Sobha: Advantages of buying a house in Bangalore
The capital of Karnataka, Bangalore, now known as Bengaluru, is famous for being the IT capital and home to many start-ups. Located about 3,000 feet above sea level, India’s Silicon Valley attracts thousands of people, all thanks to its pleasant year-round climate and the countless opportunities it offers. As more and more people set foot in the city, the need for residences has increased, and with this, the real estate sector has seen a corresponding increase to meet the demand. If you are wondering if it is better to buy a house in Bangalore than to rent one, then the obvious choice would be the first.
Now is the perfect time to invest in your future home as banks are offering loans at historically low rates. There are many advantages to buying your own house in Bangalore, read on to find out more.
You don’t need a lot of reasons to buy a house. However, here are some reasons why buying your property in Bangalore is advantageous.
The many residential projects to come suggest an ever-increasing demand in the real estate sector. Since Bengaluru is the hub of start-ups and IT, there is always an influx of people from other cities. Buying a property in a growing market like Bangalore will be a blessing since you can allocate money towards acquiring assets while avoiding paying rents.
Rental income and better returns on investment
Investing in real estate is one of the best ways to expect safe and higher returns. Whatever property you buy, the returns will be rewarding. In particular, an apartment in Bengaluru can become an additional source of income generation if you decide to rent it out and use that money for EMI. If you decide to move later, you can still rent out the property to earn extra income.
Bangalore’s population is on the rise and real estate companies are racing to provide various housing options. With the increase in real estate developments, land appreciation and apartment prices are sure to increase. Even if you sell the house in just two years, the returns will pay off.
Affordable Home Loans
It is now much easier to get home loans than before. With a steady source of income, you can easily avail home loans. The process of obtaining loans has also become more convenient and simpler. Whatever tenure you’re looking for, it’s easy to find a wide range of home loans to suit all your needs. If you are able to finalize on a property – a good value property with amenities to meet all your needs, loans can be processed in a jiffy.
Tax benefits galore!
Owning a property with a mortgage means huge tax benefits for you! Much of your income would disappear without the right investments. If you want to take full advantage of your raise and save a significant portion of your tax amount, then a home loan for real estate in Bangalore will surely be of great help to you.
Read: Save up to 7 lacs on home loan tax deductions!
Inspire to save more
Paying a larger down payment is a much better option than paying a higher EMI each month. Therefore, the moment you have decided to invest in your home, you can start working to save more so that you can make an easy down payment. Strict monthly budgets, mutual funds, and other automated savings strategies are a great way to ensure higher savings. Even after buying your apartment, you’ll be motivated to save more so you don’t feel the burden of an NDE.
The fear of being evicted at short notice is present among many tenants and the worry of an annual rent increase is also persistent. However, when you buy your own home, you have the flexibility and freedom to plan your stay. This ensures a sense of stability among owners.
Quality of life and safety
With quality housing comes a better quality of life. Bangalore has some of the finest residential projects that set the bar high. Reputable builders offer homes that are par excellence in quality and lifestyle. Homes are now designed to strike the perfect balance between resort living while being easily accessible to reputable schools, hospitals, offices and more. With 24-hour security, apartments, villas and gated communities offer a sense of security and privacy.
Apartment residents gather and celebrate holidays and other important dates. Living in an apartment instills a sense of unity and promotes communal harmony. Living in an apartment is great for everyone – from singles/bachelors, nuclear families to the elderly – because help is always there.
There’s nothing more rewarding than having a space to call your own. Anyone who has lived in a rental home knows how landlords can limit changes to their home. Whether it’s gardening or hanging a picture frame, you’ll need to get the landlord’s approval first. With your own house, you can customize it the way you want and make changes to your liking. You can decorate and personalize your spaces as you see fit.
Must read:Stamp duties and registration fees in Bangalore
In a city like Bangalore, buying your own house is a sure way to secure a better future. Investing in a home in Bangalore that is practical and meets all your requirements promotes an enriched lifestyle. There’s no better time to start owning your perfect home than now. Buying from a trusted builder will ensure a hassle-free process and on-time delivery.
You can find your perfect home in one of SOBHA’s many apartments, villas and plots in Bangalore. For over two decades, SOBHA Limited has been one of the most trusted real estate players in the country. The company is committed to excellence and delivering top quality products on time. SOBHA’s retro-integrated model – a concept that makes the company autonomous and independent, aims to deliver quality across a range of departments.
When spending your hard-earned money, choosing a quality home is not only safe and secure, but also a smart idea.