, again, they can be quite disastrous. If you have chosen the wrong agent, you might well find that he is not representing you so much, as he is representing the seller, without your knowledge. So get to know this person before you trust him/ her with the biggest decision of your life.
CHOOSING THE WRONG HOUSING LOAN:
These days, with so much competition in the market, the banks are going all out to woo you, and while their offers might seem tempting, there could be hidden costs that can take you unawares. Don't simply accept the first plan presented to you, whether it is from a mortgage broker, an agent or on the recommendation of a friend or relative. Spend time comparing them, and working out your own needs and ability to pay.
WAITING FOR THE "PERFECT" HOME.
Let's face it, prices aren't going down in a hurry, so the longer you delay, the greater are the chances that the price will go up. So while it is important that you take your time finding the right space, you must also be aware that there may be diamonds in the rough out there, houses that do not seem perfect the first time you look at them, but which will serve your needs perfectly well with a little touching up. If you think a home meets 90 per cent of your needs, the chances are it is a good buy, so don't discount it immediately as you search for that 'perfect' home.
First home buyers can make some very big, and expensive, mistakes. Watch out!
One of the biggest and most expensive mistakes that people make is buying a home in a hurry. The decision involves several issues legal, financial and emotional and it's not just your own opinions that you have to consider but those of your loved ones as well. A decision like this is a long-term one and will impact your lifestyle for decades to come, so do take your time, ask the right questions and check out all the possible options before signing on the dotted line. Here are some of the most common, and most expensive, mistakes that first home buyers make RUNNING BEFORE WALKING.
This is easy to do once the decision to buy a home has been made. It means rushing off looking at homes, surfing the web or calling on advertisements before doing some up-front preparation. Not spending time doing this preparation, though, can be a disaster. Once you have signed the contract, changing your mind can become very difficult, so be absolutely sure before you sign up.
BUYING A BIGGER SPACE THAN YOU CAN NEED, OR AFFORD:
What are you going to do with a home that is much too big and has cost you so much that you have no money left over for furniture? Don't push yourself beyond your limits while buying a home there can be nothing more stressful for both of you, and for your family. Work out the budgets carefully and identify your exact needs.
GOING WITH THE WRONG AGENT:
Real estate agents can be a huge help, but then, again, they can be quite disastrous. If you have chosen the wrong agent, you might well find that he is not representing you so much, as he is representing the seller, without your knowledge. So get to know this person before you trust him/ her with the biggest decision of your life.
CHOOSING THE WRONG HOUSING LOAN:
These days, with so much competition in the market, the banks are going all out to woo you, and while their offers might seem tempting, there could be hidden costs that can take you unawares. Don't simply accept the first plan presented to you, whether it is from a mortgage broker, an agent or on the recommendation of a friend or relative. Spend time comparing them, and working out your own needs and ability to pay.
WAITING FOR THE "PERFECT" HOME.
Let's face it, prices aren't going down in a hurry, so the longer you delay, the greater are the chances that the price will go up. So while it is important that you take your time finding the right space, you must also be aware that there may be diamonds in the rough out there, houses that do not seem perfect the first time you look at them, but which will serve your needs perfectly well with a little touching up. If you think a home meets 90 per cent of your needs, the chances are it is a good buy, so don't discount it immediately as you search for that 'perfect' home.
