Three Reasons to Buy Your First House in Your 30s

Buying a house is a major goal in every Indian’s life. And, achieving this goal gives us a sense of pride and satisfaction. Earlier, people would work hard for most of their life to save money for buying a property. But now, due to the relaxed home loan policies, many youngsters are becoming homeowners. Well, the best time to buy a property depends on one’s financial position. But experts suggest that the age 30 to 39 is the best years of one's life for making such a big investment. Here, are a few reasons to back up this claim.

1) Loan repayment becomes easier- By opting for a loan at age 30 to 39, you get more time to repay it. You can choose your loan repayment plan for 15, 25, or 30 years as per your preference. By choosing longer loan repayment tenure, you will need to pay a small amount as monthly EMIs. 

2) Stability in professional life- By this age, most people attains stability in their professional career. Plus, they have already saved enough money for the down payment. Moreover, by now, they would have decided where to settle down.

3) Get the step-up EMI facility- The best benefit of buying a house at this age is that you can avail the step-up EMI facility. This special policy will allow you to increase the EMIs as per the increase in your salary.

Apart from all these reasons, by buying a house in your 30s, you will get enough time to witness a price appreciation. The longer you invest in a real estate, the better return it will provide. Therefore, by the time, you will reach 55 or 60, your house will become a valuable asset. Post-retirement, you can resell this property or rent it out. Therefore, this property will help you lead the rest of your life with peace.

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