Advantages of Owning a Residential Property
                     Advantages of Owning a Residential Property 
For most of us, home is much more than just four walls and a roof. For example, owning a 
house for some people might be a sense of security; for some, it will be about comfort, and 
for others, it will symbolize status and accomplishment.
Buying your own house is an outstanding achievement. You might find it challenging 
sometimes, but the benefits that come with owning a home make it all worthwhile. Before 
buying a house, the first thing you need to do is to determine whether purchasing a 
residential property for sale on SV road is the right fit for you. As you know that there 
are always two sides to the coin, so it’s crucial when making any decision that you strongly 
consider both the pros and cons of what you’re deciding on. 
In the short term, renting apartments on SV road may seem like the best option, but here 
are some of the reasons that owning your own home can create real value for you over 
time.
It helps you build equity
Buying residential property for sale on SV road helps you to build equity. Now many of 
you might have a question that what is equity? Equity is the amount of the value of the 
property that you own. It grows when the market value of your property increases (or 
when you make extra payments on your mortgage). If you already own a house, here we 
have shown how you can calculate your equity.
The longer you own a house, the more you would need to pay towards the principal 
balance of any liens.  As the balance of any liens against a property gets lower and hopefully
the value of the property increases, the larger the equity.
It’s more economical over the long term
You might think that renting a house may be cheaper. After all, what’s a rent of Rs. 15,000 
per month in the face of saying an Rs. 10 lakh down payment and EMIs to the tune of Rs. 
25,000? But over the long term, as the interest portion on your EMIs reduces, buying a 
home pays off. 
Besides, currently due to the covid-19 pandemic, we have witnessed the lowest home loan 
rates in over 15 years. Plus, there is a reduction in stamp duty applicable till March 2022 in 
Maharashtra. So this is an excellent opportunity for you to buy a residential property for 
sale on SV road. And if you are looking at affordable housing, then you will benefit from 
the PMAY incentives apart from other tax benefits. 
Freedom To Make Changes
One of the most significant advantages of owning a residential property for sale on SV 
road is the ability and freedom to make changes. When you are a tenant, you are restrained
from making any changes in the house. In fact, there is a clause mentioned in the agreement
so that the tenant cannot alter the property in any way. 
But when you are the owner of the house, you have complete creative freedom. Without 
worrying, you can paint the walls in super bright colors or something complex, such as a 
complete kitchen remodel. The ability to change a property according to your way makes a 
house feel like a home.
Concluding Remarks
As you have read the above article, you have come across some of the multidimensional 
benefits of owning a house. So now, if you are planning to buy a smart 2 BHK apartment 
on SV road or looking for a smart 1 BHK apartment on SV road, visit The Chandak 
Group - www.chandakgroup.com they will offer you some of the best property deals in 
your budget.
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