Living in a home owned by you is the best thing in the world. So, once you have accumulated sufficient savings for initiate the deal for buying a home and your stable or growing income is good for banks to support you, buy a home as soon as you can. Money is indeed a dirt of your hands and you don’t even realize when it slips off. So it is wise to invest as soon as possible. It has numerous advantages over living in a rented accommodation.
1. Greater Privacy:
Your own home gives you the best personal space ever. It is your actual abode and has greater privacy and independence to make changes. Maintenance is easier as you don’t need to take permissions from your landlord to get the plumbing, furnishing, mason work etc. done. Nobody will nag you about paying rent in advance every month, you monthly installment gets debited from your bank account automatically and so there is no tension about it.
2. Asset Value:
This is one of the best aspects of owning a home and you will love reading this one. While you pay your installment, the value of your house also increases with time. Property is one asset which mostly only appreciates with time hence, enhancing the value of your money. So, you are not actually putting a dent in your pocket if you own the house you are living in. Moreover, if your house is in a reputed township like Brigade Omega, its value will increase at good rate.
3. Hassle Free Maintenance:
When you buy a house, you don’t expect to spend on maintenance. This is why it is important to buy a residential property built by a trusted realty group like apartments in Banashankari and other developing and developed areas. These flats or apartments have good workmanship with no compromise in quality, so, the owner doesn’t have to spend unnecessarily on maintenance for a considerable amount of time.
4. Fixed Rate of Interest on Loans:
One needs to be meticulous while investing savings because they are hard-earned and precious. So, when you invest you sure just want your money to grow rather than giving it away in fluctuating interest rates. Buying a residential property or owning a house is the best to ensure your money grows as the value of your asset increases; moreover, home loans have a fixed or stable interest rate which makes you monthly budgeting simple.
5. Tax Benefit:
Interestingly, if you are planning to buy a 4bhk flat in Bangalore, and are apprehensive because of tax, you don’t have worry as you will get a good rebate annually. This furthers your motive of managing your finances as simply as possible and saving some more.
6. Social Status:
Owning a home also adds to your social status. When you tell people you own the property yourself, your confidence is boosted, especially if it is at an early stage of your career. So if you are a young buyer and are planning to achieve your goals then make sure buying a home is one long-term goal you start working towards as early as possible. The sooner you start attempting and accumulating the money for this, the sooner you will achieve it.
Ramanujan Sahay is a professional writer. He writes on various topics like Real Estate, Technology, Business Food etc..