“Home sweet home”, they rightly say. There is no better place than at home. We might go to Maldives, Venice or even to Mars, but our heart will always yearn to be at home. It is a feeling and not a place. We feel relaxed and at peace when we are in the comfortable nook of home. There is a sense of belonging that we get which embraces our soul.
Everyone at some point dreams of buying a home. It requires judicious planning and a well thought out plan. It involves a lot of responsibilities and commitments which are to be taken care of with utmost care and regard. Arranging funds is an important task in itself. For this, you have to start saving early. Delaying this process will delay your home. First-time buyers can opt for home loans as they offer funds instantly. The important point to consider here is the down payment to be paid. The funds must be arranged beforehand to prevent any problems in the future.
The loan can cover only 80 per cent of the expenses. The 20 per cent of the remaining funds should be from your resources. Before applying for a loan, you must start saving funds for the initial payment. You can invest in mutual funds for paying the down payment. You must also be prepared to pay the EMI’s if there are any. The longer time you invest in mutual funds, the higher will be the returns. The term of the loan should depend on your financial capacity.
Long term loan means the monthly payments will be lower. Compare the interest rates and the terms of the repayment. Home loans offered in Public Sector Banks are quite cheaper and offer a lower rate of interest. Home loans offer tax benefits. The interest on a loan for buying or constructing a house is eligible for tax deductions. In case of a joint home loan, both the persons can avail tax exemption.
The Government also offers a lot of incentives and privileges for first time home buyers. SIP SIP is a great choice of investment depending upon your affordability levels.
For further assistance and support, feel free to contact Goodwill at admin@gwcindia.in or give a call at +91 - 44 - 4020 5050.
For more info visit: https://gwcindia.in/
Everyone at some point dreams of buying a home. It requires judicious planning and a well thought out plan. It involves a lot of responsibilities and commitments which are to be taken care of with utmost care and regard. Arranging funds is an important task in itself. For this, you have to start saving early. Delaying this process will delay your home. First-time buyers can opt for home loans as they offer funds instantly. The important point to consider here is the down payment to be paid. The funds must be arranged beforehand to prevent any problems in the future.
The loan can cover only 80 per cent of the expenses. The 20 per cent of the remaining funds should be from your resources. Before applying for a loan, you must start saving funds for the initial payment. You can invest in mutual funds for paying the down payment. You must also be prepared to pay the EMI’s if there are any. The longer time you invest in mutual funds, the higher will be the returns. The term of the loan should depend on your financial capacity.
Long term loan means the monthly payments will be lower. Compare the interest rates and the terms of the repayment. Home loans offered in Public Sector Banks are quite cheaper and offer a lower rate of interest. Home loans offer tax benefits. The interest on a loan for buying or constructing a house is eligible for tax deductions. In case of a joint home loan, both the persons can avail tax exemption.
The Government also offers a lot of incentives and privileges for first time home buyers. SIP SIP is a great choice of investment depending upon your affordability levels.
For further assistance and support, feel free to contact Goodwill at admin@gwcindia.in or give a call at +91 - 44 - 4020 5050.
For more info visit: https://gwcindia.in/
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