6 Reasons Why You Should Consider Buying a Home at a Younger Age
                     6 Reasons  
Why You Should Consider 
Buying a Home 
 at a Younger Age 
Talking about the millennials and their habits is a cliche topic and a never-
ending one. However, there is one point that should be considered for their 
better future is buying a home. Whether you live in India or any country the 
issue of buying your dream home remains the same. Young people are either 
not interested in home-owning or they fall short of their income to buy the real 
estate property they want to. 
Amidst the trail of arguments about not buying or buying a real estate property 
at a young age, the later one has stronger and valid points. 
 Let's focus on those. 
The earlier, the better 
The tenure of your home loan affects the EMIs to be paid. The longer the tenure, lower 
will be the EMIs. The loan giving bodies calculate the EMIs taking into consideration your 
age and how long you can practically pay the EMIs. In India, the retirement age is 60 and 
the banks consider this as the age before which a person, under any circumstances, 
should pay his/her EMI and repay the complete loan. 
It is also observed that the lenders are behind young people calling daily to provide 
home loans. The reason being, young people are at the beginning of their careers and 
will certainly grow in them over their evolving years. As the longer one carries over the 
decision of taking a home loan to buy a residential property, the bigger the EMIs 
become. 
Flexibility in a starter home 
A huge number of young people among homebuyers think that they will save up to their 
30s to afford larger properties. However, it would be easier and wiser for them to invest 
into a smaller property first and then after a few years plan for a larger one. This will not 
only be affordable to them at the start of their careers but also give them the flexibility 
of upgrading to a better and larger property after the family grows. 
A married couple, higher eligibility 
It becomes even easier for a young married couple to get a joint home loan. The banks 
consider these cases paramount as they are assured that two instead of one income will 
be backing up the home loan. It also reduces the risks for the banks as two instead of 
one borrowers are involved. A joint home loan also helps a couple to close down the 
loan considerably faster than an individual, enabling them to plan on other investments 
which will help them secure their future. 
Upgrade life 
It is also advantageous to purchase a home early as you can repay the loan while you 
are young and can focus on other investments and savings to lead a better life. This also 
opens new ways to upgrade your lifestyle to a bigger and better home, your 'dream 
home'. 
Close it at the earliest 
Newly married couples today are postponing their plans to have children thinking that 
they could enjoy some years freely together. Such a decision works great for couples 
with this plan. This decision enables them to make a huge down payment on their home 
before the expenses related to children and their academics become an additional 
responsibility to them. With a bigger down payment, they can reduce their EMIs and get 
rid of the home loan faster. 
Home- An asset 
It is also observed that a well-researched home may appreciate in value of 
approximately 15-20%. If you buy it at an early age this home can be a huge incremental 
investment asset to you. 
A wiser way to invest your hard-earned money is investing in an appreciating asset that 
paying rent every month for which you won't get any returns. Repaying of loans also 
gives you a financial advantage of income tax breaks. Indian Government has this way of 
encouraging young citizens to buy a home of their own and give a better future to their 
family. 
THANKS! 
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