A home is everybody’s comfort zone. Especially if you own yours. Either way, we get attached to the place we call home. As you grow old, the house grows old along with you. The very thought of seeing the flooring of the house give away is least flattering, This is where you have to step in and initiate the the process of renovation of the house. If ignored, they are chances of the building deteriorating further, with the passing of time. Nobody wants to witness the unpleasant sight of all the childhood memories fading away with the house. Lest we see our safety abode completely crumble before us. Even if the building is safe and intact, there is no harm in remodelling the old house according to your current preferences, is there? After a few years every house is bound to lose its sheen and bound to look outdated. If your neighbours take the lead and remodel their existing households, then don’t you think it is your turn now? Go ahead and give your home a new lease of life
Home Loans have emerged as the most feasible source of financing your home purchase. This is quite evident if you look at the manifold increase in the demand for Home Loans. You can take a Home Loan as a single borrower or a Joint Home Loan as a co-borrower with your spouse, children, or parents. To meet the diverse needs of home buyers, different types of Home Loan are on offer. Listed below are the popular types of Home Loans. Home Purchasing Loan This type of loan is utilised for the purchase of a house/apartment/villa or an under-construction property. Usually banks and housing financial institutions offer loans to the extent of 80% to 85% of the property value. This type of loan offers you tax benefits as well. You can claim a deduction under section 80C in respect of the principal repayment, while the interest on the loan can be claimed under section 24 of the Income Tax Act. Land Purchasing Loan To construct house of your choice, you need land. To buy a su