Top 5 myths about buying a house busted
It is a no-brainer if you ask us. Our previous generations had kept it simple- you earn money and then you buy a house. Repeat. Of course, there were lesser investment options available, undoubtedly. But what would you do with all the investments if you don’t have a house to call your own? Don’t agree? Fair. Let’s take you through the myths you might have associated with this decision, one at a time-
Myth #1- Living in a rented apartment is the same as living in your own house.
We bet, in all the rented houses you have lived in, at least once you have been chucked out of it citing sale of the house as the reason; only to realize later that another tenant living there at a much higher rental. Moreover, ‘don’t keep pets’, ‘don’t have guys/girls over’, ‘don’t play music’ are only some of the many things said to you while closing the deal. Why would you want this instead of owning a house of your own and living the way you want?
Myth #2- Taking a loan is a headache.
At least, this loan is helping you build an asset. By paying rentals, you are basically donating that money, in a way. Yes, the EMI amount might be higher than the rentals you are paying, but how’s this any different than any other asset you are building? A car, for example. Buying a house is nothing but securing your future. Moreover, a house is an appreciating asset in the long run unlike any other type of asset.
Myth #3- People with transferable jobs needn’t invest in homes.
Consider this. How about you buy a house and rent it out? This way, even when you get transferred to another location, the rent from your house will cover your rent in the new city. Also, when you finally settle at your chosen city, you can decide to sell the existing one or continue using the rent.
Myth #4- Property value decreases with time.
Wherever the forces of demand and supply are at play, the returns will fluctuate. These investments require patience. The dips in value will be temporary, but over a long-term, it will only appreciate. Real estate is a buyer’s market, after all. Moreover, isn’t your rent also increasing every year? And paying rent is an investment that does not have any returns. It is an easy choice.
Myth #5- Not everyone can afford a home.
Well, we have got you covered on that one. Provident Housing understands your aspirations of owning a home and is happy to announce that the Freedom Online Home Fest is now live- it is the freedom to choose your life! You can book a home online between 15th-18th August and save up to Rs.12.5 Lacs*. You should buy an early bird coupon (till 14th Aug midnight) and save an additional Rs.73,000 to maximize your savings! Moreover, 5 lucky winners can win a newly launched OnePlus 7 Pro!
Say #GoodByeRentals! This is your golden chance to make your dreams come true!