Are you around 25 years of age and saving money to buy your first home in a few years’ time? What if you were told you shouldn’t be waiting any longer? You might be wondering if this is the right time to take such a huge decision, right?
Don’t worry. Here are 5 benefits of buying a home early in your life –
1. No more house-hunting: How many times have you shifted from one rented home to another? Once you buy a residence, you would no longer have to go through the ordeal of house-hunting. Also, the rent you are paying now won’t build an asset for you. It’s wise to purchase a home and work out an EMI that’s equivalent to the rent paid.
2. Lower EMI: If you take a house loan early in your life, the loan tenure will be somewhere around 20-25 years. More the tenure, lower the EMIs. If you delay buying the house, obviously you will be eligible for a lesser loan tenure and your EMIs will shoot up as well.
3. Tax benefits: If you take a loan to purchase a property, you will be eligible for tax deduction against the interest paid on the loan. In addition, you can also claim deduction against the principal repaid under section 80 C.
4. Easy to own a second home: By the age of 35-40, you can accumulate enough funds to repay the loan. This gives you an opportunity to invest in a second home and secure your future.
5. Appreciation: Property prices keep on appreciating. If you invest in a growing location, you can earn great returns in the near future. Moreover, you also need to consider the fact that, if you delay buying a home, the property prices will keep on increasing and you will end up buying the same type of property at a higher price.
If you wish to start early and own a home, take a look at Ganga Aria, 2 BHK residential apartments in Dhanori Pune. To know more about these homes in one of the best Residential Projects in Dhanori Pune