Home
is a sanctuary. It is the proverbial Englishman's
castle, which protected him from all cares of the
world. Corbusier called a home a machine to live in.
It is a dwelling place, a material structure of brick
and cement. To own a house is a dream for anyone and
the motive could be anythingsentimental value, shelter
for old age, an investment or simply a business proposition
when it comes to builders and developers. Most of
the young people today associate buying a house as
an investment proposition.
Thanks
to liberal offering of loans by banks and housing
finance companies the average age of owning a house,
which was at one time around 40 plus stands reduced
to 30 years today. The Government of India too is
offering more and more sops to encourage housing activity,
which has prompted the youth in their 20s to go for
buying a house.
An
investment in house purchase by taking a loan offers
endless Return on Investment (RoI) possibilities.
It is a triple whammy because you have three advantages
viz., the property that appreciates, tax benefits,
and the use of other people's money. One of the most
lucrative businesses in the world it is said is buying
land by the acre and selling it by the lot. For many,
a house is a once-in-a-life time purchase. |