The COVID outbreak and subsequent lockdowns sparked a desire among individuals to possess their homes rather than rent them. There are several advantages to owning an apartment rather than renting, and the following are the top five advantages of apartment ownership:
Living without hassles — Renting may offer adaptability, yet it likewise accompanies vulnerability. No one can really tell when your landowner might request that you leave or request a lofty expansion in lease your own home gives you opportunity to communicate your thoughts. Having your own apartment allows you to live freely without being constrained by contractual constraints and the landlord's laws, whether it's for simple repairs or a major renovation.
Family security - Having your own house provides a solid roof over your head for the entire family, which translates to emotional security and stability. After a long day of tension, retreating to your own space provides an unrivalled sense of relief. Starting off bright and early on turning into a mortgage holder liberates you off monetary liabilities when you are more established, and gives you the opportunity to handily update. Buying a home provides the family with a secure asset in the form of real estate, which will appreciate over time. Unlike paying rent, which is an expense, paying the EMI on a home loan contributes to the growth of an asset.
A lifetime investment — If you flip your rent as EMI, you can turn into a property holder and appreciate solidness and security. With each EMI paid, your value in your home goes up. It helps support your total assets. Purchasing a home today is a costly proposition, and most people will need to take out a home loan. Having said that, owning residential real estate is a long-term investment that will provide security and stability to you and your family. Purchasing an apartment will undoubtedly pay off in the future if you decide to sell.
Ease of customization -Having your own house gives you the freedom to personalize and renovate the space to meet your changing demands. You are not bound by the norms and regulations of the landlord, and you are free to decorate your property according to your preferences.
Tax Benefits - In India, there are significant tax advantages on both the principal and interest on home loans. With a number of government initiatives in place, now is a great time to get a home loan and purchase your apartment.
Investing in a Property in a prelaunch phase is a great way to make your lifestyle secure and can become a source of rental income later in life. Do your research, and invest smart.
Prestige Park Grove by Prestige Grooup has created the perfect sized homes which is located in very prime location of Whitefield, Bangalore. Owning an Home at Park Grove will give you access to premium lifestyle amenities and exciting community living. The project features four clusters of 2, 3, and 4 BHK apartments, catering to the diverse needs of modern-day families.