3 THINGS to Keep in Mind While Buying Property in Your Late 30s or 40s | askHousing | Housing.com

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Do you want to buy a new house?

Are you planning to take out a home loan or pay in full by yourself for your dream home?

Are you afraid of buying your first home?

Watch the video & read the blog below to know more about buying a property in your late 30s & 40s.

1. Smartly choose the loan tenure

Agar aap apne 30s ya 40s me ghar khareed rahe hain to aapko loan tenure choose karte huye koshish karni chahiye ke aapka loan retirement se 4 ya 5 saal pehle close ho jaye. Isse aapka retirement phase aasan ho jaega, aur retirement ke baad heavy liabilities kam.

Kyunki aap young age me ghar nahi khareed rahe, aapko mil jaega thoda extra time to save more cash for downpayment. As a result, aap ek comparatively smaller amount ka loan le kar usse 10-15 saal me repay kar sakte hain, jisse aapko interest bhi kam dena hoga and retirement ki planning bhi ho jaegi.

2. Be prepared for higher interest rates

If you are in your late 30s or early 40s, you are comparatively closer to your retirement age. Is kaaran, ho sakta hai banks aapko loan dete huye ek higher than usual interest rate charge karein.

This is the bank’s way of ensuring they are secure and aapke retirement se pehle vo definitely apne loan recover kar lein.

However, is interest ko aap equal out kar sakte hain by paying most of the money in downpayment and taking only a small loan.

Also, the government’s tax rebate policies will help you save more money on your property loan.

3. Save more by co-owning the home with your spouse

Agar aapke spouse ek working professional hain aur regular income proof de sakte hain to aap apni tax savings double kar sakte ho.

Section 24 (A) aapko allow karta hai aapki aur aapke partner ki EMI payments par tax benefits claim karna. So, buying a property later in life does not mean “ghaate ka sauda.” With the right knowledge, you can make this experience, Parr…se perfect.

Iske alawa aap consult kar sakte hain Housing.com par humare experts ko, jo aapko suggest karenge best ways to find your dream property, and make your property.

We hope you enjoyed the interaction with Kavita Ralhan & let us know what else you have in mind in the comments section.

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Link to the blogs:
1. https://housing.com/news/tips-to-plan...
2. https://housing.com/news/
3. https://housing.com/news/home-loan-ex...

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