Busting the common home-buying myths!

The Corona Virus pandemic has, literally, turned our lives around. We have learnt the value of health and social support. We have realized the impermanence of everything including jobs and business. What is permanent is our spirit and the fact that we have a home of our own which remains constant in every set back of life. There are a lot of myths centering around buying real estate.

Some Myths and Facts to help your journey to: Bliss”

Myth 1: It is better to rent than to buy

One of the biggest myths surrounding buying a home is that renting a home is better than buying. This generation of youngsters believe investing in buying a home would drastically reduce their spending capacity. They believe that financial investments will yield better results. What is true is that real estate purchases are ‘performing asset investments. A home either can generate rental income or help cut down rent in the short term. Homebuyers can also enjoy long-term capital appreciation and tax benefits. Often, the rent spent on a dead investment doesn’t generate any returns. HRA is only a smokescreen. not as glamorous as they make it seem. The younger generation will growolder,and they may crave a sense of ‘settlement’ that can only come through homeownership.

Myth 2:  Same amenities in all projects of the same locality

The amenities you get when taking possession are dependent on the builder. Choose a good and reputed builder and ensure you get the amenities promised before you step into your dream home. 

Myth 3: A big down payment is required to buy a home

Banks and financial institutions are more client friendly and will go the extra mile to accommodate the buyer’s payment options. Gone are the days when home loans took an arm and a leg to buy property

Myth 4: Real estate investments are risky

Any and every investment has a risk factor. Be its stocks, bonds, cryptocurrency, or real estate Real estate is one of the safest investments and the associated risks are much lower compared to others. It is a given that before you invest you should thoroughly investigate the builder, the project, the deeds and documents, costs, risk of construction delays

Myth 5: If the ads look good, the builder should be good

Advertising and marketing are an importantfeature of every real estate project. Don’t let the promotions and offers affect you. Take your time and research the project and the builder well before taking any decisions.

Home buying is a once in a life time opportunity.Make it a pleasant and rewarding experience. Enjoy your dream home

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