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We attained independence from the British rule exactly 74 years to this day and we became a free country. And now, we have been inching towards being the best versions of ourselves, but living in a rented house brings back those memories. Having a house of your own, on the other hand, will allow you to be more independent. Here’s how.
- Say Goodbye To Paying Rent
Imagine you pay a rent of Rs.20,000 per month and plan to live in a rented house for 10 years as your landlord increases your rent by 10% every year. So, at the end of 10 years, you will have paid over Rs. 25 lakhs just on rent. If you buy a home by paying a slightly higher amount every month, you can actually pay off a large portion of your loan in the same period.
- A Tangible Asset To Bank On
A home is a tangible asset, meaning you can sell it whenever you want to and make a sizable profit. Add to this, factors like inflation and year-on-year growth, owning a home will only make you richer in the long run.
- Get A Tax Benefit
The Income Tax Department offers a tax benefit on interest payments you make on a home loan, which can be to the tune of Rs.1,50,000. The same isn’t applicable on rent paid, so this is another added advantage of owning a home.
- Freedom To Design As You Please
In a rented house, you will have to sign a clause wherein you won’t have the freedom to change the colour scheme of the house or many any cosmetic changes as per your liking.
- Helps You With Community Involvement
You can’t always take part in community activities to the full extent living in rented houses because you personally may feel a barrier stopping you from doing so. Owning a home gives you that sense of ownership wherein you’ll want to actively contribute to your surroundings.
- Increases Stability
When you have a home, you know there’s one regular payment you have to make everyday. Besides, you don’t need to worry about any added increase in payments year-on-year like with annual rental increases. This also means you don’t need to go searching for a different house every few months which offers you the necessary peace of mind to work on important things in your life.
At HM Group, we provide a Price Protection Guarantee for the next 10 months wherein we confirm that for the same series apartment there can be no further lower price and if we do, we offer the same price to you. You can also save up to Rs.8 to 10 lakh on a 2 BHK home, thanks to your competitive pricing, by paying an initial booking amount of Rs.10,000.