To Buy or To Rent?
A dilemma that majority face is the biggest decision of their life, To Rent or To Buy a house?
To answer the question yourself, you should be well aware of why would you want to own a house. Here let us give you some pointers as to why you should start investing on your home early.
-EMI payments would seem expensive now but would prove effective as the years go by.
-You get the sense of psychological pride and confidence that there is a shelter you can fall back on.
– No interrupting visits from the landlord every month.
-Predictive planning of finances over the years and no hike in interest.
If you are able to answer these questions and come to a conclusive decision of buying a home by availing a home loan, here are some major points to note down-
-Complete your KYC
-Processing fee payment
-Loan getting disbursed
Why EMI triumphs over Rent.
Paying an EMI is always better than paying Rent whose YoY increase is at least at 8%. Also paying EMIs on home loan is eligible for tax saving benefits also. With every EMI you pay, it is just inching closer towards the ultimate ownership of the property. It is not the same case with respect to paying rent on the monthly basis.