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Why home ownership is not just a matter of social pride

By Finserv MARKETS - Aug 23,2019
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Home Ownership

Owning a house has always been an aspiration for every young Indian. Young professionals are more frequently tenants who move from one rental home to another, and owning a house is a huge step to attaining stability in life. It is, of course, a matter for huge social pride, because you can flaunt your brand new house to your parents, your friends and all those nosy relatives who always seem to be around. There are, however, a lot of other reasons that owning a house is beneficial including for your morale, your peace of mind, and for your financial health.

Young professionals are familiar with the process of landlords evicting them for practically no reason or with the utter lack of privacy that results from co-renting space. It is difficult to rent a house in a gated community which offer greater comfort and security; but if you can buy a house, it’s yours forever. Funds are no longer a constraint since the best home loan is easily available for low rates of interest and with flexible repayment periods that can last for 300 months with the Home Loan, available on Finserv MARKETS. Meeting the eligibility has never been easier since salaried professionals between the age of 23 to 62, with at least three years of work experience, can avail a loan of up to Rs. 3 crore.

Read on to learn the best reasons to own a home:

1. Owning is cheaper than renting

The initial costs of owning a home are much more expensive than paying the security deposit on a rental property. However, over the long-term, the costs of owning a home turn out to be much cheaper since you don’t need to pay anybody rent or live in fear that your rent will be hiked at the end of every 11-month agreement period. With the Bajaj Finserv Home Loan, available on Finserv MARKETS, it is now much easier than ever to own a house. The process of availing a loan can be completed with minimal documentation and the loan will be approved in only three minutes, and you will receive the loan amount in your account within 24 hours. If you already have an ongoing loan with a bank that isn’t offering you the best home loan, get a transfer to Bajaj Finserv Home Loan to avail the benefits of custom-made loans. Home loan eligibility has also become significantly easier to meet since these loans are available for all salaried professionals between the ages of 23 to 62 years.

2. Increased security

A lot of tenants are evicted for a lot of reasons, including disagreements with the landlord over petty matters. However, as a home-owner, you can live how you want to as long as you don’t disturb the rest of your community. Tenants are often treated with suspicion by the rest of the community, which is something you won’t be subjected to as a homeowner. Along with your financial and physical security, availing a Bajaj Finserv Home Loan, available on Finserv MARKETS, also gives you access to a complimentary health card that provides benefits such as free teleconsultation for up to four family members by Swiss doctors, five free consultations across partner clinics and hospitals, and two free health check-ups that cover 84 vital tests and 12 health profile tests.

3. Increased net worth

A house is an asset that adds to your financial net worth. It is also the best kind of investment since the value of the property increases significantly over time and you can sell it for a lot more than what you bought it for, in just a few years. Owning a house also increases your credit reliability, since banks and financial institutions are more likely to loan you credit as you have a valuable asset in your name.

4. A secondary source of income

When you own a house, you can do a lot of things including renting out space to tenants or for functions or for seasonal guests. With platforms like Airbnb flourishing globally, you can generate revenue by simply letting one room in your house out to tenants. It’s a great way to ensure a secondary source of income and it can even help you make your EMI payments. Bajaj Finserv Home Loan, available on Finserv MARKETS, will provide you with a flexible repayment period which can go up to 300 months. If you already have an ongoing loan with a bank that doesn’t offer such benefits, consider a home loan transfer which will not only provide you with better options for repaying your loan; but also provide secondary benefits such as a free health card.

Home ownership can significantly aid you in cementing your standing within your community, within your area of residence, and also as an investor since the value of your assets multiply. The best home loan will ensure an easy process of availing it. For instance, the loans, available on Finserv MARKETS, can be approved in as little as three minutes; while the loan itself gets credited to your account within 24 hours. Home loan transfer from a different bank can be completed with minimal documentation, and it allows you to access other benefits including a complimentary health card that provides free consultations and free medical tests. Home loan eligibility on Finserv MARKETS, is also easy enough to meet. Salaried professionals between the ages of 23 to 62 years can easily avail a loan of up to Rs. 3 crore with a flexible repayment period of up to 300 months.

Also, read about ways to reduce home loan EMI.

“Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. We understand that every individual is different and thus when you plan to achieve your life goals or shop for the gadget of your dreams, we believe in helping you Make it Happen in a few simple clicks. Simple and fast loan application processes, seamless, hassle-free claim-settlements, no cost EMIs, 4 hours product delivery and numerous other benefits. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere”!

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522