{"id":2075,"date":"2019-06-25T11:19:01","date_gmt":"2019-06-25T05:49:01","guid":{"rendered":"https:\/\/www.providenthousing.com\/blog?p=2075"},"modified":"2024-08-21T14:20:10","modified_gmt":"2024-08-21T14:20:10","slug":"a-quick-guide-to-save-for-your-dream-home","status":"publish","type":"post","link":"https:\/\/www.providenthousing.com\/blog\/a-quick-guide-to-save-for-your-dream-home\/","title":{"rendered":"A quick guide to save for your dream home!"},"content":{"rendered":"<div id=\"dslc-theme-content\"><div id=\"dslc-theme-content-inner\"><div>\n<p><strong>Read type- Quick Read<\/strong><\/p>\n\n\n\n<p><strong>Read time- 2 minutes<\/strong><\/p>\n\n\n\n<p>Buying a home is like a dream that is inherited by most of us from our families just like genes, habits and in some cases, money. The ultimate goal in life, a sign of having arrived, a boost to your self-confidence or security for your children- owning your own home can be as gratifying as it gets!<\/p>\n\n\n\n<p>And since it is a &lsquo;must-achieve at least once&rsquo; kind of a milestone in your life, it becomes a long-term financial goal which requires saving money for the down payment, ensuring future inflow for EMIs and then trying for early-closure of the loan for the remainder of your life. So, how about we make this calculation easy for you?<\/p>\n\n\n\n<p>Firstly, if you are well-versed with the savings options available in our country, you probably have invested in mutual funds already. For the rest of you who are uninitiated, mutual funds are a basket of securities wherein you invest your money to grow, and your money is further invested in organisations across sectors and capitalizations in order to diversify.<\/p>\n\n\n\n<p>For any long-term investment goal, it is advisable to start your investment in equity- oriented mutual fund via Systematic Investment Planning (SIP). This is because equity MF might provide better tax-adjusted returns in the future and SIP diversifies your risk over time and averages out the cost. Now, let us take a hypothetical example of you wanting to buy a house worth 1 Cr, 15 years from now.<\/p>\n\n\n\n<table class=\"wp-block-table\">\n<tbody>\n<tr>\n<td><strong>SIP amount<\/strong><\/td>\n<td><strong>Rate of return*<\/strong><\/td>\n<td><strong>Rate of Inflation*<\/strong><\/td>\n<td><strong>Period of investment<\/strong><\/td>\n<td><strong>Maturity Amount**<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Rs 25,000<\/strong><\/td>\n<td>12%<\/td>\n<td>6%<\/td>\n<td>15 years<\/td>\n<td>~0.73 Lakhs<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n<p>*Assumed rates (hypothetical)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **As per https:\/\/sipcalculator.in\/result<\/p>\n\n\n\n<p>So, if you invest Rs 25,000 per month till 15 years, you shall accumulate roughly 73% of the house cost for the down payment and consider a loan for the rest of the amount. There can be below two variations in this arrangement-<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>You can start a smaller SIP and keep increasing the amount as your income increases<\/li>\n<li>You aim for a lower down payment or a lower period of investment. We have tried to maximize the down payment to save on the interest you end up paying on the borrowed amount.<\/li>\n<\/ol>\n\n\n\n<p>At <a href=\"https:\/\/www.providenthousing.com\">Provident Housing<\/a>, we appreciate and understand your dreams and the efforts behind them. We plan our houses just like you plan your money to buy them- with careful calculation and a lot of hope! We invite you to be a part of our family.<\/p>\n<\/div>\n<\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>How about we make the money-planning easy for you?<\/p>\n","protected":false},"author":1,"featured_media":2076,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[314],"tags":[],"class_list":["post-2075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tips-advice"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A Quick Guide to save for your Dream Home! | Provident Housing<\/title>\n<meta name=\"description\" content=\"At Provident Housing, we value and comprehend your aspirations and the work that goes into achieving on buying a new home. Join our family Provident Housing!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.providenthousing.com\/blog\/a-quick-guide-to-save-for-your-dream-home\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.providenthousing.com\/blog\/a-quick-guide-to-save-for-your-dream-home\/\" \/>\n<meta property=\"og:site_name\" content=\"Provident Housing\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-25T05:49:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-21T14:20:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.providenthousing.com\/wp-content\/uploads\/2019\/06\/Blog.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Provident Housing\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Provident Housing\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.providenthousing.com\/blog\/a-quick-guide-to-save-for-your-dream-home\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.providenthousing.com\/blog\/a-quick-guide-to-save-for-your-dream-home\/\"},\"author\":{\"name\":\"Provident Housing\",\"@id\":\"https:\/\/www.providenthousing.com\/#\/schema\/person\/bbdb0dc9d799337b7e39b5000ed19e62\"},\"headline\":\"A quick guide to save for your dream home!\",\"datePublished\":\"2019-06-25T05:49:01+00:00\",\"dateModified\":\"2024-08-21T14:20:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.providenthousing.com\/blog\/a-quick-guide-to-save-for-your-dream-home\/\"},\"wordCount\":416,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.providenthousing.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.providenthousing.com\/blog\/a-quick-guide-to-save-for-your-dream-home\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.providenthousing.com\/wp-content\/uploads\/2019\/06\/Blog.jpg\",\"articleSection\":[\"Tips &amp; Advice\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.providenthousing.com\/blog\/a-quick-guide-to-save-for-your-dream-home\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.providenthousing.com\/blog\/a-quick-guide-to-save-for-your-dream-home\/\",\"url\":\"https:\/\/www.providenthousing.com\/blog\/a-quick-guide-to-save-for-your-dream-home\/\",\"name\":\"A Quick Guide to save for your Dream Home! | Provident Housing\",\"isPartOf\":{\"@id\":\"https:\/\/www.providenthousing.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.providenthousing.com\/blog\/a-quick-guide-to-save-for-your-dream-home\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.providenthousing.com\/blog\/a-quick-guide-to-save-for-your-dream-home\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.providenthousing.com\/wp-content\/uploads\/2019\/06\/Blog.jpg\",\"datePublished\":\"2019-06-25T05:49:01+00:00\",\"dateModified\":\"2024-08-21T14:20:10+00:00\",\"description\":\"At Provident Housing, we value and comprehend your aspirations and the work that goes into achieving on buying a new home. 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