The dream house will be yours now: girls, set your money this way, you will be able to buy a house as soon as possible

Home is still a dream. Although financial advisors insist on considering rental accommodation as a better option than buying a home under certain circumstances, the dream of owning a home is still a big dream for our Indian middle class. We work hard to achieve this. This applies to both men and women. In the changing times when women are striving for their strong financial status, it is important to discuss how women can fulfill their dream of owning a home.

Buying a house is probably one of the biggest ‘buys’ of a girl’s life, so it’s natural to feel stressed or nervous about making mistakes and getting confused while preparing. The good news is that you should prepare for buying a home a few years in advance and consider all options and methods. Now if you want to buy a house in Delhi NCR or any other metro city after 5 to 7 years then you have to take steps for it from today.

We spoke to financial expert Balwant Jain about this. In most cases, to buy a house, one needs to take a home loan. In such a situation, 80 percent of the house price is borrowed and 20 percent has to be paid by oneself. While lending 80%, banks consider your income. That is, they decide your loan and EMI on the basis that you can pay EMI up to 40 percent of your income.

Whenever you book a flick. Or if you buy a house, you have to manage the remaining 20% ​​of the loan in addition to the 80% loan taken on it. You also have to make a down payment. Apart from this, registration and some other charges will also have to be borne by you. In such a situation, start saving your salary or a large part of your income as soon as possible. Most of it will have to be invested so that you get good returns.

Balwant Jain says girls The money should be invested in equity fund on time. The sooner you can start investing through SIP, the better. However, if we compare it to the goal of marriage, the goal of buying a house is a somewhat flexible goal. We did a news about wedding planning, which you can read by clicking here.

For more information on personal finance, you can find information on these links. Plan your wedding finances like this, Also you can read- No money to spare, not worth saving? These 5 Ways to Keep Your Notes in Your Wallet

After five years the house will not be available. So take it after seven years, if things are not good then. That is, if the market is volatile or you are losing the money you have invested. At the early stage of a career, the risk-taking capacity is high.

Investing in equity for the first time So you may not have much and accurate information about it. They say that it is also possible that you will not be able to review properly but gradually you will start to understand. You should invest in index funds, there is no need to revise or change them. Index funds only represent market indices. Sensex funds and Nifty index funds are the best options.

For more information on personal finance for women, you can click here.

For home buying goalOne should invest in large cap index funds as they have low volatility and stocks are also good in terms of returns. For example, you can invest in UTI’s Nifty 50 Index Fund.

Don’t overlook this point. The interest rate may be lower when you take a home loan, but if it increases later, your EMI will also increase. So, after paying the EMI, you may be in a difficult situation.

If before buying a house If you get married, you should take a home loan in joint name. While applying for a home loan, the income of two people is considered and you become more eligible for the loan. At the same time, you can buy a bigger and better house and at the same time, your ability to take risk or buy an expensive house increases.

Tags: Home Loan EMI, Investment Tips, New fiscal year, Taking a home loan