Tuesday, December 24, 2019

6 Tips to Give Your Home a Charming Vintage Look


Planning to redecorate your home and add some vintage charm to it? Well, it doesn’t necessarily need to be expensive, and you don’t have to visit antique stores to get your hands on vintage decor.

Start with things like old frames, metal baskets, old cartons, and suitcases. Paint the rooms right—choose pastel shades like vintage blue, along with shades of silver and gold for that perfect vintage look.

Here are some simple tips to help you give your rented apartment or house a rustic look:

Old-School Mirrors


Go to that storeroom with the half-forgotten trunks full of old hand-me-downs from your great-grandparents. Look for old mirrors, with gold or silver-toned trim on the frames.

You could even buy one of these ornamental mirrors from furniture shops. Once you have a mirror, place it in one of the walls of your living room for the perfect vintage look. This will also serve to make the space look larger and disperse light evenly around the room.

Dishes and Cupboards


You can find antique china dishes at thrift stores and flea markets. These are a great way to add that classic vintage touch to your home. Put on your creative hat and figure out unconventional ways of working them into your decor - hang them on walls or use them as soap dishes or candle holders.

Go for wooden or metallic cupboards that have an antique-looking finish instead of modern clean-cut ones. You can also reuse your old cupboards and paint them from scratch to achieve that   beautiful distressed look.


Ladders


Have an old wooden ladder? Give it a fresh coat of paint and place it in your bathroom or kitchen to be used as a towel or soap rack.





Collectible Curios


Old telephones have a unique charm that’s been lost in modern design. They will fit perfectly into your freshly vintage-themed home. Go to an antique store or shop around online for such these telephones and use them as decor elements.

You could also look for old radios, gramophones, typewriters, and all other little curios that embody the vintage spirit. An antique-looking clock can really tie a room together by acting as the centerpiece.



Speaking or curios—mason jars are versatile and cheap decor elements. You can use them as candle holders or use them to hold lights for a touch of class.

Old Books


The vintage look feels a bit lacking without appropriately old books. There’s something about a stack of old books placed on a coffee, kept company by a vintage lamp.

You can also invest in a bookshelf. Make sure to go for one that has plain rack design and is made of wood. A dull, somewhat distressed finish is preferable. Place hardbound books - old classics - to complete the setting. And of course, these classics make for great reading, so it’s a win-win.

Kitchenware


When every room in the house is getting a vintage makeover, the kitchen can’t be left behind. Make use of bronze, brass, or earthen pots and vessels for a quaint, and functional, look.

These home makeover tips will give you that dream vintage-themed home without putting too much of a strain on your finances.


This is a guest post by Chandni Lal

Wednesday, December 18, 2019

What is the role of municipal corporations in cities and how do they help for harmonious living?

Author: Sachin Gupta | Find me on Twitter

Owning a home is a dream that most individuals and families cherish. Not only it provides for stable shelter, societal acceptance, financial well being, but it also enables easy access to the credit market by working as collateral comfort / security. As per the Census 2011, 31.16 per cent of the total population is in the urban areas. However, owning a home is just one piece of harmonious living in the city of your dream/choice. There are other pieces which provide for the true wholesome living experience in a city. Some of these pieces are civic amenities such as water supply, sewage, drainage, recreational parks, internal roads, maintenance of buildings, etc.

And all of these amenities are provided by the local municipal corporations. Without the proper functioning of these corporations, living in a city would hardly be enjoyable. Even though, private developers are coming up with self sustainable townships that can address some of these issues, but importance of municipal corporations cannot be underestimated. These are government official bodies that provide civic services and administer a city with a population of 200000 or more inhabitants.

Therefore, having the knowledge about these municipal corporations is important in order to make sure that above listed civic amenities are provided continually. In the following table, information about municipal corporations is provided for Indian states and union territories such as West Bengal, Uttar Pradesh, Uttarakhand, Tripura, Tamil Nadu, Sikkim, Rajasthan, Punjab, Puducherry, Orissa, Nagaland, Mizoram, Meghalaya, Manipur, Maharashtra, Madhya Pradesh, Lakshadweep, Kerala, Karnataka, Jharkhand, Jammu and Kashmir, Himachal Pradesh, Haryana, Gujarat, Goa, Delhi, Daman and Diu, Dadra and Nagar Haveli, Chattisgarh, Chandigarh, Bihar, Assam, Arunachal Pradesh, Andhra Pradesh, Andaman and Nicobar Islands.




Have any Questions?

Wednesday, December 4, 2019

How to calculate Reverse Mortgage Loan Monthly Payments?

Author: Sachin Gupta | Find me on Twitter

In our previous post, we covered the concept of Reverse Mortgage Loan (RML). We covered elements such as definition of Reverse mortgage Loan, eligibility criteria, amount that can be availed, and modes & nature of payments.

People from across the country showed substantial interest in Reverse Mortgage Loan.  And there were queries from ‘formula to calculate monthly payment’ to ‘paying the amount back to bank’. We cover all of this below:

Installment Amount = ((PV*LTVR-OTDA)*I)/ (((1+I)^n)-1)

Where, PV=Property Value;
LTVR=LTV Ratio;
OTDA=One Time Disbursement Amount;
n=No. Of Installment Payments;
I= the value of 'I' will depend on Disbursement Frequency selected.

For Example,
Property Value (PV) = 10, 00,000
LTV Ratio (LTVR) =80%
One Time Disbursement Amount (OTDA) =0
Loan Disbursement Period=15 Years
Disbursement Frequency=Monthly
Interest Rate (IR) = 9.25 %

Calculations: On the basis of the inputs:
The disbursement frequency selected is Monthly so 'I' will be IR/12(i.e. 9.25%/12)
No. of installment payments (n) will be calculated monthly e.g. if 15 is selected then the n=15*12=180
Putting the values in the formula:
Installment Amount=Rs.2, 070;


Here is a detailed example of Mr. Sharma, 62 years of age and own a property worth Rupees 1.5 Crores in Gurgaon. Mr. Sharma lives with his wife 59 years of age. Both his sons are married and settled abroad. On knowing about the merits of Reverse Mortgage Loan (RML), Mr. Sharma decided to check on the eligibility and monthly payment that he will be getting.

While he is clearly eligible for the same (find Reverse Mortgage Loan Eligibility criteria), he found it rather cumbersome to calculate the monthly payment that he will receive.

Property Value PV = 1.5 Crores (15000000)
Loan to Value Ratio (LTVR) = 80% (As specified by RBI)
One Time Disbursement Amount (OTDA) = 0 (No amount is disbursed in one go, instead banks pay monthly payments to applicant)
Loan Disbursement Period (n) = 15 years or 180 months
Disbursement frequency = Monthly
Current Interest Rate (I) = 10.25% yearly or (10.25/12)% = 0.854167% monthly

Calculating the monthly installment amount by putting all these value in given formula in excel:
Installment Amount = (((PV*LTVR)-OTDA)*I)/ (((1+I)^n)-1)
Installment amount = 28294

So, Mr. Sharma will be getting a monthly payment of Rupees 28294 for 15 years. Upon completion of 15 years, Mr. Sharma can either extend his Reverse Mortgage Loan (RML) payments or pay the outstanding amount to bank to get back his house.



Have any Questions?