Why you should invest in residence property - 3 Things you should know?

Investment is the best thing you can do in your life whether you are investing in yourself or whether you are investing to grow your money. As we all know, the right Investment is the key to real wealth. Investment in real estate is one of the best investment an individual can do to get the best return of his money. Generally, people prefer to invest in commercial property but there are some benefits of investing in Residential property too.

The advantages of investing in residential property are as follows-

1. Income from rent

Residential property can give a huge return when given the property for rent. Initially, it might not give huge returns, but gradually its benefit can be understood. The increase in rental income happens gradually and which finally boost the yields. If the property is given on rent for a longer period, it serves as a regular income, apart from salary and other sources of income. If the property is bought some decades ago, then the rental income is sufficient to live on, for the rest of lives. 1 bhk flat in Tilak Nagar Chembur, bought now can give huge returns after 2 years itself. Therefore the area, in which the property is purchased, should always be assessed before investing.

2.  Appreciation in price

Most of us buy or invest in properties expecting their price to rise in future. Properties which are now at Rs 40 lakhs are expected to be at 60 lakhs from some years down the line. Property is such an investment, which moves in tandem with inflation. The added benefit of price appreciation is one of the reasons, to always invest in property. Though it is a matter of fact that the property prices get affected by economic and market forces, prices move up gradually over a period of time. The 1 bhk flat in Tilak Nagar Chembur, will yield high return upon its purchase price.

3. Benefits from Tax

The tax benefits are one more reason to take or book a property. There is a deduction for the principal paid as a tax deduction when the home loan is taken for the self occupied property. Also, there are additional deductions for the payment in interest. Though it must be seen, that as the tax laws change over time, it is advisable, not to base the investment decision on the benefits received from tax.

Final decision

Hence if someone is in two minds, as what to do, then he or she must read or know these points, to know the advantages of investing in property. A thorough study is always required before investing in property, and these above points can be the main ones.

If you want to learn more about why you should in apartments then click here