Buying a home doesn’t always mean just selecting the right property it is likely to be the biggest financial transaction of one’s life. Arranging funds together to buy yourself a dream home is actually a dream for everyone.
Not everyone is eligible to become a borrower to a home loan and claim tax benefit. With the rise of homebuyers seeking to purchase their own home
Many of us might wonder whether availing of a home loan at a young age is a wise decision or not advisable. Well, the answer is definitely yes, Let's know how it is beneficial to opt for a home loan at the young age.
In today’s competitive world, we all need money for everything from funding our own business to paying for the education of our children. One of the first thoughts to come to mind is, “where do we get this money from?” Nevertheless, there are many ways in which we can source money but from all of them, the easiest way is to opt for a loan.
No matter where you wish to live, owning a home is a goal for many individuals, couples, and families. It provides a sense of comfort, stability and creates a personal place that is a retreat and a source of pride.
The various policy and legal amendments have made the real estate sector more transparent and appealing for both buyers and investors.
Today, real estate has become more than a basic necessity; it has become an investment prospect. In today’s day and age, most of the earning population choose to invest their money in real estate projects – either for personal use or investment purposes.
So, after a balanced evaluation, keeping all factors in mind, it is best in most cases to not prepay a home loan aggressively. It is poignant to invest smartly and find attractive investment opportunities either in debt or equity and earn a superior return compared to the tax adjusted interest rate paid on the home loan. Draining your entire savings account to prepay a home loan and left with no fund to be used in cases of emergency is something you would like to avoid.