When you have the intention to first buy a home, there are always challenges. In time we set out to establish a business, own a car, and travel the world but we fail to set our sights on buying into a new home.
A similar story is brought out in the video below and you will connect with the story and how it draws a parallel to your life.
A home is not just a place to settle down in but it can be a useful source of investment for the future also. Hence, while investing we must ask ourselves: Why do we want to buy a home? Are you buying a home for your family to live in? Or are buying the home to rent it out or for the purpose of investment?
We need to ask ourselves these questions and know when we should invest and the type of home we should look to purchase. We must also consider the following factors while buying our home:
- Current property tax and what it will be in future
- If renovation is required or not
- Current income and expected future income
- Current debt and future obligations
If you find these questions hard to answer then you should visit: www.trueworth.co.in.
The website clearly shows what information we must consider while availing the loan; we must never sell ourselves short. Below are the key factors to be taken into account:
- Income Information: We must consider our income from all sources and not include only salary.
- Transaction History: If you always clear your bills on time, then you can get a better package for your home loan.
- Repayment Track Record: In case you have taken any type of loan in past and you have paid all the installments on the time then it will give you advantage points on your home loan.
- Collateral: When taking a home loan, a property which is in your name will be taken as collateral. If the value of the collateral is high, there is a greater chance of availing a higher loan.
With Aditya Birla Finance Home Loans, you stand to benefit as you are provided with several options for your home loan. You can avail different kind of loans like Home Loans for a new property, home improvement loan, home construction loan, etc.
It is always better to apply for a home loan only after examining your true worth. #TheHomeLoanIDeserve