EMI payments and tax benefits
the article explains how EMI is worked out and the effect of tax benefits available
Repayment of loans taken to buy a house is through EMIs (equated monthly instalments). EMIs are the fixed installments, which a borrower needs to pay over the tenure of the loan to repay the debt. Usually, the EMIs remain constant over the tenure of the loan. To put it in simple terms, the loan amount plus the interest for the loan tenure divided by the tenure of the loan (in months) gives you the EMI. The amount of EMI to be paid depends on the amount of loan, tenure of loan, rate of interest, and mode of calculation of interest. One of the important parameters governing the amount of EMIs is the tenure of the loan. Nowadays, you can avail loans for various tenures - upto five years, upto 10 years, upto 15 years, upto 20 years and in a few cases upto 25 years as well. If you decide to borrow early, at a younger age, you can opt for the longer tenure loans - like 15 to 25 years. This way, your monthly EMI payments would be less. Although the amount of interest paid would be higher as compared to other options, you can have the benefit of availing a loan for a longer period of time. However, if you are borrowing at the fag end of your career, say in the 50s, you may have to opt for a shorter tenure. The income of the borrower - both present as well as in the future is considered for loan eligibility. A borrower should be able to repay his EMIs without compromising drastically on his quality of living. The cash flows available after repayment of EMIs should not entail a dent in his living standards. As such, a judicious planning of cash flows is required. The shorter the tenure, lower is the interest rate - because of the reduced risk of the bank, and lower is the interest amount in absolute terms, because of the smaller tenure. However, the EMI is higher because the loan and interest are to be repaid over a lesser tenure. The primary determinant would be the capacity to pay the EMI and all other factors would fall in the secondary list. As the tenure of the loan increases, the interest rate also increases - to compensate for the increased risk element. Simultaneously, the EMI goes on reducing. A borrower should try to avail the maximum tax benefits available under the Income Tax Act. Presently, interest upto Rs 1.5 lakhs per annum paid for housing loans is deductible from the taxable income of the person. This translates into a saving of Rs 49,500 on the tax front. No other tax avenue offers a better opportunity than this, where an asset creation is partly financed by tax sops. Accordingly, a borrower should structure the housing loan amount for a tenure, so that his annual interest component paid in the near future is Rs 1.5 lakhs per annum. Of course, this would be contingent on other factors as well, like his annual income and savings potential. The longer the tenure, higher is the interest rate - because of the increased risk of the bank, and higher the interest amount in absolute terms, because of the longer tenure. However, the EMI is lower because the loan and interest are spread over a longer tenure.
Repayment of loans taken to buy a house is through EMIs (equated monthly instalments). EMIs are the fixed installments, which a borrower needs to pay over the tenure of the loan to repay the debt. Usually, the EMIs remain constant over the tenure of the loan. To put it in simple terms, the loan amount plus the interest for the loan tenure divided by the tenure of the loan (in months) gives you the EMI. The amount of EMI to be paid depends on the amount of loan, tenure of loan, rate of interest, and mode of calculation of interest. One of the important parameters governing the amount of EMIs is the tenure of the loan. Nowadays, you can avail loans for various tenures - upto five years, upto 10 years, upto 15 years, upto 20 years and in a few cases upto 25 years as well. If you decide to borrow early, at a younger age, you can opt for the longer tenure loans - like 15 to 25 years. This way, your monthly EMI payments would be less. Although the amount of interest paid would be higher as compared to other options, you can have the benefit of availing a loan for a longer period of time. However, if you are borrowing at the fag end of your career, say in the 50s, you may have to opt for a shorter tenure. The income of the borrower - both present as well as in the future is considered for loan eligibility. A borrower should be able to repay his EMIs without compromising drastically on his quality of living. The cash flows available after repayment of EMIs should not entail a dent in his living standards. As such, a judicious planning of cash flows is required. The shorter the tenure, lower is the interest rate - because of the reduced risk of the bank, and lower is the interest amount in absolute terms, because of the smaller tenure. However, the EMI is higher because the loan and interest are to be repaid over a lesser tenure. The primary determinant would be the capacity to pay the EMI and all other factors would fall in the secondary list. As the tenure of the loan increases, the interest rate also increases - to compensate for the increased risk element. Simultaneously, the EMI goes on reducing. A borrower should try to avail the maximum tax benefits available under the Income Tax Act. Presently, interest upto Rs 1.5 lakhs per annum paid for housing loans is deductible from the taxable income of the person. This translates into a saving of Rs 49,500 on the tax front. No other tax avenue offers a better opportunity than this, where an asset creation is partly financed by tax sops. Accordingly, a borrower should structure the housing loan amount for a tenure, so that his annual interest component paid in the near future is Rs 1.5 lakhs per annum. Of course, this would be contingent on other factors as well, like his annual income and savings potential. The longer the tenure, higher is the interest rate - because of the increased risk of the bank, and higher the interest amount in absolute terms, because of the longer tenure. However, the EMI is lower because the loan and interest are spread over a longer tenure.
