Buying a home is a decision of a lifetime. Many a times we don’t wish to get into the EMI trap and continue moving to various rental spaces. However the Coved 19 pandemic aftermath has led many of us to think of owning our own residential space. While the overall scene still looks bleak and gloomy with pay-cuts, job losses and uncertainty all around, however owning an apartment is way better than dealing with the uncertainties of living in rented accommodation.
Having said the above, it is not advisable to invest a huge chunk of your savings in your own home currently; depending on your liquidity and EMI payment capacity you may explore economic, budget-friendly options too.
Now let us explore why it is crucial to own your home in these turbulent times.
In metros and Tier-I cities, people have to pay rent through their nose. In these unprecedented times your landlord may decide not to rent that property any longer or may increase the rent suddenly leaving you with little choice to either increase the rent or pay the higher amount. Also in current scenario, people are worried and anxious about their ability to pay monthly rentals especially with pay-cuts, job loss etc. You would happily pay a thicker EMI than your rental, simply because you own that asset, your own home.
In the current scenario, people are slowly realizing the importance of having their own home. It is asset and a great investment option. For first time buyers it is a big relief from paying rent every month and for those buying for investment purpose it will provide steady returns in form of rental income. These turbulent times will definitely play a crucial role in an individual’s home buying preference in years to come.
Over last few years individuals were flocking stock markets and made good money too. However with the onset of Covid 19 pandemic, the stock market has turned quite volatile and uncertain. People are warily investing in share market now. Real Estate is a more reliable option offering steady returns compared to the highly volatile stock market that comes with heightened risks. It offers a sense of security to the individual that an equity investment cannot provide.
With Banks lowering lending rates for buyers, it is an opportunity that cannot be missed. So if you have been planning to buy a residential space, it is good time to take the plunge. So while the prevailing lending rates are attractive, the investment is also creating an asset for future.
For the budget you may have decided upon, you might get better deals or you may use the additional amount for interiors work for the apartment being purchased. A lower interest rate means you may raise a higher amount of loan. So you may be able to buy a bigger home or one with better amenities and at a better location.
The borrower may even opt for a fixed rate of interest at lower levels, get rid of the stress arising out of the interest reset practices followed by various lending institutions. That will eventually help in making considerable savings in years to come. (Floating rate tends to increase/fluctuate over time). Fixed rate also means stable EMIs.
A great benefit of owning a home (while availing a home loan) are the tax benefits you get (on principal and interest payments) under various sections of the Income Tax Act. Affordable/Economy Housing comes at still cheaper prices. Every penny saved through these benefits is your hidden savings.
Freebies and Discounts from Real Estate Developers
This pandemic has hit every sector alike; real-estate is no exception. Most developers have announced various schemes, easy payment terms, discounts; many are offering semi-furnished apartments etc. For the price offered all these freebies make the situation win-win for the buyer. This is one of the primary benefits to own home.
The above said would surely convince you to think seriously about owning your home given the savings you would make. Besides real estate has always been a valued investment proposition in India. Since liquidity and financial uncertainty currently drive our buying decisions you would need to figure out projects that meet your requirement and don’t make a huge dent on your pocket too.
Buying a home is a great achievement, although slightly challenging but the benefits of owning one make it worth all the pain. With attractive payment options to choose from and discounts/freebies from developers in prevailing pandemic situation, we must use it as an opportunity to turn the tide in our favour. Go for it !
So if you’re based in Pune and don’t wish to invest a fortune into buying a home, Talegaon is a great option.
Now let explore and assess as to why invest in Talegaon.
Talegaon, a satellite city near Pune is an emerging industrial hub offering excellent and varied job opportunities. Located on the Mumbai Pune highway, it is 45 minutes drive from Pune and 2 hours drive from Mumbai. The area has good connectivity via Road, Rail and Air.
Talegaon has good social infrastructure and amenities; you would get some of the top investment options in Talegaon. There is no dearth of residential projects in the area.
But given the market conditions, it is critical that you pick the right builder. With liquidity crunch many developers might go bankrupt, delay/stall projects, so you need to identify and bet your money on a reliable, honest developer.
Namrata Group is a prominent and renowned real estate developer with great legacy. The developer is known for construction quality and delivering projects in time. Buy flats in Talegaon from Namrata group, there is an array of projects in varied price range; pick the one that suits your budget and requirements.