Common Myths!! Owning a House or Staying on Rent

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Common Myths!!!!!!

Myth 1: Buying house on loan leads to tax saving:

People do not consider tax benefits under HRA when comparing savings on deductions u/s Section 24 on home loan interest. Higher Salaried person does not get any additional benefit under Section 80C

Myth 2: House is an Asset!! 

Asset is one which puts money into one’s pocket. Whereas a house with loan always drains cash from pocket.

Myth 3: Own House gives Stability:

 In this dynamic global scenario, opportunities emerge instantly across geographies.

Own house is more of a liability in case one needs to shift one’s place/job. Rental properties are generally available as per choice of location/budget.

For more detail please click on the below link :

https://wealthfirst.co.in/2019/02/04/should-you-buy-a-house-or-stay-on-rent/

 

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