If you’re young and have been heeding personal finance advice from some popular columnists and bloggers about how owning a home doesn’t make financial sense anymore, Well you’ve been duped! If you have a solid job or a considerable amount of spare cash, then spending some time and effort into a good investment will be the best thing you can probably do young. Property investment in Goa is flourishing at mind blowing speeds. So there’s no better time to be an early bird than now.
Here’s why you should invest on a property in Goa.
5. Longer time to pay up your loan. Plus less EMI
If you’re considering on taking a loan for buying your first property in Goa, then a great reason to start young is that you have plenty of time to pay up your dues. The maximum home loan tenure is 60 years minus your current age. Hence, the younger you are, longer the home loan tenure you will receive.
It is both safer and wiser to pay off your home loan EMIs before your retirement so you can sit back and enjoy a peaceful retired life rather than extend working just to pay off your debts.
4. Real estate in Goa is affordable. If you know where to look
A popular belief is that Goa is really expensive when it comes to buying an apartment. But the problem with this notion is that it looks into only real estate locations that have high demands. Panjim, Dabolim and Margao for instance. This is like saying real estate in Maharashtra is expensive by only looking at Mumbai’s property prices. The Kadamba Plateau is a great place to score your first property investment in Goa. The prices here are rising by the minute and will continue to do so as the demand for affordable luxury apartments in Goa grows.
Property has historically proven its ability to deliver capital gain provided you select the right area with correct supply / demand ratio and demographics. This makes Goa a perfect candidate.
3. Tax Benefits await you
If you are a salaried individual, getting a home loan would automatically get you multiple tax benefits. As the prepayment of home loan comprises of 2 different components. i.e. the home loan interest rate payment and the principal repayment, the tax benefits on these are claimed as tax deductions under different sections while filing the Income Tax Return.
Tax benefits on a home loan are governed by different sections of the Income Tax Act, i.e. Section 24, 80C and 80EE.
2. You’ll Have Another Source of Income
Who said your newly purchased property has to sit there collecting dust while you search for buyers.If you are purchasing a property that you plan to rent out, you’ll be able to profit off your investment as soon as you find tenants. Then you can take the money you earn and reinvest it in your property or use it to pay off other bills and debts.
1. You have security
Having your own home not only secures your finance, it also helps you be stronger psychologically. How? For starters, you will never have to worry about not have a roof over your head again. No matter what the situation on your job is. Even if you lose it you’ll have a place to go to. Owning a home also imparts a sense of stability. Being a homeowner in a peaceful society like Casa Amora leads to a sense of being a part of a greater community.
Let’s plan your first investment in Goa together ! Call now on 839-0154-777 to learn more about why Casa Amora is the perfect investment for you.