Frequently Asked Questions
Question about selling
Yes, the value of a house can depreciate over time, similar to other assets. The rate of depreciation can vary depending on several factors, including:
- Physical structure
The physical structure of a house tends to depreciate due to wear and tear from everyday use, and the presence of outdated technology like plumbing and electrical systems. However, newer houses tend to depreciate more slowly than older homes, and many physical depreciation factors can be offset with improvements over time.
- Land
The land a house is built on usually appreciates in value over time because land is limited in supply and demand increases with population growth.
- Other factors
Other factors that can affect a house’s value include maintenance, location, amenities, geography, and market conditions.
- Physical structureThe physical structure of a house tends to depreciate due to wear and tear from everyday use, and the presence of outdated technology like plumbing and electrical systems. However, newer houses tend to depreciate more slowly than older homes, and many physical depreciation factors can be offset with improvements over time.
- LandThe land a house is built on usually appreciates in value over time because land is limited in supply and demand increases with population growth.
- Other factorsOther factors that can affect a house’s value include maintenance, location, amenities, geography, and market conditions.
Old houses have unique architectural features and historical charm, adding value to the property. Old houses have lower purchase prices compared to newer homes. There will always be an opportunity for increased market value through strategic renovations.
- StockbrokersManage and execute the buying and selling of shares on behalf of clients. They may need a bachelor’s degree in finance or business administration, and in the U.S., they must be registered with FINRA and sponsored by an investment firm.
- Forex brokersBuy and sell currencies on behalf of clients.
- Real estate brokersHelp buyers and sellers find homes and draw up contracts. They may also facilitate inspections and appraisals, and negotiate contingencies. Real estate brokers need to have experience in real estate and pass a broker licensing exam.
- Discount brokersExecute trades on behalf of clients, but typically don’t provide investment advice.
- Full-service brokersProvide execution services, as well as investment advice and solutions. They may have in-house market research teams that produce reports for clients to access.Brokers are highly regulated and make all transactions traceable. They typically charge a commission for the order to be executed.
Calculating 10% of the premium, i.e. Rs 10,000. Since the premium of Rs. 40,000 exceeds 10% of the sum assured, the maturity proceeds from the insurance policy are taxable and do not qualify for exemption under Section 10(10D) of the Income Tax Act.
- Personal loansThe approval process can take one business day to 10 working days or more. Some lenders may have a quicker process, but on average, it can take 2–5 business days. The time it takes may depend on the lender, your finances, and your banking institution. If there are discrepancies in your application or documents, the process may take longer. To speed up the process, you can:
- Avoid applying on weekends or holidays
- Choose a lender known for quick processing
- Prepare all your documents in advance
- Check your application for errors
- Ask the lender about their usual approval timeline
- Avoid applying on weekends or holidays
- MortgagesThe approval process can take 24–48 hours, but may take longer if there are system delays or other issues. Lenders may ask for documents like employment letters, pay stubs, direct deposits, and tax returns.
Question about renting
- Physical structureThe physical structure of a house tends to depreciate due to wear and tear from everyday use, and the presence of outdated technology like plumbing and electrical systems. However, newer houses tend to depreciate more slowly than older homes, and many physical depreciation factors can be offset with improvements over time.
- LandThe land a house is built on usually appreciates in value over time because land is limited in supply and demand increases with population growth.
- Other factorsOther factors that can affect a house’s value include maintenance, location, amenities, geography, and market conditions.
Old houses have unique architectural features and historical charm, adding value to the property. Old houses have lower purchase prices compared to newer homes. There will always be an opportunity for increased market value through strategic renovations.
A broker is a person or company that acts as an intermediary between a buyer and a seller to organize and execute financial transactions. Brokers can work with many types of assets, including stocks, real estate, forex, and insurance. They may also provide market data and advice on products
Amount received from a life insurance policy is exempt from taxes as long as the premiums paid on the policy does not exceed 10% of the sum assured. However, there have been instances of taxpayers exploiting this exemption by investing in policies with high premium contributions and claiming higher tax exemptions.
- Personal loansThe average time for personal loans is 2–5 working days, but it can take longer if there are discrepancies in the application. Some lenders may offer quicker approval, and you might be able to get a loan in as little as one business day. Factors that can affect the approval time include your credit history, income, debt-to-income ratio, and the accuracy of your documentation.
- Home loansThe process for home loans can take about two weeks, but the exact time depends on the bank and the accuracy of the documents you provide