Underwater House

Underwater House

Home is one of the three basic needs. Once the man had perfected the art and science of making homes, he wanted to push the limits a bit more. The desire to create something unique has always driven men to discover new technology and things. One such drive led to the development of the concept that made the dream of making underwater establishments a reality. Though the idea was mostly borrowed from the science fictions, scientists and engineers from all over the world have been working on the construction of self-sustaining underwater housing complexes. Though the access to the sub-aquatic homes is reserved for the affluent classes, with time, it will be possible to make such homes for the common masses.

Underwater House

Purchasing the subaquatic homes

As it has already been mentioned that the construction of an Underwater House is a complicated and cost-intensive task, not all will be able to get the advantage of moving into one as of now. As special technology and materials are required for the construction of the sub-aquatic homes, the owner must be prepared to shell a lot of money to his/her dream home. But what if you are falling short of money? Does it mean you will have to leave the construction incomplete? The answer is no. One will be able to opt for home loans for finishing the building of such a house.

Is getting a home loan for this unique proper easy?

Once you have considered the option of applying for a home loan, the first question that will come to your mind is whether you will be able to convince the banks or the money lenders to give you credit. Let us face the facts. People do not often want to invest money in an underground house. Thus, the rules and regulations for providing the loan will also be different. If you think that getting a home loan for a sub-aquatic house is as simple as getting a home loan for a habitual abode is same, then you are in for a surprise. As the banks or the independent money lenders will only invest money in a safe option, they will think twice before funding this unique venture. The risk factors, associated with the sub-aquatic project will be enough to discourage most of the investors. As the technology and the concept are still developing, the money lenders will not want to take chances with their money. After all, the money lenders will want to ensure that they will get the money back with interest.

Underwater House

Reselling the sub-aquatic homes

Another problem, that the owners of an Underwater House face, is finding the right buyers for the underground house. Not all are aware of the presence of such properties. Even if they are aware of it, most do not have millions to purchase such a unique property. Others have their reservations and fears, which restrict them from taking chances. So, the real estate market for the sale or the resale of the submerged homes is not very profitable. If you manage to get a submerged home, you will not be able to find the right buyers for the property very easily. Thus, the percentage of people, opting for or investing in these properties is limited.

High rate of interests to be paid

The cost of the construction of sub-aquatic homes is very high. On top of that, special technology is required for keeping the pressure and the temperature of the interior of the house normal. Money is also required for making the house self-sustaining. Thus, the owner will require a lot of money as credit. As the risk factor, associated with these houses is high, the rate of interest that the banks or independent money lenders will charge will also be high. If you do not want to take the extra burden of paying the excessively high interests and taxes, then it is better to stay away from the purchase of sub-aquatic homes.

Scientists are working on simplifying the concept. With time, the technology will come within reach of commoners, and then, the special credit facilities will be established for meeting the requirements of interested clients.