1st synthetic DNA made
Gene designer:
Craig Venter
Taking a significant step toward the creation of man-made forms of life, researchers reported on Thursday that they had manufactured the entire genome of a bacterium by painstakingly stitching together its chemical components.
While scientists had previously synthesized the complete DNA of viruses, this is the first time it has been done for bacteria. The feat is a watershed for synthetic biology, which involves the design of organisms to perform particular tasks, such as making biofuels.synthethetic biologists envision being able one day to design an organism on a computer, press the print button to have the necessary DNA made, and then put that DNA into cell to produce a custom-made creature. “What we are doing with the synthetic chromosome is going to be the design process of the future,”said J Craig Venter, the boundary-pushing Gene scientists. There are concerns that synthetic biology could be used to make pathogens, or that errors by well-intended scientists could produce organisms that run amok. The synthetic genome made by Venter’s team was not designed from scratch, but rather was a copy, with only a few changes, of the genetic sequence of a tiny natural bacterium called MYCOPLASMA GENITALIUM.
Moreover, Venter’s team has so far failed to accomplish the next and biggest step. That would be to insert the synthetic chromosome into a living microbe and have it boot up and take control of the organisms functioning
Source:
NYT NEWS SERVICE
Times of India dated Saturday, January 26, 2008
Eat breakfast like a king
"Breakfast is the most important meal of the day, and missing it can make people feel stressed and depressed. Use our guide to find the healthiest way to start your day "
THE DE-STRESSER
With tight deadlines, end-list to do lists and hectic schedules, most of us feel distressed from time to time. The body’s way of dealing with it is to release two hormones, adrenaline and cortisol, the body’s fight-or-flight hormones. Stress can prematurely age, chronically tire or depress us and excess production of these hormones can lead to obesity, type2 diabetes and memory loss.
What to eat?
· Sliced banana topped with low-fat natural yoghurt and pumpkin seeds
· Scrambled egg and grilled tomatoes on wholegrain toast with low-fat spread
· Cup of peppermint tea
Why?
The pumpkin seeds, banana and yoghurt all contains magnesium to help relax tense muscles, creating a calming effect. It can also help beat insomania.Eggs, yoghurt, wholegrain bread and pumpkin seeds are particularly good sources of B group vitamins, good for the nervous system and of ten depleted by stressful situations. Eggs and yoghurt contain amino acids called tryptophan, which the body uses to make the brain chemical serotonin .serotonin, is believed to play an important role in regulating anger, aggression and mood and increased levels of it make us happier and calmer. Swap caffeinated coffee fro tea. It’s a mild sedative with a calming effect, eases stress and tension and encourages relaxation without drowsiness
Stay alert
Some jobs involved high concentration for long periods of time. Whether it’s dealing with facts and figures, injured patients or negotiating traffic, you need to stay alert. Low blood sugar levels and dehydration are the two main causes that make our focus waver.
What to eat?
· A bowl of wheat flakes with semi-skimmed milk.
· Wholegrain toast with grilled lean bacon and tomatoes
· A glass of pomegranate juice
· A cup of tea with semi-skimmed milk
Why?
Wholegrain bread and wheat flakes contain fiber and starchy carbs, which help prevent crashes in blood sugar levels that can leave us unable to concentrate ,tired and irritable. Bacon and wheat flakes contain iron to help keep haemoglobin levels high. It carries oxygen from lungs around the body. Low iron intake can cause anemia, which ruins concentration and leads to extreme tiredness. Vitamin C helps us to absorb and use iron better. Tomatoes and pomegranate juice are both good sources .dehydration makes us tired and hits concentration levels
-fruit juice and tea boosts our fluid intake.
The high energy
Other roles require you to be active all day whether it’s for physical labour or constantly dashing to meetings in different locations. Keeping energy levels up can be difficult and many of us resort to sugary snacks that give a temporary energy high followed by a swift low.
What to eat
· Bowl of porridge with little honey
· Baked beans on wholegrain toast with a little-low fat spread
· Pot of low-fat fruit yoghurt
· Cup of coffee with semi-skimmed milk
Why?
