Like most investments, investing in real estate offers numerous benefits, especially when done at a young age. Although, it is never too late to start investing, beginning at an early age helps you have a longer investment horizon. This allows you to accumulate a considerable corpus and build wealth over a period. In fact, real estate is one of the most profitable long-term investments that you can make.
With a broad range of flats for sale in Bangalore and independent houses for sale in Bangalore, the opportunity to invest in real estate has increased manifold in recent times. You may consider investing in a reputed project such as Provident Park Square, which offers spacious 1, 2 and 3 BHK houses for sale in Bangalore.
Here are a few benefits of investing in a real estate property at an early age.
- Better accessibility to home loans
Home loans are a boon for homebuyers who wish to turn their dream of buying a home into reality. When you are young, you have a higher chance of availing a home loan as you have lesser financial obligations and greater scope for income growth. Moreover, you get longer repayment tenure with a lower interest rate.
- Higher returns on investments
Investing in real estate is a wise choice as it offers excellent returns on investments. Owing to power of compounding, you can reap higher gains in the long run. Moreover, real estate investments are a safe bet as compared to other forms of investment.
- Tax benefits and huge savings
If you are earning well and don’t want a significant portion of your income to go in paying taxes, you can consider investing in real estate to save you from paying taxes. If you avail a home loan to fund your dream home, you are entitled to receive an income tax rebate. As per Section 80C of the Income Tax Act, you can avail tax benefit up to Rs. 1.5 lakhs on the principal amount of the home loan. In addition, you can also avail a deduction on interest amount you pay towards your EMI. Thus, investing at an early age helps you enjoy tax benefits along with ensuring future savings.
- Asset creation
Most of us look at building assets at a young age and investing in real estate is an excellent opportunity towards that direction. When you purchase property, you not only save taxes but also create an asset for yourself. In the long run, the value of asset multiplies, thereby giving you significant gains.
From points mentioned above, we can say that investing in real estate at an early age can be a wise choice. Investing at an early age has multiple benefits such as better chances to avail a home loan at a reasonable interest rate and reduced terms and conditions. Moreover, you are likely to earn higher returns on your investment due to power of compounding. Most importantly, you are on the path of building an asset for yourself at an early age while saving on taxes.
Bangalore is known as the silicon valley of India and is a promising destination for someone in IT and even other industries. If you are planning to invest in a newly launched project in the prime location of Bangalore, consider a premium project such as Provident Park Square, which offers a wide range of independent houses for sale in Bangalore and flats for sale in Bangalore. The project offers spacious 1, 2 and 3 BHK houses for sale in Bangalore with luxurious in-house features and amenities at comfortable prices. The property comes with a well-maintained clubhouse with over 30 premium amenities.
Although, buying a home at an early age can be challenging, considering income source, expenses, and existing debts, among other factors, but with a home loan from a reputed company such as Bajaj Finserv Homes & Loans, you can avail a loan up to Rs. 3.5 crores on easy EMIs.
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