A decision of buying/owning a home carries a lot of confusion and a hip of advice. Well, the confusion is for all the right reasons as it is one of the biggest milestones of your adult life. Owning a home is considered one of the best forms of investment and a better option over renting. It is the longest money-making cycle of all the investments.
Although, the major concern while buying a house is the chances of overpaying or buying at the top of the market.
Here are some key reasons that might help you make the decision.
Houses have ever-increasing value
No matter how dynamic real estate is, the value of your property is likely to increase. It continues to expand over time and the capital price constantly rises. One thing to keep in mind is to invest at a proper location. Like buying an apartment in Pakistan, considering the migration and job opportunities will be a finer decision than going for other cities.
Passive Income Opportunities
First of all, remember to take firsthand advice and knowledge of the real estate market and then invest where you observe constant growth and stability. You have ample amount of options generate income. One way would be renting a home or rent cheap apartments. Another can be buying an old house, renovating it and selling for a greater deal.
You can enjoy a tax rebate. Get a deduction of up to Rs 1, 50,000 from taxable income in a financial year as payment towards housing loan. Plus get a deduction of two lakh per anum for properties that are self-occupied and which is ready to be acquired within three years from the end of the year in which the loan is taken.
Safe Option for Investing
Pakistan Real Estate Property has comparatively stable returns and risks. Also, its value is not much affected by external factors. Another reason why it is safe because buying one, two, three, BHK apartment does involve complicated mathematics moreover the there is less market volatility.
It Can Be Leveraged
Since a house is a tangible property you can easily generate finances for buying it. You can always rent it off and use to amount to pay the EMI, that way not all your savings are drained.