ADVANTAGES OF OWNING A HOME

   2021-03-15       11        Finance
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A home is a place where happiness exists. It brings a sense of security and comfort.

A home is a place where happiness exists. It brings a sense of security and comfort. Looking at the other side, many people struggle with the decision of buying a home or renting one. This article will help in giving you a clarity about the advantages of owning a home.

You are in control when you have a home of your own. There is no owner and you can renovate or update your home with the latest developments as per your desire. You do not have to deal with an owner for minor repairs, water, electricity, maintenance and almost everything else. When you are the owner of the house, then you have control over these factors. Another advantage about being an owner is that it gives you emotional security. It provides a sense of security and belongingness to your family members. After a stressful day at work one can look forward returning to home where a person can be truly at ease and happy. There is no place like home which makes a person be at their own comfort and leisure. When you don’t own a home there is an uncertain chance of termination of lease agreement by the owner but this doesn’t happen when you own a home. There is no anxiety of renewing the rent agreement. There is no uncertainty in your home. Rent is an expense and the general tendency is to reduce expenditure. Therefore, you may end up compromising on several aspects such as location, size and amenities.

On the other hand, when you buy a house make sure that your chosen property meets your expectations. Owning your dream home has become easier now with the availability of easy finance options. You need not wait till your forty to accumulate money for your dream home. You can buy it in your 30s and be a proud owner of a fully paid off home by the time you turn 50 or even before. You need to correctly choose a home loan lender who can offer you flexibility in managing your home loan repayment by tailoring your home loan EMI to suit your present and future income patterns. Renting is more expensive than the rent you pay. Paying rent is an expenditure but instead you can pay the home loan EMI thereby building your own asset over time. With every EMI paid by you, your equity in your home goes up. Home loan principal and interest re-payment, fetches you an attractive tax break. The cost is higher since you are not earning any interest on the deposit amount paid to the owner.

If you are to live in a particular city for long period of time it makes sense to buy a house so that you have a feeling of belongingness and permanency. You get to identify with the city and its lifestyle. Buying a home means you are enhancing your wealth over time. Delaying your property purchase will result in having to invest a higher amount in along with having to pay rent over an extended period of time.

If you are looking for a loan to buy a home or for construction loan to build a new home or looking for a Home renovation loan to repair or extend rooms in your ancestral property visit us www.repcohome.com or mail sales@repcohome.com. Repco Home Finance extends loan facilities to pr"

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Repco Home Finance Ltd (RHFL) is a professionally managed housing finance company head quartered in Chennai, Tamil Nadu. We were incorporated in April 2000. We are registered as a housing finance company with the National Housing Bank (NHB). 



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Repco Home Finance Ltd

Repco Home Finance Ltd (RHFL) is a professionally managed housing finance company head quartered in Chennai, Tamil Nadu. We were incorporated in April 2000. We are registered as a housing finance co..


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