Yeh Tera Ghar Yeh Mera Ghar

TownSIP Research ~ 15 min read

Traditionally when we save money from our earnings minus the expenses, we tend to invest or save that money. As it always said that “A rupee saved is a rupee earned”, typically every person would have his own way of saving or investing the savings, some would get into financial instruments like stocks, MF’s, FD’s, etc, some would get into gold or silver, some would be relaxed with the money being in their bank accounts and some would think of property
buying.

Remember our Ancestors always preferred a property buying as they used to value this immovable asset as their most precious decision/savings of their life. Let’s understand why everyone should have a house of their own.

Safe investment

  • Out of all the other investment options, a property investment/buying is supposed to be the safest and sensible decision as we have hardly heard about depreciation in the property value unlike any other forms of instruments.
  • A property is an immovable asset that cannot be stolen or lost like any form of a physical asset like Gold etc.
  • In case if you’re not consuming the property, it provides you a rental income to take care of it.
  • The appreciation of the property would always give you confidence that
    your asset value is growing year on year.
  • In case of any personal contingency, one tends to liquidate the available
    resources but doesn’t touch the property for en-cashing the reserves.
  • A property of your own can become your retirement home, can be given to your next generation, if not consumed can give you an assured rental income.

Tax benefits

  • Your home buying through a home loan will give you tax benefits, as a home loan gives you long term tax savings, these tax savings can be utilized for upgrading/maintaining your property.

Strategic decision

  • Home buying can be the biggest wise decision of your life as it gives a great satisfaction of owning your own home and can become the biggest asset to liquidate and use the funds for in case of any emergency situations.
  • Buying your dream home in a potentially developing area can fetch you great appreciations/returns at almost minimal risk as compared to any other investment option.

Community living

  • A well-thought decision to buy your dream home amongst your known community of like-minded people/friends can ease out so many challenges and provide an improved quality of life for you and your family.

Invest early for a better tomorrow

  • A well-thought decision to buy your dream home amongst your known community of like-minded people/friends can ease out so many challenges and provide an improved quality of life for you and your family.

Invest early for a better tomorrow

  • Buying a property decision at an early stage of life gives you all the benefits of saving more and enjoying the perks of your own property on retirement. In case of taking a housing loan at an early age, your EMI to income ratio will be always lesser than taking it at a later stage of life.
  • Buying a home at an early age also gives you an opportunity to clear off the loans and think of owning a second home before your retirement.
  • Buying a home using a housing loan also gives you a systematic and structured savings discipline for the long term. This is the best way to build in a big valued asset with the minimum rate of interest loan with tax benefits too.
  • Staying in a rented premise opens up many challenges such as stability of staying in one premise/area, a dream of designing your home as per your wish, continuous escalation in rental values, and dissatisfaction of calling the home your own.

Government policies

  • The government also provides great benefits for the first time home buyers such as tax benefits on stamp duty, Pradhan Mantri Awas Yojana (PMAY) where every first home buyer will get 2.5 lacs to 3.5 lac subsidy from Government, Credit Linked Subsidy Scheme (CLSS) a benefit under the PMAY which focuses on helping the Middle-Income Groups, Economically Weaker Sections, and Lower Income Groups in India by bringing down their housing loan EMIs by over Rs. 2,000 per month by offering an interest subsidy.
  • Moreover, Our Finance Minister presented a lot of benefits and focus in this year’s Union Budget 2020–21 for the real estate sector.
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