Karnataka’s capital city, Bangalore, now known as Bengaluru, is famous for being the IT capital and home to numerous start-ups. Located about 3,000 feet above sea level, the Silicon Valley of India attracts thousands of people, all thanks to its pleasant weather all year round and the countless opportunities it offers. As more people set foot into the city, the need for residences has increased, and with that, the real estate industry has seen a corresponding rise to cater to the demand. If you’re wondering about whether buying a house in Bangalore is better than renting one, then the obvious choice would be the former.
This is the ideal time to invest in your future home since banks are offering loans at an all-time low-interest rate. Here we discussed the numerous advantages of buying a house in Bangalore. Let’s take a closer look into it-
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10 Advantages of Buying A House in Bangalore
One doesn’t need a lot of reasons to buy a home. However, here are a few reasons why buying your property in Bengaluru is advantageous.
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Growing Market
Numerous upcoming residential projects are suggestive of the ever-growing demand in the real estate industry. Since Bengaluru is the start-up and IT hub, there is always an influx of people from other cities. Buying a property in a growing market such as Bengaluru will be a blessing since you can allocate money towards gaining assets while avoiding paying rents.
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Rental Income & Better ROIs
Property investment is one of the best ways to expect safe and higher returns. Regardless of what property you buy, the returns are going to be rewarding. Especially an apartment in Bengaluru can become an additional source of revenue generation if you decide to rent it out and use that money towards EMI. Should you decide to move cities at a later stage, you can always rent out the property to make additional income.
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Steady Appreciation
The population in Bengaluru is on the rise, and real estate companies are in the race to provide various housing options. With the increase in real estate developments, land appreciation and apartment rates will definitely increase. Even if you sell the house in just two years, the returns will be profitable.
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Affordable Home Loans
It is now much easier to get home loans than before. With a steady source of income, you can easily avail of home loans. The process for procuring loans has also become convenient and simpler. Regardless of what tenure you look for, finding a wide range of home loans that suit all your needs, is easy. If you’re able to finalize on a property – one that is value for money and with amenities to cater to all your needs, then loans can be processed in a jiffy.
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Tax Benefits Galore!
Owning a property with a housing loan means huge tax benefits for you! A large part of your earnings would disappear without the right investments. If you want to fully enjoy your increment, and save a significant part of your tax amount, then a home loan for a property in Bengaluru will surely be of great help.
Must Read: Save Up to 7 lacs on Tax Deductions on Housing Loans!
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Inspire To Save More
Paying a larger down payment is a much better option than paying a higher EMI every month. Hence, the moment you’ve decided to invest in your house, you could start working towards saving more so that you can make an easy down payment. Strict monthly budgets, mutual funds, and other automated saving strategies are a great way to ensure higher savings. Even after purchasing your apartment, you will be motivated to save more so that you do not feel the burden of an EMI.
Must Read: How to Reduce Home Loan Interest Rate?
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Assuring Freedom
The fear of being evicted on short notice looms large amongst many tenants and the worry about an annual increase in the rent is also persistent. However, when you buy your own home, you have the flexibility and freedom to plan your stay. This ensures a sense of stability in homeowners.
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Quality of Life & Safety
With quality housing, comes an improved quality of living. Bengaluru has some of the finest residential projects that set the bar up high. Reputed builders provide homes that are par excellence in quality and lifestyle. Homes are now designed to strike a perfect balance between resort-like living while being easily accessible to reputed schools, hospitals, office spaces, and much more. With round-the-clock security, apartments, villas, and gated communities offer a sense of safety and privacy.
Must Read: Apartment Vs Independent House in Bangalore
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Community Living
Residents of apartments gather around and celebrate festivals and other important dates. Living in an apartment instils a sense of unity and aids communal harmony. Living in an apartment is ideal for everyone – from bachelors/bachelorettes, nuclear families to senior citizens – since help is always around.
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Emotional Gratification
There is nothing more gratifying than having a space to call your “own”. Anyone who has lived in a rented house knows how house owners could restrict any modifications done to their house. From simple things like gardening to hanging a photo frame, you would have to take the owner’s approval beforehand. With your own home, you can customize it the way you like and make modifications that suit your taste. You can decorate and personalize your spaces however you want them.
Must Read: Stamp Duty & Registration Charges in Bangalore
Conclusion
In a city like Bengaluru, buying your own home is a sure-shot way to secure a better future. Investing in a house in Bangalore that is convenient and caters to all your requirements promotes an enriched lifestyle. There is no better time to get started on owning your perfect home, than now. Buying from a trusted builder will ensure a hassle-free process and on-time delivery.
Now you understand all about the advantages of buying a house in Bangalore, You can find your ideal home in any of SOBHA’s wide range of apartments, villas, and plots across Bengaluru. For over two decades, SOBHA Limited is one of the most trusted real estate players in the country. The company is committed to excellence and delivering superior quality products on time. SOBHA’s backward integrated model – a concept that makes the company self-reliant and independent, is aimed at providing quality across a spectrum of departments.
When you spend your hard-earned money, choosing a quality home is not only safe and secure but also a smart idea.
If you are looking to buy a house in Bangalore, Check out- 2 BHK flats in Bangalore for Sale
