5 reasons to buy a house in the early stages of your life
Buying a residence in your twenties or early thirties will assist you in securing your economic status. Having an asset, you can call your very own is an invaluable asset that will be of brilliant value in the long run. Studying the market closely, and evaluating distinctive brandes, localities, and different loan preferences will help one go via the procedure of owning a luxury home in an extra convenient and comfortable manner.
1. Younger the better
Everybody will have a dream of owning a luxury home for themselves. At a younger age, you won’t be having many financial burdens to carry, so, it would be the right time to buy a luxury apartment. And at a mature stage of your life, most probably in your middle age, you will have no burden, as you might have paid off all the loans. Starting younger helps you in saving early. And an added advantage is that the EMI on your loan can be a wee bit smaller as the loan tenure can be longer for a younger person.
2. High ROI (Return on Investment)
With each passing day, the cost of construction is getting higher and higher, which makes investing in a home a benefit for you tomorrow. And these days there has been a steady growth in land prices, once you study the market well and invest in the right location you can be sure that you will get a high appreciation of the value of the property. So, with time, you not only are saving but also multiplying your savings. This is what makes buying a luxury house or apartment a better investment than a fixed deposit or shares.
3. Creating an asset
A real estate investment is a treasured asset. As time passes, frequently the price of the property will increase making it a great value. One can select to sell the property and use the profit and the larger corpus to purchase a larger property or for the education of their children or for any emergencies that can also arise.
4. Little risk involved
Investing in real estate gives you the least risk. If the purchaser does full-size research about the distinctive locations, extraordinary builders, and specific possibilities to invest, one can purchase a property that will not only protect their financial savings but expand its value handsomely. Opt for a reliable builder with all required approvals for a simple and enjoyable buying experience for your luxury apartments.
5. Tax benefits
While buying a house you will take home loans, and when you avail a home loan, you will get tax deductions against interest paid on the loan amount. You will be eligible for a deduction against the principal repaid under Section 80C on income tax. So instead of paying high rentals, you can just own an asset and pay the loan amount.
Therefore, it makes sense to take this decision early on in life. This is one investment that will not fail you, even in the worst of circumstances. At most, the appreciation in value may be a bit slower, but there is nothing like having your own home early in life. It’s always great to have luxury apartments in Chennai.
To buy a luxury apartment in Chennai, check SPR City, Chennai’s Largest Integrated Township spread over 61 acres with a range of investment options from Luxury Apartments, Bespoke Bungalows and Retail & Wholesale Shops along with 75+ Joyous amenities.