Why Taking a Home Loan in Your Young Age
Is a Good Option?
Buying a home early is an investment that helps multiplying your money, when rented. Also, flexible income and less financial liabilities make it easy to buy a home at a young age.
Why Buy a Home at a Young Age?
Why Consider a Home Loan in your 30s
Getting a home loan at a young age backs your biggest financial decision on the path of being independent. There are several other advantages of taking a home loan early.
1. Longer Tenure, Lesser EMI
Applying at a young age gets you a longer repayment tenure, lower EMI amount and less worry.
2. Low-Risk Applicants
Stable income and a long work-life ahead make you a low-risk applicant.
3. More Investment Options
Young buyers can invest in under-construction properties and shift later.
4. Low Financial Burden
At a young age, you have fewer liabilities and, thus, more financial independence.
5. Secures Finances
Investing in a property helps grow your money with increasing property value.
6. Tax Benefits
A home loan has multiple tax benefits under Income Tax Act Sections 24, 80C and 80EE.
Check Your Home Loan Eligibility