Buying your first home is an exciting experience, but it can also be overwhelming. The average homebuyer visits at least a dozen properties before settling on one. The final choice isn’t driven by price alone. Several factors, such as peace of mind, emotional satisfaction, status symbol and peer pressure, play a significant role. Yet, one should consider factors such as affordability, the builder’s reputation, the loan tenure and any other financial benefits that can be gained from owning a house, rather than living on rent. In recent years, the appeal of home purchase and repayment as a means to save on income tax has diminished with the introduction of the new tax regime. Therefore, taking a home loan now depends solely on individual needs.
