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.
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