Most of the youth of current generation usually prefers renting a house /apartment in India due to affordability, ease of relocating and no burden of home loans however, a vital piece of real estate advice from Sankalp Group is that you must invest in a house if you live in India. There are multiple reasons to support this argument but, the prime ones are:
- Safety and Security – If you live in India and not a government servant then you must know that there are no welfare schemes for senior citizens like free housing, free healthcare or retirement pension. Having said that investing in a house can save you in your old age as you can rely on renting the place for monitory benefits, you can live safely without depending on anyone, you can leave a safe place for your spouse or kids to live on. Our real estate advice for this week is to invest in a house in your 30’s that can save you in your old age, a little retirement planning activity along with a secure investment option.
- Affordable Loans – In India home loans are the cheapest kind of loan you can avail. If compared to any other loan such as personal loan, car loan or business loan (which are offered at a minimum of 12 % – 30 %) A home loan comes as low as 7%. Real Estate Advise – it is a great idea to invest in home by taking a home loan as it offers flexible tenure from 5 – 30 years and lower interest rates.
- Capital Appreciation – Its valid that real estate investment doesn’t multiplies like stock market or crypto however, the best part is you can physically hold it and it does offers one of the best returns on investment. Especially in tier two cities and non-metros where real estate prices doubled in just five to seven years.
Investing in real estate, especially in a home / apartment is undoubtedly the best decision you will ever make as govt. policies might change even if you are a govt. servant. Owning a house will make you more financially sound, wealthier in coming years and will definitely provide a source of alternate income or a place to call home in your old age.
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