Home Buying - A good investment
The trend of having multiple properties is not something new but
this is becoming a mass act these days.Earlier multiple buying
was not very common practice but these days it's the hot
favorite of the public to buy more than one house or land or any
other form of property. The middle class or upper middle class
find property buying better than investing money on gold or even
in stock market.These days loan facilities are easily available
and the customer has lot many options.The financial institutions
are providing their customers attractive offers.The financial
status of people gives them a freedom to go for second
property.In some cases the need of a bigger house leads to
another property buying and people prefer to retain their
previous property as an investment.
Real Estate deal is a deal of appreciation especially land.Land
value usually appreciates with the passage of time.The middle
class is the biggest movers in this area as they are finding it
the safest and easiest mode of investment.Job confidence is
giving them the power to pay back loans easily and quickly.For
some this is just for leisure.People prefer to have houses in
hilly areas or some religious place where they often visit.
Canfin Homes Chief Manager T Bakthavatchalam says that in the
early 1990s with interest rates prevailing at 17%, the
eligibility of a person was half of what it is now. Interest
rates today have enhanced the repayment capacity of a person.
The benefits from income tax too, were also not so much. A
person would get a rebate of only Rs 30,000 , and income tax
benefit on principal amount was only Rs. 10,000. Today, however,
income tax benefits on interest can be availed till Rs 1.5 lakh.
So a person can go for second house without a tax liability.He
can create an asset on rent for which he will not be taxed. Few
people see second home for settlement after retirement.Like
there are many retired people who have settled in well planned
cities like panchkula,chandigarh and it's nearing areas.
With all this real estate deals the demand of real estate agents
have also increased as they are the people who can guide the
prospective buyer or seller in a proper way.People prefer
realtors as they know the business better and can make the deal
with ease and in little time.
For any further information: property dealers and
online real estate