If there is one investment advice that every salaried Indian gets from one’s parents, it is of buying a house. Nobody has ever lost money by putting it into real estate in the long-term.
Apart from that, it is a tangible asset that can convert your money into wealth. After all, money doesn’t grow overnight. It requires a thoughtful strategy to convert it into wealth and enjoy your retirement.
Let’s see why real estate is the best investment choice for a person today.
Real Estate Appreciates in Value
Property prices have risen steadily in the last 10 years. Some people have made as much as 100% by timely buying property. However, the key is to be in it for the long haul. When you buy real estate at the right time, you can pull out of it during your retirement to enjoy the benefits.
Unlike equities that depend on the market conditions, property investments are not susceptible to short-term fluctuations and are a tangible asset.
Gives an Alternate Source of Income
Do you find it pointless to invest in property because you already own your ancestral home? Well, buying property can generate an alternate source in the form of rentals. In most Indian cities, the rent is high and increases every time the lease is renewed.
During your retirement, it can become your steady monthly income and allow you to continue the same lifestyle. For instance, Hyderabad is an IT hub that attracts thousands of Indians from all over every year. This upper-middle-class segment generates demand for properties like Aparna One all year round.
When you are in the higher salary bracket, the taxes can touch the roof. An investment in real estate allows you to put your hard-earned money at a safe place that also gives you tax benefits. In India, you can buy a house by giving a 20% downpayment and financing the rest from a lender. As you repay the EMIs, you can claim a deduction of up to Rs. 3.5 Lakh from your net taxable income.
Better Credit Score
As you buy a house and pay your EMIs on time, it enhances your credit score. In the financial world, your credit transactions and behavior is recorded. It eventually becomes a deciding factor for the approval of your credit applications.
As the credit score improves, you can ask for better interest rates for your future loans. You can also get a higher limit for your credit cards.
Certainly Better Than Renting
Buying property may seem daunting at first. The EMIs may feel unaffordable and dissuade you from making a difference. Paying rents may seem easy. However, you lose all the money that you pay to your house-owners.
When you buy a house, it may cause discomfort at first. However, as your income increases, it will be easier on your pocket. Meanwhile, you will build a valuable asset in your name.
With so many benefits, an investment in property never goes wrong. However, you need to be sure to invest in the right place to ensure that your hard-earned money is safe.
If you want to invest in high-quality and affordable property in Hyderabad, go for Aparna Constructions without any second thoughts. This trusted developer has 24+ years of experience and 45+ projects to its name.