The Top 5 Home Buying Myths Are Now Busted

The Top 5 Home Buying Myths Are Now Busted

Whether you want to buy 1 BHK in Vasai East or else. Buying a home or flat is one of the most significant investments in a person’s life. Therefore, clearing up some myths becomes crucial before your investment. These myths can affect your investment journey and get the wrong investment. Hence, before you buy any 2 BHK in Vasai East or anywhere. Reading this crucial myth-busting guide can be extremely helpful.

Myth 1: Buying a flat cost a lot; hence renting is a better option

It is one of the most found myths about buying a home. The young generation supports this unclear myth. Investing in 1 BHK In Vasai East or any ordinary house is a capital investment. Hence, it is not as risky an investment as the stock market in the long or short run. By having your own home, you can generate a rental income or reduce the rental expenses. If you sell your home, then also you can earn a decent capital gain. Therefore, getting home even by taking a home loan can be better than renting.

Myth 2: Buying a home in a metro city is better than buying in non-metro cities.

It is good to purchase a flat or house in metro cities. Because these are more developed than non-metro cities. And you can find these by searching the 2 BHK in Vasai East or other phrases. But assuming to invest in metro cities only is not going to work. Especially if you are a budget-level investor because it costs a lot. With the same budget, you can see attractive options in tier 2 and tier 3 cities. Hence, considering these cities are also a better choice to get attractive deals.

Myth 3: You need to pay a significant down payment of 20%

Most people think they need to pay a significant down payment for the acquisition. And these down payments can be of about 20%. If you also think the same, then you need to update your knowledge. Because now the jewelry and personal loans are considered realty loans. Hence, by getting those as well, you can get your 2 or 1 BHK In Vasai East.

Myth 4: All builders in the same localities provide similar amenities.

People complain they did not get expected amenities in their homes. Therefore, you must know that all different builders provide different amenities. And if you do not choose a well-known builder, then these are common issues you will face. Hence, this myth is also now busted, and you know to deal with them.

Myth 5: Reduce cost by taking no EMI till possession scheme.

It is another myth, and many people pay more money due to it. Subvention schemes are the schemes that initially save money. But in the long run of repayment of the loan amount, you pay more. It ends up with more money than other schemes. Hence, before you invest in 1 BHK in Vasai East or other realty property. You must analyze the pros and cons of EMI or loan payment schemes.

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