This is the biggest decision that anyone makes, primarily because buying a house demands your entire savings. Hence, this decision needs to be taken by considering all the options available in the market. Since most of the people now prefer loans from the bank, therefore, one needs to be careful with the hidden clauses, terms, and condition before spending some hefty amount while buying a house.
Power Your Finance has a special division wherein you can get all the information about the various schemes, loans and interest rates available in the market. Moreover, we also help you suggesting the right time to make an investment. All this is easy for us because we have a dedicated team of people who research and study the market and its trends. Based on the data collected we prepare a portfolio of all plans, loans etc. available. When a customer approaches us, we first understand your requirement and budget, based on which we present you with the right option.
We have enlisted a few pointers that you need to take care while buying a house:
Set you budget- Most of the time, people aimlessly search for a house without looking at the investment. We suggest setting up your budget and by that, we mean calculating your expenses and saving for future; this becomes even more important when you are planning to take a home loan. Since some big chunk of your salary is going to go as EMI, it's better to pre-plan your expenses and savings.
Home loan schemes- Lately banks have come up with various loan schemes at lucrative interest rates that have inclined many people to buy a house. Most of the time banks finance up to 80-90% of the value of the house but it is important to be calculative while applying for a loan. Remember, you have to repay it so makes sure to understand each clause and evaluate the earnings growth potential so that you can easily payoff the loan.
Tax savings- Getting a home loan can help you save around Rs.1 lakh to 1.5 lakh on your income tax. But, don’t forget that loan is long term commitment hence, you need to strategically plan for it taking into consideration your earnings, expenses, and EMIs.
There many such nitty-gritties associated with buying a home, a good financial advisory firm like Power Your Finance will help you understand , plan and strategize your investment decisions. Moreover, we make sure that you get the loan at best possible interest rates. Get in touch with us today to know more about buying a home.
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