The most important factor in deciding whether to borrow money is YOU. Is it a Need or greed? This refers to the intention for which you are applying for the loan.
Selling a house is a huge task in itself. More so the seller will be charged a tax on the capital gains, when there is a gain on the sale of a house and need to find out ways to reduce tax liability.
Buying a home is one of the biggest purchases many of us make in our lifetime – and this inherently involves taking a big sum of housing loan to fund the home, which takes years to pay off! Hence proper planning for funding for house loan is very much important so that one is left with enough money for other goals too in life, such as retirement, education funds, vacations etc.
A home is a ‘once-in-a-lifetime’ investment for many of us. It is natural that we want to make it as big and better as practically possible. But the shooting cost of property nowadays makes it difficult to acquire your desired property. No doubt, having the possibility of availing a home loan has improved affordability.
Owning a house is everybody’s dream. That is why buying a house always makes it way to one’s goals when we do financial planning. Buying a house has become a Herculean task these days owing to the mounting real-estate prices. A home loan is an easy way to fund your house purchase as it is not wise to burn your entire savings to buy a land or a house.
The MCLR is a reference rate or internal benchmark for the financial institution. Marginal cost of funds based lending rate defines the process used to determine the minimum home loan rate of interest. The MCLR method was introduced in the Indian financial system by the Reserve Bank of India in the year 2016.
Loans are available nowadays for various things from funding a start-up to buying appliances for a newly purchased house.
Dilshad comments on what should expectant fathers expect here
The Indian wedding industry currently accounts for over Rs. 1,00,000 crores and is growing at a rapid rate of 25-30% each year. An average Indian wedding could cost between 20 lakhs to 5 crores.
A person in India is estimated to spend one-fifth of the total wealth accumulated in his lifetime on his wedding.
Many have financial goals which are very focussed, an important one among them being building funds for children’s marriage. However many people tend to have higher exposure to real estate and lack a corresponding exposure to financial assets and have not invested in growth assets to meet long-term goals Hence they are asset rich and cash poor.