How investing in a home is a profitable venture?
Buying a house might be the biggest investment that one makes in his entire lifetime, but the profits that one reaps in the following years far exceed the initial purchase amount. Hence, buying a house definitely has a lot of advantages: Long-term investment – Leads to wealth accumulation for those who keep the house for a longer period. Therefore provides steady returns on the investment made. Your own house – Provides a sense of privacy and security. It is something that can be passed down to future generations. Costs less as compared to renting – Paying the EMI for a fixed period of time is better than paying rent for your entire life and not even owning a house at the age of retirement. Tax benefits – Leads to substantial tax savings when taking a home loan. Value appreciation – One can expect to build equity as the value of the house appreciates over time. Hence, investing in buying a house is always as profitable as the property prices increase...