Why buying a flat is a great retirement investment

The real estate is a good investment for the retired person as because they will get a steady passive
income on their golden years. Retired person who owns a flat can get a monthly rent that they collect
from their tenants renting their investment property.

If you own 1 Bhk flats in chembur or 2 BHK or 2 BHK or any other flats at any places of India, it will provide you a steady rental income which could be the best friend of the retired person, not only it would be helpful for paying the mortgage payment and it also makes much more lucrative.

Inflation Proof: There are several benefits of investing in property but when it is all about retirement, and then the general factor which comes in mind is the rental income that’s keeps pace with inflation. As the increase of the market value, your flat value will also increase so as the rent. Thus, investing money on the real e state property for a retired person is a good choice of getting steady income after retirement. It can be looked as a long term retirement friendly strategy.

Tapping Equity in Your home: the straightforward way to fund retirement in real estate property is to tap equity I a home which is mostly or all paid for. Suppose you are planning to move to another cheaper place. So, selling the current home to buy cheaper one after retirement and pocketing the
difference also reduce the maintenance and utility costs.

Accessible Nest Egg: If the property looked after properly, then the capital growth can create a useful
emergency solving purpose whether it is 1BHk flats in Chembur or 2 BHk flats in Mumbai or 3 BHK flats in any other places of India. While there are some limits for the retired persons to how much capital you can withdraw as cash on retirement, your flat can be sold any time to get your full value. However, the sale process may take few months but ultimately your will be gainer as you can sell the flat on higher rate as compare to the buying rate.

Tax benefits: Property investment has always tax benefits. Mortgage interest for the property on
monthly basis is tax deductible that will ultimately reduce the burden of the tax while you are working and earning. In fact, for the pension holder retired person, the tax deduction is really a problematic thing. If you are just buying the flat few years before your retirement, then you could be benefited in both before retirement (while working and earning) and after retirement while getting pension from the tax deduction.

So, buying flat for a retired person can be benefited as tax will be reduced, you will get an asset of flat and steady rental income after retirement.