Property in Bangalore Should you buy yourself a new home or should you simply rent one? This is a never-ending debate! Considering the real estate scenario in Property in Bangalore several real estate experts now recommend that buying a Property in Bangalore would be a lot more beneficial than renting one. Sans, the financial burden and the sudden commitment that you would be caught up in, buying a home can actually fetch you a wide variety of perks. With the market fluctuating wildly and with so many external factors influencing the real estate prices here are the real advantages of investing in a house rather than renting one, if you are a resident of Bangalore:
Rents and EMIs often Tally
If you are looking for a Property in Bangalore in a decent locality, one that is spacious and one that is packed with all the modern amenities then the rent is definitely going to be pretty high. Now there are several developers that deliver quality homes with all the sophistication at rates. So the EMI paid per month often would be very close to the actual rent that you might be paying. No matter how long you stay in a house and how much rent you pay, it is still not going to be your Property in Bangalore. But when you buy a house all the monthly expenditures go into a property registered in your name.
Easier and Affordable Home Loans
Housing loans are now easier to get than ever before. As long as you have a steady source of income, you would be able to easily qualify for a housing loan. And the process, on the whole, has now become quicker and a lot more convenient. There is very little paperwork involved and in a jiffy, you would be able to get the funds in your account. So if you are able to find a property that suits all your requirements, one that is a good value for money then you would be able to purchase it without any delay. No matter what tenure you look for you would be able to find a wide range of home loan types to suit every situation.
Who Wouldn’t like the Tax Benefits?
With the tax slabs changing you cannot fully rejoice when you get an increment. Without the right investments, a major chunk of your hard earned money goes in paying taxes. But when you own a Property in Bangalore, with your housing loan you would be given tax benefits. Money saved is money earned after all! For some, the income tax slab itself would vary once a home loan is applied.
A Great Investment in the Long Run
There are several places that people prefer to invest in including stocks, gold and more. But real estate continues to be one of the top choices of investment. Some buy a house in a locality where they might not be residing simply as an investment. And if you choose a sought after neighborhood you could also offer your house for rent and this can be an additional source of income which can further ease the burden of the monthly EMIs. Unlike most other investments, a property chosen in a stable real estate market comes with an appreciation value instead of depreciation. So when you choose to resell the property in future you would be able to fetch a good price for the same.
You are Inspired to Save More
Right from the time, you think about buying a Property in Bangalore you are inspired to save more every time. Larger the down payment you make less would be the financial burden in the form of EMI. Strict monthly budgets, automated saving strategies, and other such plans would have to be executed so as to meet the objective of accumulating funds for the house’s down payment. And even after you purchase the property given that you would be paying the EMIs for several years it would keep you motivated to save more and avoid unnecessary expenses.
Nothing Beats the Freedom of Residing on your Own Property
Finally, it is always a great feeling to have your own place that you can call “home”. And you have complete freedom to customize the house and modify it to suit your taste. Interiors and other modifications within the property can all be done without worry. And all of this can happen if you are ready to pay just a little more than what you pay every month as rent.
RERA has also now made things favorable for home buyers. And the property prices in Bangalore are now pretty good in comparison with other major metro cities. So now would be a great time to buy your own home and obtain relief from the hassles of paying rent and exorbitant rental advances for a house.