6 Reasons Why you should Buy Home

1. 6 reasons you should buy a home If you are planning to buy a new home, but are still having second thoughts about it, then just relax and sit back. Having reservations is normal. The more you know about why you should buy a home, the less scary the entire process will appear to you. Here are the six good reasons why you should buy a home. 1. Building equity:​​One of the best thing about owning a house is building equity. Instead of throwing money away on rent every month, you are putting it in your home. You also have the option to sell your house in near future at an appreciated value to earn profits. You can take this money and put it toward retirement or use the equity to help you move to a nice home. 2. Source of income:​​If you are purchasing a property that you plan to rent out, you’ll be able to earn profits from your investment as soon as you find tenants. Then you can take the money you earn and reinvest it in your property or use it to pay off other bills and debts. 3. Pride of ownership: ​​Pride of ownership is one of the most important reasons why people yearn to own their home. It means you can paint the wall with any color you want, turn your music up and decorate your home according to your own taste. Hence, home ownership gives you and your family a sense of stability and security.

2. 4. Stability:​​Renters face the threat of rent increase every year along with the renewal of their rental agreement. Worse, your landlord might sell your apartment or home, forcing you to move with little warning. But once you have your own house, you have a reliable place to live. Plus, owning your own home gives you a set neighborhood, schools and community that you can call your own. 5. Tax break on mortgage interest:​​Home ownership provides tax shelter to homeowners. You can deduct a percentage of your interest from your taxes. This can help you reduce the overall amount that you pay in taxes each year. The newer the mortgage, the higher the interest payment each month which means greater tax breaks. Thus, it is an additional perk to owning your own home. 6. Low-interest rates:​​As per the current market scenario, the interest rates on home loans are very low. In some areas, your mortgage payment could be less than your rent. So, it’s the best time to ​apply for a home loan​​ and fulfill your desire of owning your dream house. Conclusion:​​If you are planning to buy a new home and still having second thoughts about it, then just relax and sit back. There are so many reasons, why you should have your own house. One of the best things about owning a house is building equity. Instead of throwing money away on rent every month, you are putting it in your home. You can also sell the property in near future to earn profits. Next, you can rent it out to earn income. You can take the money you earn and reinvest it in your property or use it to pay off other bills and debts. Further, owning a house gives you and your family a sense of stability and security. You can paint the wall with any color you want, turn your music up and decorate your home according to your own taste. Plus, owning your own home gives you a set neighborhood, schools and community that you can call your own. Homeownership also provides tax shelter to homeowners. You can deduct a percentage of your interest from your taxes. This can help you reduce the overall amount that you pay in taxes each year. So, buying a house is a really good investment, and if you do not have enough funds for the same, you always have the option to apply for a home loan. You can compare offers and interest rates of various banks and NBFCs through online aggregators and choose the one meeting all your requirements. So, buying a house is a really good investment, and if you do not have enough funds for the same, you always have the option to apply for a home loan. There are several banks and NBFCs that offer home loans at lucrative interest rates and help you in fulfilling your dream of having your own house.