Owning a Home

BY Sangeeta 28TH FEB 2017

A stay space where one lives on a day to day basis is what we call ‘Home’, which can be your own bought place or a rented apartment. Owning a home to yourself is one of the biggest financial decisions one makes in life. When one decides to buy their own stay space, there are certain things to look upon. There are ample of questions triggering the minds of buyers. Some of them be - Do I really need to buy this property? Is my income capable and is it going to grow soon? Are my savings enough? And so on. Before this decision one should really look upon how this purchase will change your lifestyle and finances.

Some of the positive aspects of buying a Home are:

  • Good investment : Property rates increase in value and give you back substantial returns.
  • Build Equity : Increase in value is more equity created and loan payments reduce over time.
  • Tax Deductions : Buying a home will reduce the amount of money you are paying in income taxes each year. Your mortgage interest and property tax payments may be deductible from your federal taxes, as well as many state taxes.
  • Ceate your Own Home : You are free to create your space the way you want, own a pet, a garden or a pool in a way you want it. Hero Homes in Ludhiana are highly dedicated to providing customization to buyers.
  • Privacy : It is your property and only people you allow, are welcome unlike your rent partner’s guest.
  • Credit History Strengthens: Regular paying of loans will help you become a reliable borrower and you will not be a defaulter. This will push the lenders to keep you in good books for your future loan requirements.
  • Boost Ego : There is always a great pride in owning a place, a property in your community and set an example. Hero Homes flats in Mohali are a great example of style with world class facility.
  • Generation Home : Home is a place where you can have the different generations live together. You pass on the home to your kids, grandchildren with just a little bit of change here and there.

Owning a home is definitely a win-win situation not only for your generation but also next if your finances are in hand.

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