HomeCapital Program

Everyone wants to buy a home of their dreams, however, buying it at an early stage of life is more important. Buying your own home is in everyone’s dream, but doing so is not an easy task. In India, most of the population is job oriented and prefer to work in major cities.

For example, Mumbai or also called the financial capital of India attracts a swarm of people each year by creating job opportunities. Now, of course, everyone would want to live in the close proximity from their jobs. People will prefer to live near their jobs and the essential services like schools, hospitals, transport services and so on. So looking for a home that ticks all the checklist is what everyone wants. Still, buying a home is not as simple as thinking of buying. There are multiple factors that affect one’s home buying decision. They include factors like Evolving Family Structure, Demographics, Affordability, the decision of buying or renting and much more.

The most important of all is to decide whether to buy or to rent a house. Well, both have their own benefits and losses. Here’s a small comparison between buying and renting:

Buying:

Having a home gives a sense of ownership & pride. It also gives the much-needed security & stability.

On buying, monthly EMIs are eligible for tax deductions.

Can make your house poor

Renting:

Less stability as there is a possibility of being asked to vacate. One has to be very careful and responsible in using rental property.

No tax benefits on rental expenses.

One can invest the money saved on renting against buying different asset classes such as equity, mutual funds, gold etc. which give equally good returns.

Macroeconomic factors also impact the home buying decision. They include Interest Rates, Property Prices, Income levels, Government of the day as such. The financial situation should also be assessed before going for the home loan. Now, when this curve comes we try to settle for the cheap homes and compromise on other necessary factors like our mental and physical health. Not to forget that we all try to do this at the later stage of our life and fall short on finance and time.

A company thought about it and came up with a clear and simple idea- Give everyone the opportunity to buy a home at an early stage in life. An India based company that specializes in Down payment assistance reduce the waiting time for home buyers to accumulate savings for the down payment. Down payment assistance is given in the form of interest-free loans through their partnered institutions.

It's a really powerful and innovative idea bringing a positive change to the lives of millions of home buyers.