Real Estate Investment is a big decision. There are umpteen processes that have to be followed before you become the owner of your own house. This real estate sector has evolved a lot to simplify everything for home buyers. Featured are five reasons why investments should be made in properties immediately.
(i) Property Rates are Appreciating
Real Estate is indeed one of the best investments as it will increase in value over time. Places like Bangalore and Whitefield are becoming investment hotspots where MNCs are opening up in these localities. While properties in Bangalore may not cost much now, they will become costly if put off for a few years.
(ii) EMI Payment is better than Rent Payment
Although hugely increasing property prices are good news for buyers, they, unfortunately, aren't good news for renters. Rents are expensive, particularly in hot spots of the city. Living in a rented house signifies a massive chunk of the salary consumed by monthly rent. This rent will also increase from here. The best option here would be to pay for EMI, and this is an excellent financial option.
(iii) Reforms in Real Estate have simplified things
Speaking of a home-buyer, it is the right time to invest in real estate. A lot of reforms have altered the domain of real estate investments, simplifying everything for homebuyers where they are motivated to invest more in real estate. For first-time property buyers, things are simplified very much.
(iv) The advantages of Tax Breaks
Real Estate Investments is one of the best ways to benefit from tax cuts. Should your home loan interest be less than Rs 1,50,000 and the principal amount is up to Rs 1,00,000 then it says that you are eligible for tax cuts every year. You make more money in the long run and save it in the short term.
(v) Invest when young
Young home buyers get more preference when applying for a home loan since they have several working years so that they can pay off their mortgage. The home loan related EMI is lower, the younger you are. Real Estate investment when young, leaves more room to make more investments as you grow. If you are in your twenties and get a steady income, there isn't a better reason as to why you should invest in real estate. Particularly in the villas in Bangalore or Villas in Whitefield.