Roti, Kapda Aur Makaan!

A home is an essential part of our lives, especially in India. We may stay miles away from our hometown and may have moved thousands of kilometers away for work, but we all have a place that we call home. A home features among the basic necessities in our lives. Having a place to call one’s own is a matter of pride and satisfaction. Although the path to owning a home can be a bit challenging, it is always beneficial in the long run. In fact, in current times, a house is one of the best secure assets you can own. Here are four good reasons why you should own a home.

Cheaper Than Renting Over Time

Purchasing a home appears to be a more expensive and difficult option than renting a place initially. However, in the long term, buying a house has financial advantages. Instead of buying a house by paying in full, you may apply for a home loan to manage your money better.

Simply put, rent is an expenditure, whereas the EMI you would pay against your home purchase loan is an investment, in a way. Also, with time, the value of your property will keep increasing. However, there will be an increase in your rent while renewing or signing a new rent agreement (the typical period is 11 months).

Provides Tax Benefits

The most notable advantage of owning a home is the deduction of monthly interest from tax returns. Moreover, you may also claim a deduction of up to INR 1.5 lakh on the principal amount of your loan annually. Having a loan EMI to pay each month is also a great way to bring in a financial discipline which ultimately leads to savings and good financial health.

Freedom to Renovate

When you have your property, you are free to do whatever you like in your space. You can make major changes to the structure, modify rooms, and renovate your home entirely. Typically, when renting a place, you cannot make any permanent changes to the rented house as you need permission from the landlord. The freedom of having your own house allows you to make those changes as per your wishes.

Stability and Security

Staying in a rented accommodation requires one to move around every few years. On the other hand, owning a home provides a sense of stability and security. Over the years, as you build up your network in the neighborhood, you lay a permanent foundation for your family. Owning a house increases the security factor for the family. Even if the homeowner unfortunately dies, the family is at least saved from worrying about shelter.

Last but not least, a home for homeowners brings a sense of satisfaction and pride apart from the tangible benefits of ownership.

DMI Housing Finance has several products to meet your home loan needs. From plot purchase to home construction, our company can assist you all the way in making your dream of owning a home come true. If a home renovation is on your mind, we have a loan for that too. And, it is unbelievably simple to avail a home loan from us. All you need to do is fill-up the form on our website and let our team do the rest. If you face any challenges or concerns, please feel free to reach out to our helpful customer support executives via the toll-free number 1800 121 4214 or email us at customercare@dmihousingfinance.in or just simply give us a missed call on +91 9772027704 and we will call you back.

With the branch locator here, you can find the DMI Housing Finance branch nearest to you.

We hope you find your dream home soon with DMI!