Saturday, 1 November 2014

Reasons That Make Bank Loans A Favorable Option Than Using Your Savings To Invest In Property

When it comes to buying a property, you generally think about using a larger percentage if not all of your life’s savings for the same. The idea is to avoid seeking a bank loan or ensure that only a bare minimum amount is taken as loan. This is because, most you consider that taking a bank loan binds you financially besides making you feel insecure about losing the property in case of payment defaults. While this is true to some extent, the advantages of taking a bank loan rather than using your own savings for real estate investment far outweigh any worries or concerns you might be having about the same. 

Home Loans

Bank Loan Advantages
Discussed below are the various benefits of taking bank loans for investing in property over using your personal savings. 

ü     Makes It Possible To Buy A property Of Your Choice: For most of you, buying a property is a once in a lifetime decision. Given the skyrocketing prices of property across the country, buying dream home even in reasonably priced real estate projects such as the ones being developed by Mona Townships, might be well beyond your reach.  In such a scenario, depending just on your saving, you might either be forced to compromise with your expectations or wait for the property prices to drop which might not happen for several years. . However, if you opt for bank loan, you can buy the property of your choice without any further delays. 

ü  Keep Your Funds Intact For The Rainy Day: Investing all your savings in buying a property has a major downside in that you are not left with any financial backup. This can be a really serious issue as the uncertainty of the future makes it necessary for you to save enough for any type of emergencies. This problem can be easily solved by taking a bank loan rather than using your personal savings. With the banks offering much flexibility in terms designing the payback plans based on your overall monetary worth and employment stability, you can pay off the loan amount by planning your expenditures in an organized manner

ü  Be Assured About The Credibility Of A Property: While you definitely do some basic research about the property you intend to purchase, verifying its credibility might not be that easy. However, when you choose to take a bank loan, the task is generally carried out by the banks on their own. Most banks tend to verify whether or not the property in question has been authorized by the appropriate authorities. In addition they also make sure that the property is not a subject of any form of legal dispute to minimize any risk of losses. The approval of your loan application is a form of assurance about the credibility of the real estate you have chosen to buy.  

ü  Help You To Set A Positive Credit Record: In the modern times you might need to take a loan for various reasons apart from investing in property. However, in case you do not have a prior credit history getting those loans approved might prove somewhat difficult. A property loan helps you to establish a good credit history which makes it possible for you to seek other loans from almost any bank in a simple and hassle free manner. In fact, you might even be given preference for a loan if you have really good credit history and a repayment record, which is further enhanced with each new loan you seek and repay on time.  

ü  You Tend To Gain Tax Benefits: This is definitely the most important benefit of taking a property loan as compared to using your own savings. The money you save in the taxes can be used for other things that you might not have been able to do due to lack of funds. Apart from the benefits in taxes, taking a home loan also saves you from the hassle of having to disclose the details of your personal savings as well as proving that these have been accumulated in a legal manner. In addition, you are all set to get a better return on investment, in case you intend to sell the property at some point of time as using a bank loan for buying it, adds to its value in a significant manner. 

Invest In The Right Property
While taking a bank loan is definitely the right choice for real estate investment, it is also important to ensure that you choose the right property for the same. This means that the property you choose needs not to be not only authentic but should also be well located and have scope of investment growth. In this respect the properties being developed by Mona Townships are definitely the best as they are not only well located but have been designed and developed in keeping with the futuristic needs of people. Most importantly all the properties have been approved by major nationalized banks including State Bank of India, Punjab National Bank, Axis Bank and Dena Bank.
Buying a property in any one of the various projects of Mona Townships offers you the following advantages.

Mona City, Mohali

ü  International Standards Of Quality: The construction of every project has been carried out in accordance with international quality standards to ensure complete safety, luxury and comfort for you and your loved ones. 

ü  Proximity To Basic Facilities:  Every project being developed by Mona Townships is located within a short distance of all the basic facilities that you would need for high quality living. These include educational institutions, hospitals, shopping areas and entertainment hubs. 

ü  Eco-Friendly And Clean Environments: Each of the projects developed by Mona Townships boasts of lush green areas that keep the environments green and clean. This ensures healthy growth and development for you and your family. 

Mona Townships offers high quality real estate solutions that are accredited and approved by various banks. You can realize the dream of a perfect home by seeking a home loan to buy a unit in any one of these projects in an easy and hassle free manner.       

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