#first time homeowner

[phd-in-prog]

ah fuck I need to submit this paper by May 30 and complete our fixer-upper renovations by June 3 and defend my proposal by August 30 and defend my thesis by December 11 and not die of stress

[wood-cock-johnson]

I am a homeowner now! Wow!

[crispydinosaurstrawberry]

Buying A House #001

Just before Christmas, we made the decision to look into moving out of our current property and into a bigger one as the boys are getting older and as their needs are constantly changing and more recently, their sleep has been quite bad, we felt it was time that they got their own rooms. For the last decade, we have rented a fair few properties and have always dreamed of one day, buying our own…

[reunitedinterlude]

homeowning homosexuals (x)

[housewifebuck]

Who up and wanna take me out back and shoot me rn

[onefail-at-atime]

Everyone,

It's time to WAKE UP and start asking those in your community how they're going to work to stop build-to-rent communities from becoming a mainstream housing option. This isn’t just an American housing issue either. It's become a problem in Canada, the UK, Ireland, and even Australia. Home developers are no longer looking to invest in building for sale home communities. No, corporations are investigating in housing properties to build with the intent to rent. Forever.

These developments aren't new homes for sale. They're not even rent to own communities. No, they're brand new houses/condos that are being built for the sole purpose of helping corporations make a profit now that commercial real estate has become such an unpredictable market.

Americans are already familiar with the apartment living build-to-rent model that has consumed so much of the housing market that it's just natural. For my European friends, they're shocked to hear just how many apartment buildings are built for the sole purpose of being a permanent rental building. Month to month rent that has already increased nearly 50% in just 5 years.

Don't sit on this issue. Don't buy into the grand scheme that economists put out there that this will help the housing crisis because it won't. All it will do is cripple a consumer's buying power more than it already has been since the pandemic.

Housing 👏 is 👏 not👏 for👏 corporate 👏 gain.

[sidewalk-scrawls]

Our kitchen sink is fixed and the dishwasher that's been on our back steps for 3 weeks is gone! Now to deal with the black mold, rotten kitchen cabinet, and (hopefully) a new dishwasher

[coquelicoq]

yeah sex is great but have you ever unflooded your street by removing leaves from the storm drains using the litter-grabber tool you bought from lowe's two weeks ago for that exact purpose?

[exploring-in-space]

Not me telling my mom I would come down to visit her for Mother's day and then realizing that's the same weekend Tears of the Kingdom comes out.

...and then telling my mom I can't actually come down 🫣

[stonerzelda]

i think my life would improve so greatly if i could justtt and i mean Just move out lol

[phd-in-prog]

dissertation proposal defense: summer 2023

I intended for it to be this spring semester 2023, but unfortunately I'm going to be participating in a multi-week partial hospitalization program for mental health (it's outpatient but every single day for hours!) and between that and the paper due in May I just don't have the time to fully dedicate to the proposal

my husband and I also just bought a real fixer of a fixer-upper which has been WILD but also REALLY taking my brain away from my work

anyways sorry for the ramble I just needed to get that out of my system thanks babes

[aheartofgold]

.

[skillzyo]

Hm. debating pulling money out of my 401k so I can make a down payment on a better place to live.

[fabioafterdark]

telling my bf as a joke that when i move in with him i get to redecorate his bathroom w a pink bathtub + sink + toilet. hes somehow not averse to the idea

[fcfwealth]

What Are The 7 Key Benefits of Taking a Home Loan?

People spend years waiting to buy their homes. While some take loans, others are hesitant because they don't know the benefits. This article will explore the seven key benefits of taking a home loan and how it can be a practical financial decision.

What is a Home Loan?

A home loan is a secured loan provided by banks or financial institutions to help individuals purchase a house, apartment, or piece of land, or renovate, expand, or repair an existing property. The property serves as collateral for the loan itself. Home loans offer high-value financing at relatively low interest rates and come with flexible repayment options, usually through Equated Monthly Installments (EMIs). If you wish to know more, reach out to home loan agents in Jaipur.

Key Benefits of Taking a Home Loan

1. Lower Interest Rates

One of the primary advantages of a home loan is the lower interest rate compared to other types of loans. Since home loans are secured, lenders are willing to offer more favourable rates. Additionally, existing home loan borrowers can avail of top-up loans at these lower rates, which can be used for other financial needs, providing an economic alternative to personal loans.

2. Tax Benefits

Home loans come with significant tax benefits under the Income Tax Act. Borrowers can claim deductions on both the principal and interest components of their home loan EMIs:

Section 80C: Allows a deduction of up to Rs. 1.5 lakh on the principal repayment.

Section 24: Allows a deduction of up to Rs. 2 lakhs on the interest that's paid for a self-occupied property.

These deductions can substantially reduce your taxable income, leading to significant tax savings.

3. Liquidity

Opting for a home loan helps you maintain liquidity. Instead of exhausting your savings to buy a property outright, you can pay a fraction of the cost as a down payment and preserve your cash reserves for other investments or emergencies. This ensures that you have liquid funds available for unforeseen expenses and opportunities.

4. Due Diligence by Banks

When you apply for a home loan, banks conduct thorough due diligence on the property to verify its legal standing and ensure clear ownership. This reduces the risk of fraud and legal complications, providing an added layer of security to your investment.

5. Boosts Credit Score

Timely repayment of your home loan EMIs helps build a strong credit history, enhancing your credit score. A good credit score increases your creditworthiness, making it easier to obtain other loans or credit in the future at more favourable terms.

6. Flexible Repayment Tenure

Home loans offer flexible repayment tenures, often extending up to 30 years. This flexibility allows you to choose a tenure that best suits your financial situation. Longer tenures mean smaller EMIs, making it easier to manage your monthly budget. You can use an EMI calculator to determine the optimal tenure and EMI amount for your loan.

7. Less Financial Burden

By spreading the cost of your home over several years, a home loan reduces the financial burden of making a large lump sum payment. This gradual repayment approach makes homeownership more accessible and financially manageable.

Conclusion

Home loans are not just a means to an end but a strategic financial tool that offers numerous benefits. From tax savings and maintaining liquidity to boosting your credit score and ensuring due diligence, home loans provide a comprehensive solution for aspiring homeowners. Flying Colors, a reliable home loan finance company in Jaipur, can help you throughout the loan process.