Porridge has low glycaemic index and is packed with slow-release carbs and fibre .this means it helps to maintain steady blood sugar levels-giving the body a gradual supply of energy throughout the morning .baked beans have a low glycaemic index and helps keep blood sugar steady. Wholegrain toast packed with fibre helps fill you up. As well as being a good source of bone building calcium, yoghurt is rich in protein. Research shows that good intakes f protein can help keep you fuller for longer-so you’re less likely to snack between meals to keep you going.
Kids need breakfast
Overnight the body rests, sleeps and grows .in the morning you need fuel. How can you function without food? It is proven that eating breakfast improves concentration and focus. Children can be badly affected if they go to school on an empty stomach
Source: TNN
Ahmedabad times dated Saturday 26 January, 2008
With tight deadlines, end-list to do lists and hectic schedules, most of us feel distressed from time to time. The body’s way of dealing with it is to release two hormones, adrenaline and cortisol, the body’s fight-or-flight hormones. Stress can prematurely age, chronically tire or depress us and excess production of these hormones can lead to obesity, type2 diabetes and memory loss.
What to eat?
· Sliced banana topped with low-fat natural yoghurt and pumpkin seeds
· Scrambled egg and grilled tomatoes on wholegrain toast with low-fat spread
· Cup of peppermint tea
Why?
The pumpkin seeds, banana and yoghurt all contains magnesium to help relax tense muscles, creating a calming effect. It can also help beat insomania.Eggs, yoghurt, wholegrain bread and pumpkin seeds are particularly good sources of B group vitamins, good for the nervous system and of ten depleted by stressful situations. Eggs and yoghurt contain amino acids called tryptophan, which the body uses to make the brain chemical serotonin .serotonin, is believed to play an important role in regulating anger, aggression and mood and increased levels of it make us happier and calmer. Swap caffeinated coffee fro tea. It’s a mild sedative with a calming effect, eases stress and tension and encourages relaxation without drowsiness
Stay alert
Some jobs involved high concentration for long periods of time. Whether it’s dealing with facts and figures, injured patients or negotiating traffic, you need to stay alert. Low blood sugar levels and dehydration are the two main causes that make our focus waver.
What to eat?
· A bowl of wheat flakes with semi-skimmed milk.
· Wholegrain toast with grilled lean bacon and tomatoes
· A glass of pomegranate juice
· A cup of tea with semi-skimmed milk
Why?
Wholegrain bread and wheat flakes contain fiber and starchy carbs, which help prevent crashes in blood sugar levels that can leave us unable to concentrate ,tired and irritable. Bacon and wheat flakes contain iron to help keep haemoglobin levels high. It carries oxygen from lungs around the body. Low iron intake can cause anemia, which ruins concentration and leads to extreme tiredness. Vitamin C helps us to absorb and use iron better. Tomatoes and pomegranate juice are both good sources .dehydration makes us tired and hits concentration levels
-fruit juice and tea boosts our fluid intake.
The high energy
Other roles require you to be active all day whether it’s for physical labour or constantly dashing to meetings in different locations. Keeping energy levels up can be difficult and many of us resort to sugary snacks that give a temporary energy high followed by a swift low.
What to eat
· Bowl of porridge with little honey
· Baked beans on wholegrain toast with a little-low fat spread
· Pot of low-fat fruit yoghurt
· Cup of coffee with semi-skimmed milk
Why?
Porridge has low glycaemic index and is packed with slow-release carbs and fibre .this means it helps to maintain steady blood sugar levels-giving the body a gradual supply of energy throughout the morning .baked beans have a low glycaemic index and helps keep blood sugar steady. Wholegrain toast packed with fibre helps fill you up. As well as being a good source of bone building calcium, yoghurt is rich in protein. Research shows that good intakes f protein can help keep you fuller for longer-so you’re less likely to snack between meals to keep you going.
Kids need breakfast
Overnight the body rests, sleeps and grows .in the morning you need fuel. How can you function without food? It is proven that eating breakfast improves concentration and focus. Children can be badly affected if they go to school on an empty stomach
Source: TNN
Ahmedabad times dated Saturday 26 January, 2008
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