A must-read list for every young, aspiring homeowner
To buy or rent is a question many young Indians grapple with. Especially in a city like Bangalore that thrives on well-paying IT companies and startups. Here’s how investing in a home early could help ensure continued financial freedom and set you up for life:
1. A Home is an Asset
If you flip your rent as EMI, you can become a homeowner and enjoy stability and security. With every EMI paid, your equity in your home goes up. It helps boost your net worth. Compare your rent with EMI here.
2. No Landlord Hassles
Renting may offer flexibility, but it also comes with uncertainty. You never know when your landlord may ask you to leave or ask for a steep increase in rent. Not to mention all the restrictions. Your own home gives you freedom to express yourself.
3. Attractive Tax Benefits
As a homeowner you can avail attractive tax breaks through your home loan principal and interest repayment. Interest paid for a self-occupied home can get you tax deductions of up to Rs. 2 lakh, and the principal amount can get you up to Rs. 1.5 lakhs.
As a renter, you are not only losing money on rent, but also losing out on interest on high deposit amounts that landlords ask for.
4. Stability & Security
Getting an early start on becoming a homeowner frees you off financial liabilities when you are older, and gives you the freedom to upgrade easily. It also gives you a sense of belonging and pride of ownership that helps you feel at home in an adopted city.
5. Right Time to Buy
Post pandemic there has been a significant drop in interest rates. However, that can soon change. If you’re looking to buy, now is the perfect time to invest.
For urban singles and young couples, investing in a starter home is a great way to secure an asset that offers an instant lifestyle upgrade, and can become a source of rental income later in life. Do your research, and invest smart.
Nandi Citadel has created the perfect sized starter homes with our phase 2 offerings. Owning an apartment at Nandi Citadel will give you access to premium lifestyle amenities and vibrant community living. Our value-engineered apartments are compact, affordable and come with over 2 acres of green, open spaces and a lake. It is a nature lover’s paradise!
Schedule a visit at Nandi Citadel to explore studios, 1, 2 and 3 BHK apartments perfect for young, first-time home buyers.
Nandi Citadel is an apartment project near Meenakshi Mall, off Bannerghatta road. It offers ready-to-move-in flats for sale in Bangalore’s increasingly popular residential area. New, upcoming apartments that are under construction are available for sale too.
Brought to you by Nandi Housing, one of the most trusted real estate builders in Bangalore, Nandi Citadel is one of the best low rise apartments in South Bangalore. These precast concrete homes come with elegant grey Sadarahalli stone walls.
Contact us @ 7899107777 to buy Studio, 1 BHK, 2 BHK or 3 BHK flats at Nandi Citadel – Your New Native Place.
