Real estate is a whole new world in itself. What were once small villages have now grown to be towns and what were once towns have grown to be full-fledged cities with all amenities and comforts. In this fast-paced world, where several buildings are demolished and new ones are rebuilt, it is important to invest- for either self-occupation or just as an asset. While real estate is definitely not a cakewalk, everyone can certainly benefit from investing in a good property. Here are some reasons:
- Price Appreciation: People invest in property in the hope that the prices of the property will go up in the future. And for the most part, it is true. Properties that are valued at around Rs. 25 lakhs today might be sold at or valued at around Rs. 50-80 Lakhs in a span of 5 years. So it is always good to have property because in case you decide on selling it later in the future, you are always going to get more than you actually invested.
- Tax Benefits: With property investments, you get many tax benefits too. If you take a home loan for a self-occupied property, then you are sure to get some tax deductions for the principal paid. Similarly, your tax will be deducted for interest payments. But make sure not to base your decisions solely on tax advantages as the tax laws keep changing over time. To know more about tax laws, consult your tax advisor.
- A Physical Asset: Unlike stocks and shares, a property is a physical asset that you can touch and feel. So there is no space left for worry, and this might actually comfort you at times because you know where your property is and it won’t go anywhere, which is not the case with something like stocks and shares.
- A Rental Income Stream: If you decide not to self-occupy the property you have bought, then it can always be used as a stable source of income or rent for years together. When you buy a property, it is also important for you to assess the market to see if it will improve in the coming future and push your rental yields higher. Your rental income may not be great at first, but will always go up once you boost your yields.
Other than the reasons mentioned above, investing in residential projects in Nashik would mean that you are leaving behind some kind of asset for the next generation. It could also be an option to add additional units or expand in the future or can be used to set up a home office of some sort. We could come up with more reasons as to why you should invest in property, but the fact remains that you will never regret once you invest in buying residential projects.
Looking for properties in Nasik? Karmaa Group, one of the best builders in Nashik are coming up with residential projects in the city that might interest you. We, at Karmaa Group, put our customers at the top and hope to provide them with affordable houses without compromising on the quality. To know more, do get in touch with us!