Hidden Benefits for Home Buyers
Aug 25, 2018 Real Estate News
We all know about the glaring benefits a home buyer enjoys. Be it investment returns or tax benefits, buying a home has always been a safe investment. Well, benefits are not limited to these but also several unsaid advantages.
Family and friends are happy now: It is your personal finance journey that not only you but also your parents look upon. Now that you have booked your flat, your parents are proud of you as you have grown into an adult. This change will bring you more respect among your friends as well. Besides, the parent now nurtures then the fact that you have taken your financial decision in the right direction. Suddenly, they look up to you!
Your employer trusts your more: Of all these, even your employer now knows that you are stable at a place. Usually, people buy their homes where they want to settle down. You take a home loan, and with a home loan, you do not wish to keep changing jobs as job security is a must now. Of course, your monthly EMI is always a burden. So, you try and perform the best at the office to gain yearly appraisal extra income. Hence, your employer will rely upon you more than ever.
With time home ownership gets easier: It is quite painful to see your first deduction of EMI from your salary. However, with time it gets more comfortable as your salary increases and you get used to it. After a few years, you realise that it is getting closure to close the home loan. So, it is soon going to be an asset for the future to sell or borrow against.
Your home your rules: Your landlord may have a lot of restrictions and regulations to live in the house. No pets, not interior decor change and so on. Now that you have your own place, you have your set of rules.
It helps improve your credit score: In case you do not have a long credit history or installment account, buying a home with loan helps. Your consistent payment reflects your credibility.
It is a kind of forced saving for you: As you make payment for your home every month, you make your equity. This is not in case of a renter; you pay the monthly rent that is not accountable as savings at all!
You will cook your rice better: Well, it is just a saying. Buying your own place has proven to have better mental as well as physical health. You have better community engagement. And above all, your children may enjoy better educational facility for you being a home owner.
Only you can decide the validity of above all being a homeowner and its hidden benefit.
Family and friends are happy now: It is your personal finance journey that not only you but also your parents look upon. Now that you have booked your flat, your parents are proud of you as you have grown into an adult. This change will bring you more respect among your friends as well. Besides, the parent now nurtures then the fact that you have taken your financial decision in the right direction. Suddenly, they look up to you!
Your employer trusts your more: Of all these, even your employer now knows that you are stable at a place. Usually, people buy their homes where they want to settle down. You take a home loan, and with a home loan, you do not wish to keep changing jobs as job security is a must now. Of course, your monthly EMI is always a burden. So, you try and perform the best at the office to gain yearly appraisal extra income. Hence, your employer will rely upon you more than ever.
With time home ownership gets easier: It is quite painful to see your first deduction of EMI from your salary. However, with time it gets more comfortable as your salary increases and you get used to it. After a few years, you realise that it is getting closure to close the home loan. So, it is soon going to be an asset for the future to sell or borrow against.
Your home your rules: Your landlord may have a lot of restrictions and regulations to live in the house. No pets, not interior decor change and so on. Now that you have your own place, you have your set of rules.
It helps improve your credit score: In case you do not have a long credit history or installment account, buying a home with loan helps. Your consistent payment reflects your credibility.
It is a kind of forced saving for you: As you make payment for your home every month, you make your equity. This is not in case of a renter; you pay the monthly rent that is not accountable as savings at all!
You will cook your rice better: Well, it is just a saying. Buying your own place has proven to have better mental as well as physical health. You have better community engagement. And above all, your children may enjoy better educational facility for you being a home owner.
Only you can decide the validity of above all being a homeowner and its hidden benefit.
