Buying a new home marks a major milestone in your life. It’s a decision that may require ample finance, but also offers you an asset you can depend on. From desiring a swimming pool and a gym to wanting a large kitchen or garden space, you may have your own unique concept of a dream home. Luckily though, today, real estate developers offer you a range of customisations to choose from in an apartment. For example, Pacifica Reflections in Ahmedabad offers you ready-to-move-in 2BHK to 4BHK penthouse apartments. Similarly, Applewoods Sorrel offers you world-class amenities like gym, entertainment zones, and clubhouse within the premises. So, while availing of the ideal configuration and the best lifestyle amenities may not be an issue, financially speaking you may be still worried if this is the right time to buy a property.

To ease the jitters, here are 5 reasons why you should consider buying your dream home now.

1. Discounts and offers of the season

with the festive season still on, now is a great time to cash-in on the end of the year deals and discounts on offer. Free modular kitchens, interior furnishings, gadgets, fully slashed GST, offers on EMI, no registration fees and stamp duty charges, membership perks, and free parking are some of the amazing benefits you can enjoy this Christmas and New Year.

2. Increase in rental rates and appreciation

Rental rates have been on a rise even as capital rates have stayed put. With affordable home loan EMIs, you can now become a homeowner by funneling your income towards property purchase each month. Buying a property earlier rather than later gives you a hefty increase in appreciation over the years and will cost you less too.

3. Offers a scope to build your equity

Equity refers to what you truly ‘own’. It refers to how much your property is worth after all debts and liabilities are done with. Once free from debt, like a home loan, your property becomes solely yours and you can sell it for hard cash, if need be. Moreover, buying early gives you a chance to pay EMIs while you can afford them without any financial hitch. This, in turn, gives you enough time to build on your reserve of equity.

 4. Availability of step-up EMI facility

The step-up facility on your home loan allows you to boost your EMIs in proportion to your yearly raise and rise in income. Lenders may agree that every 3-5 years or so, the EMI will be boosted by a pre-determined amount. Buying a home early in life ensures that you have a longer duration to witness raises in income. This is a win-win situation for you. Firstly, you get to own a home at a low EMI, and secondly, increasing EMIs means you repay the loan faster via a shorter tenor. Additionally, shorter tenor means that you pay less interest in the long run.

 5. Better loan eligibility and repayment tenor

The younger you are, the more will be your years in employment and the lower will be your fixed financial obligations. These factors will help you avail of a larger loan amount. Secondly, with more working years ahead of you, you can choose to repay your home loan via a longer tenor. While it is better to choose tenor reduction over EMI reduction, as you will end up paying less towards your overall interest obligation, buying early gives you the opportunity to space out your EMIs as per the tenor. This allows you to budget your expenditure with earnings in a better way without letting your finances suffer.

You can lower the financial burden of moving into your dream home by benefiting from home loans by Bajaj Finserv Homes & Loans. Here, you can get your hands on a large loan amount of up to Rs.3.5 crore that you can pay back through a lengthy tenor. With minimal documentation and zero prepayment and foreclosure fees, this is a hassle-free home finance solution. What’s better is you can also avail property search assistance to find the home that’s just right for you. By filling in a few basic contact details online you can expedite the process of availing these funds. Make the most of this compelling solution by checking your pre-approved home loan offer here.

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